Bhubaneshwar: Indian Renewable Energy Development Agency Limited, a Government of India (“GoI”) enterprise notified as a “Public Financial Institution” (“PFI”) registered as a Systemically Important Non-Deposit-taking Non-Banking Finance Company (a “NBFCND-SI”), with Infrastructure Finance Company (“IFC”) status, has fixed the price band at ₹30 to ₹32 per Equity Share for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open for public on Tuesday, November 21, 2023, for subscription and close on Thursday, November 23, 2023. Investors can bid for a minimum of 460 Equity Shares and in multiples of 460 Equity Shares thereafter.
The Offer comprises of fresh issuance of Equity Shares up to 403,164,706 equity shares and an Offer for Sale (OFS) of up to 268,776,471 equity shares aggregating to up to 671,941,177equity shares.
IREDA is a financial institution with over 36 years of experience in promoting, developing and extending financial assistance for new and renewable energy projects, and energy efficiency and conservation projects. It provides a comprehensive range of financial products and related services, from project conceptualisation to post-commissioning, for renewable energy projects and other value chain activities, such as equipment manufacturing and transmission.