IREDA IPO: NBFC company to hit capital market to raise ~INR 2,016 crores through public issue

IREDA is into Financial Services NBFC and is looking raise funds through Fresh Issue & Offer for Sale

IREDA to raise Fresh Issue aggregating up to Rs crores and an Offer for Sale up to 268,776,471 Equity Shares through public issue IPO

IREDA IPO Update:

Indian Renewable Energy Development Agency Limited IPO: New Delhi based Indian Renewable Energy Development Agency Limited established in the year 1987 and is into Financial Services - NBFC sector.

Company is promoted by The President of India acting through The Ministry of New and Renewable Energy, Government of India. Pre-Offer Promoter and Promoter group stake in the company is 100.%.

Indian Renewable Energy Development Agency Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 2,150 Crores calculated on upper price band (face value of INR 10 per share) via initial public offering.

Initial Public Offer comprising of a Fresh Issue aggregating up to 403,164,706 Equity shares and an Offer for Sale up to 268,776,471 Equity Shares. IDBI Capital Markets & Securities, BOB Capital Markets, SBI Capital Markets have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent.

Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 30 to Rs 32 with lot size of 460 shares and in multiples thereof. Objects of the issue is Augmenting capital base to meet future capital requirements and onward lending..

IPO Dates:

IPO will open on November 21, 2023 and close on November 21, 2023. Tentative date of listing on stock exchanges is December 01, 2023

Want to know more details about the IPO, please visit here Indian Renewable Energy Development Agency Limited

Source: SEBI, BSE, NSE, DRHP, IREDA, Industry Data

Disclaimer: Above article only publishes details about the IPO and for educational purpose only. It doesn't solicit or invite any interest to invest in any kind of securities. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.