The IPO of state-owned Indian Renewable Energy Development Agency (IREDA) will open for subscription on November 21 and investors can place stakes in the issue till November 23. Let us tell you that this will be the first IPO of a public company after the public issue of Life Insurance Corp in May last year.
The price band is yet to be decided
40.31 crore new shares will be issued in the public sector IREDA’s IPO. Apart from this, the proposal of sale of 26.88 crore shares by the Government of India is included. The price band for the issue will be announced shortly. The company has reserved 18.75 lakh equity shares for its employees. The issue of the proposal is fresh except for the employee part.
What are the details?
Half of the issue size is reserved for qualified institutional buyers and 15 percent is reserved for high net worth individuals. Also, the remaining 35 percent of the share net issue size is reserved for retail investors.