The (Initial public offering) of\u00a0Indian Energy Exchange which opened on 9 October for subscription was subscribed 30.19% on as the second-day\u00a0bidding progresses. The public offer of IEX received\u00a0bids for 12,72,942 shares against the total size of\u00a042,45,508 shares as of 2:10 pm, today, according to the latest data received through exchanges.\u00a0In the ongoing bidding process, the participation of retail investors is relatively higher than that of QIBs (qualified institutional buyers), and NIIs (non-institutional investors).\u00a0The company has set a price range of Rs 1,645-1,650 per equity share of face value Rs 10. Indian Energy Exchange is expected to garner Rs 1,000.73 crore from its public offer at the upper end of the price band by selling 60.65 lakh equity shares (including anchor investors). The portion set aside for the QIBs was subscribed 1.02%, the bids received by the shares reserved for the NII category stood at 4.5% while the quantum allocated for retail investors got subscribed 57.36%. The issue where the company is selling 20% of the paid-up capital, has set the floor price of the shares is 164.5 times the face value and the cap price is 165 times of the face value. Investors can bid for a minimum of 9 equity shares and in multiples of it thereafter. The IPO will see a sale of 60,65,009 equity shares by existing shareholders which included\u00a0Tata\u00a0Power Company, private equity arm of Aditya Birla Group, Madison India Capital and Multiples Alternate Asset Management. \u201cThe main aim behind this IPO is not to raise capital but to provide an exit option. The listing will enhance the company\u2019s brand and provide liquidity to the existing shareholders,\u201d PTI reported citing IEX MD and CEO SN Goel. Besides, through this exercise, we are bringing in more transparency and efficiency in our operations, he said. \u201cThis IPO will also provide a public market for the equity shares in the country,\u201d Goel added. Indian Energy Exchange got established in 2008,\u00a0is India\u2019s first power exchange providing an\u00a0automated trading platform for electricity (for physical delivery) and REC (renewable energy certificates).\u00a0Axis Capital, Kotak\u00a0Mahindra\u00a0Capital Company and IIFL Holdings are the book running lead managers for the public issue.