Indian Energy Exchange's (IEX) initial public offering (IPO) opens for subscription today. In an interview to CNBC-TV18, SN Goel, MD & CEO of the company spoke about the IPO and his outlook going ahead.
Indian Energy Exchange is an online trading platform, said Goel.
We provide efficient and transparent discovery of price for electricity and distribution companies can manage their demand better through our platform, he Goel added.
We are managing around 3.5 percent of the total energy trade in India through IEX. In developing countries these transactions are in the range of 30 percent to 70 percent. In Germany, UK the transaction through the exchange is more than 50 percent, he said. Therefore, see a lot of scope for platform to grow in future, he added.
Don’t intend to hike the transaction cost per unit, mentioned Goel.
Would like to grow volumes and not hike transaction fees, he further mentioned.Watch accompanying video for more details.