IREDA gets approval to launch its IPO

IREDA has received approval from the Securities and Exchange Board of India for launching its initial public offering (IPO). The shares will be traded on the Bombay Stock Exchange and the National Stock Exchange. Under the offering, IREDA is planning to issue 139 million equity shares at a base price of Rs 10 per share on a book-building basis. In addition to this, the company will be issuing shares at a discount of 5 per cent on the issue price of each share, to its retail investors and employees. YES Securities (India) Limited, Elara Capital (India) Private Limited, IDBI Capital Markets & Securities Limited, SBI Capital Markets Limited, and Link Intime India Private Limited will be managing the IPO.


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