₹2,150 crore through the IPO, consisting of a fresh issue of ₹1,290.13 crore and an offer for sale of ₹860.08 crore. The price band for the offer has been fixed at ₹30–32 per equity share, with a face value of ₹10 each. The net offer will be reserved for qualified institutional buyers at 50% of the total offer size, non-institutional investors at 15%, and retail investors at 35%.
Also Read: IREDA IPO opens today. GMP, price, date, review, other details. Apply or not? Retail investors have the opportunity to submit bids for up to 13 lots, with each lot containing 460 shares.
At the upper end of the IPO price band, at ₹32, retail investors are required to make a minimum investment of ₹14,720 per lot. Let us take a look at some of the key points mentioned in the IREDA IPO RHP. IREDA is an NBFC established in 1987 to provide innovative financing in RE and energy efficiency, conservation, and environmental technologies.
It is a wholly owned Government of India (“GoI") enterprise under the administrative control of the Ministry of New and Renewable Energy (the “MNRE"). Also Read: IREDA IPO: PSU raises ₹643 crore from anchor investors In September 2023, the company was upgraded from Schedule B to Schedule A in the list of CPSEs by the Department of Public Enterprises (“DPE"). The company was also conferred with Mini Ratna (Category I) status in June 2015 by the DPE, according to the company RHP report.Read more on livemint.com