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News Details

15/11/2023 11:12

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Indian Renewable announces launch of initial public offering

Indian Renewable Energy Development Agency Ltd. has announced public offering of 671941178 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 22.00 per share. The gross proceeds of the issue are expected to be Rs 2,15,021.18 lakhs.

The company's initial public offer (IPO) will open on 21 November 2023 and is expected to close on 23 November 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 30.00-32.00 per share.

The IPO includes a fresh Issue of 671941178 Equity Shares of the Company at an price of Rs 32.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 460 shares with bids in multiples of 460.

Indian Renewable Energy Development Agency Ltd. anticipates using the proceeds of the issue for .

IDBI Capital Markets & Securities Limited,BOB Capital Markets Ltd.,SBI Capital Markets Ltd. as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.