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With a loan book size of Rs 47,515 crore, IREDA lends to the sole sector of renewable energy in India thereby making it the country’s largest pure-play green energy financer. It has significantly improved asset quality over the past three years. The lender operates in a high-growth sector given the government’s thrust on green energy. Given these factors and a reasonable valuation, long term investors may consider the IPO. ....
IREDA is looking to raise Rs 2,150.21 crore via its primary stake sale, which includes a fresh share sale component of Rs 1,290.13 crore and OFS of 268,776,471 shares of up to Rs 860.08 crore. ....