Reliance Infra sells 4 per cent stake in IEX for Rs 103 crore

NEW DELHI: Reliance infrastructure has exited India Energy Exchange, selling its stake in the country's largest power trading platform, for Rs 103 crore, sources said.

The company offloaded its stake in IEX to a non-resident investor for Rs 103 crore, valuing the energy exchange at Rs 2,500 crore. Nearly 30% of short-term power transactions take place on IEX.

Reliance Infrastructure is among primary investors in IEX that invested Rs 1.25 crore for 4.122% stake in October 2007.

Earlier, Jindal Steel & Power Ltd sold 4.12% stake in IEX to Motilal Oswal PE in March. Global investment firm Bessemer had also sold its stake in two separate deals TVS Capital and Dalmia group.