India Business Excellence Fund - II and India Business Excellence Fund - IIA, funds managed and/or advised by MOPE Investment Advisors Private Limited (“MOPE”), has acquired 4.1% stake in Indian Energy Exchange (“IEX” / the Company”) from Jindal Power Limited for a total consideration of Rs. 98 Cr
Established in 2008, Indian Energy Exchange (IEX) is India’s first power exchange providing a transparent, neutral and automated trading platform for electricity( for physical delivery) and renewable energy certificates. IEX pioneered the development of power trading in India and provides a state-of-the-art technology platform to all the participants in the market, including State Electricity Boards, Open Access Consumers, Power Generators and Power Traders. IEX has a dominant market share among power exchanges in India.
Mr. Vishal Tulsyan, Managing Director and CEO of MOPE sai, “It is our privilege to be part of India’s premier and largest power exchange. ‘IEX’ is a one of the best bet on the undergoing power sector reforms without taking any balance sheet risk”.
Mr. Raamdeo Agrawal, Chairman of MOPE concludes, “India is at an inflection point wherein it would graduate from a power deficiency to a power surplus scenario. As the power generation capacity and transmission capacity improves we believe that volume of power traded on exchanges will increase substantially. IEX is well poised to benefit from this transition reliability of power supply improves, power exchanges, being the most transparent way of price discovery, are well positioned to enhance its share from current level of 3% of total power requirement”.
About Motilal Oswal Private Equity Business
MOPE Investment Advisors Pvt. Ltd. (MOPE) is a subsidiary of Motilal Oswal Financial Services Ltd. (MOFSL), a diversified financial services group with businesses in Securities, Asset Management, Private Equity and Investment Banking. MOPE is currently managing two growth capital funds i.e. India Business Excellence Fund (IBEF) and India Business Excellence Fund II (IBEF II) focused on providing growth capital to mid-market companies, typically in the range of US$ 10-25 million, focused on domestic consumption, financial services, infrastructure ancillary, and manufacturing. IBEF, launched in 2007 is a Rs. 550 Cr ($ 125 million) is fully invested in thirteen portfolio companies. IBEF is in exit phase and already made nine partial exits. In 2012, MOPE raised IBEF II, a Rs.950 Cr (~USD 160 million) growth capital fund. Currently, IBEF II is in investment phase and has made eight investments.
In addition, MOPE is also managing three real estate funds – India Realty Excellence Fund (IREF) , IREF II and IREF III. IREF is a Rs. 200 Cr fund closed in December 2009. This fund is currently in its exit mode and has exited 4 out of 7 investments. IREF II is a Rs. 500 Cr fund which was closed in March 2015. IREF II is currently in investment mode and has invested across projects in MMR, Bangalore and NCR. IREF III is currently being raised with a target corpus of Rs 1,000 Cr, already announced first close at Rs 500 Cr
About Motilal Oswal Financial Services Limited
Motilal Oswal Financial Services Ltd. (NSE: MOTILALOFS, BSE: 532892, BLOOMBERG: MOFS IN) is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail. Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and Home Finance. MOSL won the “Best Equity Broking House – Institutional Clients” & Best Equity Broking House – Cash Segment” at the D& B Equity broking Awards 2015. Motilal Oswal Securities (MOSL) won the Best Performing National Financial Advisor Equity Broker' award at the CNBC TV18 Financial Advisor Awards 2014 for the 4 th year in a row. MOSL won ‘Best Equity Broker’ award at Bloomberg UTV Financial Leadership Awards 2012, ‘Retailer of the Year (Banking & Financial Services) award at Retail Excellence Awards 2012, and was ranked 2nd in the “Best Overall Brokerage” category by Asia Money in 2011. MOFSL won the ‘Best Employer Brand’ Award at the IPE Banking, Financial Services & Insurance Awards 2012. MOSL received the ‘Depository Participant of the Year’ award at the Money Today FPCIL Awards 2012 and was ranked among Top 3 in 4 categories in the Asia Money Brokers Poll 2012
For further details contact:
Mr. Hari Krishnan
Motilal Oswal Financial Services
Ph - +91-22-39825500
Mr. Anirudh Rajan/Alpesh Nakrani
Paradigm Shift Public Relations
Mob- +91-9892343828/ +91-9869121167
Tel- +91-22 22813797 / 98