IREDA IPO price band set at ₹30-32/share; targets ₹2,150 crore

The Indian Renewable Energy Development Agency (IREDA) is going to raise ₹2150 crores via initial public offerings. The IREDA IPO will open on November 21 and will close on November 23. IREDA IPO price band is fixed at ₹30 to ₹32 per share.

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IREDA IPO to raise around ₹2150 crores via IPO that comprises fresh issue of ₹1290 and offer for sale up to 268,776,471 Shares of ₹10 each. The retail quota is 35%, QIB is 50%, and HNI is 15%. This will be the first IPO by a public sector enterprise after LIC IPO last year.

IREDA IPO GMP is active and will list on premium as per the market speculations and the grey market indicates. Investors should closely watch the daily updates of IPO GMP.

The peer group of the company are REC Limited and Power Finance Corporation. Link Intime India Private Limited is the register of the IREDA IPO. The merchant bankers of the company are BOB Capital Markets Limited, SBI Capital Markets Limited, and IDBI Capital Markets & Securities Limited.

Indian Renewable Energy Development Agency (IREDA) is a wholly owned Government of India (“GoI”) enterprise under the administrative control of the Ministry of New and Renewable Energy (the “MNRE”). The Company was notified as a“Public Financial Institution” (“PFI”) under Section 4A of the Companies Act, 1956 by the Department of Company Affairs, Ministry of Law, Justice and Company Affairs, Government of India on October 17, 1995 and is registered with the Reserve Bank of India (the “RBI”) as a Systemically Important Non-Deposit-taking Non-Banking Finance Company (a “NBFC-ND-SI”), with Infrastructure Finance Company (“IFC”) status.

Note: The article is written by our editors by the internet sources available online. Please email us if any changes are required.

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