Indian Energy Exchange stock price down by more than 2% today

28 Nov 2022 , 11:40 AM

After the company stated that its board had approved a share buyback proposal, shares of the Indian Energy Exchange (IEX) fell 2% to Rs 146.80 on the BSE in an otherwise strong market. In contrast, at 11:07 am, the S&P BSE Sensex was up 0.32 % at 62,496. The repurchase would be conducted on the open market for a price that does not exceed Rs 200 per share and Rs 98 crore.

In contrast to the promoters, the promoters’ group, and the person in control of the firm, the buyback would be made from the company’s other shareholders. The indicative number of shares to be purchased back would be 4.9 million equity shares, or 0.55 % of the total equity capital of the firm, at the maximum buyback size and maximum buyback price.

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