IREDA IPO: Indian Renewable Energy Development Agency (IREDA), a state-run non-banking financial company (NBFC) launched an initial public offer (IPO) estimated to be worth Rs 2,150 crore today, November 21. The issue comprises fresh issuance of shares worth Rs 1,290 crore and an offer for sale (OFS) worth Rs 860 crore.
Here’s all you need to know about the upcoming IREDA IPO:
IREDA IPO important dates
The subscription window for the IPO will be available from 10 am to 5 pm for three trading days ending November 23. The basis of the allotment of shares, under the IPO, is likely to be finalised tentatively on November 29.
While unsuccessful bidders will have refunds initiated against their applications tentatively on November 30, the winning bidders are set to get shares credited to their demat accounts on December 1.
IREDA IPO subscription status
On Tuesday (Day 1), IREDA’s share sale received bids for 82,89,53,120 shares against 47,09,21,451 shares on offer. Overall, the public issue has been subscribed 1.76 times so far of the bidding process.
|Category||Subscription (No. of times the equity reserved)|
|Qualified institutional buyers||1.34|
|Source: Exchange data|
IREDA IPO listing date
IREDA shares are likely to be listed on stock exchanges BSE and NSE tentatively on December 4.
IREDA IPO issue price
The company’s board has set a price band of Rs 30-32 per share for the issue.
IREDA IPO lot size and price band
Potential investors will be able to bid for IREDA shares in multiples of 460 shares under the IPO, translating to Rs 13,800-14,720 per lot.
IREDA IPO: Book-running lead managers and registrar
While IDBI Capital Markets & Securities, BOB Capital Markets and SBI Capital Markets are the book-running lead managers, Link Intime India is the registrar for the issue.
What does IREDA do?
IREDA is into promoting, developing and extending financial assistance for new and renewable energy projects, and energy efficiency and conservation projects, offering 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.
It is also India’s largest pure-play green financing NBFC in India.
The company has a geographically diversified portfolio, with term loans outstanding across 23 states and five Union Territories as of September 30, and has four strategically located branches in Mumbai, Hyderabad, Chennai, and Bhubaneshwar to maximize geographical range in terms of territory.
With inputs from PTI
For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com