Investors selling shares, in private transactions, just before the opening of an IPO is a rare event. Mumbai: Private equity investors Aditya Birla Private Equity and Renuka Ramnath-led Multiples Alternate Asset Management (Multiples PE) sold Indian Energy Exchange Ltd (IEX) shares worth Rs103 crore in private transactions, just a couple of days ahead of the launch of the company’s initial public offering (IPO). Investors selling shares, in private transactions, just before the opening of an IPO is a rare event. Aditya Birla PE sold shares at a price of Rs1,582.6, while the Multiples PE has entered the share sale agreements at Rs1,617 per share. According to the RHP filed by the company, Aditya Birla is selling shares worth Rs84 crore, while Multiples is selling shares worth Rs450 crore.

Source: Mint October 11, 2017 04:30 UTC