The board of the Indian Energy Exchange (IEX) has approved a proposal to buyback shares worth Rs 98 crore, the exchange reported on Friday.
According to IEX, “The board has approved the buyback of fully paid up equity shares of the business with a face value of Re 1 each at a price not exceeding Rs 200 per equity share and not exceeding Rs 98 crore payable in cash through open market channel,”
According to the buyback plan, up to 49 lakh shares may be repurchased. The leading energy exchange in India is called IEX. It offers a national automated trading platform for the physical delivery of electricity, renewable energy, and certificates.