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Hindustan Power Exchange (HPX) formerly known as Pranurja Solutions is the new age power exchange in Indian Electricity Market. It provides a comprehensive market platform for different electricity products providing a transparent, seamless and robust exchange platform for the market participants. HPX provides opportunity to market participants to transact in most equitable and transparent manner giving its customers unmatched user experience through advanced technology and customized value added services. Turnover was Rs 1.74 crore for financial year 2022-2023.
Equity participation will be upto 19% of proposed equity share capital of Rs 75 crore of Hindustan Power Exchange, upto Rs 14.25 crore. As of now, the paid-up capital is only Rs 55.25 crore. The said transaction is expected to be completed within 6 Months.
Meanwhile, the company’s board also approved the revision in market borrowing programme under different debt segments with interchangeability amongst various instruments including bonds/ debentures, term loans, external commercial borrowings, commercial papers etc. on private/ public placement basis from Rs 1,20,000 crore to Rs 1,50,000 crore for FY 2023-24.
The funds under the said revised market borrowing programme will be raised, from time to time, during the financial year 2023-24, with the approval of competent authority as per powers delegated in this regard by the Board of Directors, in the said meeting.
REC is a leading Infrastructure Finance Company in India and the principal products of REC are interest-bearing loans to State Electricity Boards, State Power utilities/State Power Departments and Private sector for all segments of Power infrastructure.
The company’s consolidated net profit jumped 38.7% to Rs 3,789.90 crore on 17.4% jump in total income to Rs 1,1701.26 crore in Q2 FY24 over Q2 FY23.
Shares of REC rose 0.41% to Rs 344 on the BSE. The scrip also hit an all-time high at Rs 352.
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