IREDA IPO: Sets Price Band for Rs 2,150 Crore
The public offering is scheduled to commence on November 21 and will close on November 23.
New Delhi: The Indian Renewable Energy Development Agency Ltd (IREDA), a government-owned enterprise, has set the stage for its much-anticipated Initial Public Offering (IPO). The price band for the IPO has been fixed at Rs 30-32 per equity share, a move that promises to catalyze the nation's renewable energy sector.
The public offering is scheduled to commence on November 21 and will close on November 23, giving investors a brief window to partake in this significant event. The IPO consists of a fresh issuance of equity shares and an Offer for Sale (OFS), a strategic plan that is expected to raise an impressive Rs 2,015.82 - Rs 2,150.21 crore.Read Also : IIM Lucknow Triumphs in NTPC Electron Regional Finals, Followed by IIT BHU and IIT Kanpur
IREDA, known for its commitment to financing new and renewable energy projects, has showcased a robust financial performance. The company has reported a substantial net profit of Rs 864.63 crore in FY23, further highlighting its strong foothold in the renewable energy sector.
The company's portfolio is geographically diversified, signifying its widespread influence and commitment to fostering renewable energy initiatives across the nation. IREDA has also appointed book-running lead managers to ensure the seamless execution of the IPO.Read Also : Air Marshal Praveen Keshav Vohra takes over as Senior Air Staff Officer of Western Air Command, IAF
The forthcoming IPO represents a key moment in IREDA's journey and marks a new chapter in India's renewable energy story. It demonstrates the company's growth trajectory and its pivotal role in driving the nation towards a sustainable future. As IREDA gears up for this landmark event, the focus remains on capitalizing on its robust performance and cementing its position as a leader in India's renewable energy sector.Read Also : iDEX-DIO signs 300th contract for Defence Innovation
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