IPO of government company is coming
IPO; If you are thinking of investing money in IPO then there is good news for you. IPOs of major companies are coming next week. This company is Indian Renewable Energy Development Agency. The initial release date and release price were determined by IREDA. The IPO of the company will open from 21st November and will remain open till 23rd November. The issue price band of the company has been fixed at Rs 30-32 per share. The stock is currently available in the gray market at a price of Rs.
It is noteworthy that this IPO will open on 21st November and will close on 23rd November. The anchor book will open on November 20. The allotment of shares will take place on November 27 and refunds will start from November 28. The company will be listed in the stock market on December 1.
IREDA’s IPO comprises a fresh issue of 406.16 million shares and an offer for sale (OFS) of 268.78 million shares by the Modi government. At the upper price band, the company will raise about Rs 1290 crore through IPO and Rs 860 crore through OFS. At present the government has 100 percent stake in the company. Specifically, it is a wholly owned mini-ratna company, which deals in renewable energy and energy project finance in India.
