initial public offering

IEX Q1 profits rise 11.7% to Rs134.8cr

IEX posted a solid first-quarter performance with double-digit profit growth and revenue rising as volumes held up, while EBITDA margins expanded to among the highest in the sector, signaling resilient momentum in India's power market. The company also disclosed that its subsidiary Indian Gas Exchange has filed for an IPO, offering 22.3% equity shares and prompting IEX to reduce its stake to 25% in line with PNGRB regulations.