Aditya Birla Pvt Equity Fund is all set to buy 8% stake by volume in Indian Energy Exchange (IEX), according to media sources. The stake is expected to be for Rs 136 crore, valuing IEX at 1700 crore.
The move is significant in light of the recent developments in the power sector. Industry experts seem positive regarding the Narendra Modi government's vision about the power reforms, and there has been visible efforts from both, the finance minister and power minister, to bolster the sector which has been marred by problems in coal linkages, regulatory clearances, and poor distribution of resources.
Central Electricity Regulatory Commission (CERC) regulated IEX, operates a day-ahead market based on closed auctions with double-sided bidding and uniform pricing.