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Hindustan Power Exchange Limited (HPX India) logo
UNLISTED COMPANY PROFILE

HINDUSTAN POWER EXCHANGE LIMITED (HPX INDIA)

FINANCIALS LINE
INDICATIVE PRICE / SHARE
₹24
▼ 4.0% · 30-DAY
OTC REFERENCE PRICE · NOT AN OFFER TO DEAL
PRICE AS OF 02 SEPT 2026
VIEW DATA METHOD →
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INDICATIVE PRICE HISTORY · DATED OBSERVATIONS SINCE 2024

PRICE HISTORY.

Use the left and right arrow keys to inspect dated observations. Home selects the first observation and End selects the latest.

₹685
₹24
19 Dec 2425 May 2602 Sept 26

ALL-TIME LOW
₹24
ALL-TIME HIGH
₹685
WINDOW
ALL
NOT A STOCK-EXCHANGE QUOTE · NOT AN OFFER TO DEAL
THE TIMETABLE · KEY NUMBERS

Key numbers

Published fundamentals and the date each figure was recorded.

CALCULATION METHOD →
Market cap
₹1,547 Cr
Latest available company data
Min. investment
₹10,080
Indicative price × lot size
Lot size
420
P/E ratio
143.95
P/B ratio
19.67
EPS
0.19
ROE
17.22%
Book value
₹1.22
Face value
₹1
ISIN
INE07WD01012
Company security identifier
THE BUSINESS · HOW IT EARNS

Hindustan Power Exchange Limited operates a CERC-licensed power exchange. Its core activity is to provide the automated platform and infrastructure used for trading electricity units for physical delivery and Renewable Energy Certificates (RECs). The company’s annual report describes spot trading in power/electricity and REC trading as its licensed activities. The platform serves members and other eligible market participants that transact under the exchange’s rules, with the company supplying the exchange venue and operating infrastructure. Its report records approvals during FY2023-24 for ancillary services in the day-ahead and real-time markets, and for high-price day-ahead, term-ahead and contingency contracts. Those approvals identify the regulated market products covered in the company’s business during the year. The financial statements separately report revenue from operations, investment income and other income, while the report identifies technology, service offerings and member-client growth as elements of its operating plan.

About this company

Hindustan Power Exchange Limited, widely known as HPX India, operates a licensed electronic power exchange that brings buyers and sellers of electricity together on a single automated trading platform. Incorporated in 2018 and previously named Pranurja Solutions Limited, the company secured regulatory clearance from the Central Electricity Regulatory Commission and commenced live operations in July 2022, making it one of the newer entrants in India's organised power-trading market. The exchange facilitates trading across several segments of the short-term electricity market, including day-ahead, term-ahead, and real-time contracts, alongside renewable energy certificates and related products, all settled with physical delivery of power across the country. By matching demand and supply transparently through market-determined clearing prices, HPX provides utilities, industrial consumers, and generators an alternative venue for sourcing and selling power. Since launch the platform has scaled its traded volumes rapidly, handling several billion units of electricity within its first years of operation as participants on-boarded onto the exchange. A defining feature of HPX is its promoter group. The company is backed by PTC India Limited, a long-established power-trading entity, together with BSE Investments Limited, an arm of the Bombay Stock Exchange that contributes exchange and technology expertise, and ICICI Bank Limited. This combination of energy-sector, capital-markets, and banking lineage gives the venture institutional credibility and operational depth that is unusual for an early-stage exchange. In the unlisted market, HPX India draws attention because it sits in a regulated, infrastructure-like segment of the power economy with a small number of authorised exchanges, and because of its recognisable parentage. The company reports profitability with healthy operating margins on a modest revenue base, and its face value of ₹1 per share and large share count make individual shares accessible. As the company has not yet filed for a public listing, its shares are available only through off-market transactions, where prices are indicative and negotiated rather than continuously quoted on a stock exchange.

COMPANY AT A GLANCE
Sector lineFinancials
SettlementNSDL / CDSL
Incorporated2018
Listing statusUnlisted / Pre-IPO
*INDICATIVE · TIMELINE MAY CHANGE · NOTHING FINAL UNTIL THE RHP

COMPANY REGISTRY · ON FILE

PUBLIC OR ADMIN-SUPPLIED DATA · VERIFY INDEPENDENTLY
CIN
U74999MH2018PLC308448
PAN
AAJCP8333P
Incorporated
2018
Outstanding shares
55,25,00,000 (552,500,000) shares
Registered office
25th Floor, P. J. Towers, Dalal Street, Fort, Mumbai 400001, Maharashtra, India
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THE LOGBOOK · FINANCIALS BY YEAR

WHAT THE ENGINE HAS DONE.

AMOUNT UNIT NOT VERIFIEDFY22FY23FY24FY25
REVENUE2301,5503,6403,144
PAT-310-1,0001,4931,066
EPS (₹)-0-000
PAT MARGIN-135%-65%41%34%
CAUTION · AMOUNT UNIT AND FIELD-LEVEL SOURCES HAVE NOT BEEN VERIFIED · DO NOT RELY ON THESE FIGURES WITHOUT CHECKING THE COMPANY FILING

THE CREW · BOARD & MANAGEMENT

Harish Saran
Managing Director & CEO
Amit Ghai
Chief Financial Officer (CFO)
Niraj Nabh Kumar
Director
Deepak Goel
Nominee Director (BSE)
Vishnu Kant
Nominee Director (ICICI Bank)
Bikram Singh Guram
Nominee Director (PTC India)
COMPANY TIMELINE · EVENTS
An 8th EGM notice was issued proposing Harish Saran’s appointment as Managing Director; the meeting was scheduled for 2 June 2025. (11 May 2025)
READ THE NOTICE →
THE GLOVEBOX · ANNUAL REPORTS
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NON-BINDING · NO PAYMENT · NOT AN OFFER TO DEAL
RESEARCH DESK · QUESTIONS

COMMON QUESTIONS.

Is Hindustan Power Exchange Limited (HPX India) listed on the stock exchange?+

No. As of 2 September 2026, Hindustan Power Exchange Limited (HPX India) is an unlisted company whose shares trade over-the-counter; it would list only if and when it completes an IPO.

What is the Hindustan Power Exchange Limited (HPX India) unlisted share price?+

As of 2 September 2026, the indicative unlisted share price of Hindustan Power Exchange Limited (HPX India) is ₹24 per share. This is an over-the-counter reference price, not a stock-exchange quote.

What indicative minimum amount is displayed for Hindustan Power Exchange Limited (HPX India) unlisted shares?+

The displayed unit count is 420 share(s); at the indicative price of about ₹24, the displayed amount is approximately ₹10,080. This is a display convention, not evidence of inventory, an order minimum or a quote.

What is the ISIN of Hindustan Power Exchange Limited (HPX India)?+

The recorded ISIN of Hindustan Power Exchange Limited (HPX India) is INE07WD01012. An ISIN is a 12-character security identifier. Verify it against the issuer and the relevant depository record before using it for any transfer or documentation.

Is trading in Hindustan Power Exchange Limited (HPX India) unlisted shares legal in India?+

Unlisted shares can be transferred off-market in India, but the legal, tax and compliance position depends on the security, parties, documents and current rules. Verify the intermediary, issuer restrictions and applicable requirements before proceeding.

Is there a lock-in period for unlisted shares?+

A post-listing lock-in may apply under the rules in force at the time. The period and any exemptions can depend on the holder and acquisition, so check the current regulation and the issuer's offer documents rather than relying on a generic period.

Do you guarantee returns?+

No. Unlisted shares carry higher risk and lower liquidity than listed shares. Returns depend on company performance, market conditions and future listing outcomes. This is information only, not investment advice.

SIMILAR COMPANY PROFILES
FINANCIALS LINE.
Prices shown are indicative over-the-counter reference prices, not an offer to deal. This page is information only and not investment advice. Unlisted shares carry higher risk and lower liquidity than listed shares. Settlement to your own demat account via NSDL / CDSL through registered intermediaries.
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