The company said the move is aimed at evaluating a new business opportunity in coal trading and added that further disclosures will be made as developments progress.
The proposal aligns with IEX’s broader strategy to expand beyond electricity trading and tap into emerging segments within the energy market.
CNBC-TV18 had reported in April last year that IEX was working towards launching a coal exchange, with Joint Managing Director Rohit Bajaj stating that the company is “very bullish” on the opportunity and is engaging with the government and other stakeholders.
Shares of IEX reacted positively to the development, rising over 3% intraday to ₹124.10 on the NSE.
In the December quarter, the company reported an 11% year-on-year rise in net profit to ₹119 crore, while revenue grew 10% to ₹146 crore.
EBITDA for the quarter stood at ₹122.3 crore, up 8%, with margins largely stable at 84%.
IEX reported 11.9% growth in electricity traded volume to 34.08 billion units during the quarter. While day-ahead market volumes declined 2.8%, the real-time market segment grew 35.7%, indicating a shift in trading patterns.
