IEX wins ‘Most promising Company Of The Year' award; Stock ends higher

4 Apr 2022 , 04:45 PM

The Indian Energy Exchange, India’s premium energy marketplace announced on Saturday that it has been conferred as the ‘Most Promising Company of The Year’ by Honorable Finance Minister, Nirmala Sitharaman at the 17th Edition of India Business Leader Awards (IBLA) organized by CNBC TV18.

S N Goel, Chairman and Managing Director of the Company received the award at the ceremony held on Friday April 1, 2022 at Mumbai.

“We are enthused to have bagged this prestigious award of being the Most Promising Company of the Year. This award is indeed a recognition of efforts over the last 14 years towards facilitating sustainable, and efficient energy future for India. We dedicate this Award to all our Stakeholders, Partners and Employees for their invaluable efforts and contributions in developing the energy markets fulcrumed on the innovation and technology.

Our heartfelt gratitude to the esteemed Jury Members and Organizers for recognizing the transformational impact that energy markets have been able to bring to the fore. This recognition indeed motivates our resolve to further build India’s energy markets aligned to India’s vision of a secure and sustainable and competitive energy economy” stated Mr S N Goel while accepting the award from the Honorable Finance Minister.

IEX has witnessed remarkable growth since its inception and has been serving as a benchmark for efficient power purchase. It now has a robust 7000+ registered participant base including 55+ DISCOMS and 550+ Electricity Generators and commands a market share of around 95% in the Power Exchange market. IEX is ensuring competitive, transparent, and reliable access to energy while working towards transitioning the energy markets in India as well as South Asia.

Indian Energy Exchange Ltd ended at Rs238.90 apiece up by Rs8 or 3.46% from its previous closing of Rs230.90 apiece on the BSE.