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"We believe the listing premium is justified on the back of the company being tagged as leading PSU player in renewable energy financing and advisory services and a possible upgradation from a Mini Ratna to a Navratna company in near future which increases financial autonomy, allowing it to accelerate faster in the competition," said Prashant Tapse of Mehta Equities.
IREDA IPO | The public issue of 67.19 crore equity shares comprises a fresh issue of 40.31 crore shares worth Rs 1,290.13 crore, and an offer-for-sale (OFS) of 26.87 crore shares worth Rs 860.08 crore by the Government of India.
Incorporated in 1987, Indian Renewable Energy Development Agency is a government company, which has a miniratna status government enterprise.
IREDA, an NBFC, will launch its IPO on November 21 and plans to raise ₹2,150 crore. The offer includes a fresh issue of ₹1,290.13 crore and an offer for sale of ₹860.08 crore.
Explore the details of the Indian Renewable Energy Development Agency Ltd.'s maiden public issue, opening today for subscription.Get insights on the lot size, GMP and much more at news18.com