{"id":109702,"date":"2023-09-12T13:43:07","date_gmt":"2023-09-12T08:13:07","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=109702"},"modified":"2023-09-12T13:43:13","modified_gmt":"2023-09-12T08:13:13","slug":"state-owned-ireda-submits-preliminary-documents-to-sebi","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/state-owned-ireda-submits-preliminary-documents-to-sebi\/","title":{"rendered":"State-owned IREDA submits preliminary documents to Sebi"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-933643111\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>In order to collect money through an Initial Public Offering (IPO), the government-run Indian Renewable Energy Development Agency (IREDA) has submitted draft papers with Sebi.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1433640303\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The state-owned company is planning to go public for the third time following two unsuccessful bids in 2017 and 2019 against the backdrop of unfavourable market conditions.<\/p><p>According to the Draft Red Herring Prospectus (DRHP) that was filed on Thursday, The IPO consists of a fresh issue of up to 40.31 crore equity shares and an Offer For Sale (OFS) of up to 26.88 crore equity shares by the President of India, acting through the Ministry of New and Renewable Energy, Government of India.<\/p><p>Through the book-building process, which limits the amount of the issue that can be allocated to qualified institutional purchasers to 50 per cent, the offer is being made.<\/p><div class=\"trade-content_5\" id=\"trade-2497683\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>A minimum of 15 per cent of the offer must be made available to non-institutional bidders, and a minimum of 35 per cent must be made available to retail individual bidders.<\/p><p>It is the first public issue by a public sector enterprise after Life Insurance Corporation&#8217;s IPO in May last year.<\/p><p>Proceeds from the fresh issue will be used for augmenting IREDA&#8217;s capital base to meet its future capital requirements and onward lending.<\/p><p>IREDA is a mini ratna firm with administrative controls with the Ministry of New and Renewable Energy.<\/p><p>For renewable energy projects and allied operations including equipment production and transmission, the organization provides a wide range of financial products (fund and non-fund based) and related services from project initiation to post-completion.<\/p><p>As of June 30, its portfolio of outstanding term loans stood at Rs 47,206.66 crore, reflecting its diverse investment ventures.<\/p><div class=\"trade-content-10\" id=\"trade-4218258552\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>During FY23 and the first three months of the current fiscal, IREDA sanctioned total loans amounting to Rs 32,586.61 crore and Rs 1,892.45 crore, respectively.<\/p><p>BOB Capital Markets Ltd, SBI Capital Markets Ltd and IDBI Capital Markets &amp; Securities Ltd are the book-running managers to the issue.<\/p><p>The shares of the company will be listed on the BSE and NSE.&nbsp;<\/p><div class=\"trade-after-content\" id=\"trade-1485882809\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>In order to collect money through an Initial Public Offering (IPO), the government-run Indian Renewable Energy Development Agency (IREDA) has submitted draft papers with Sebi. The state-owned company is planning to go public for the third time following two unsuccessful bids in 2017 and 2019 against the backdrop of unfavourable market conditions. According to the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":94946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-109702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>State-owned IREDA submits preliminary documents to Sebi - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"In order to collect money through an Initial Public Offering (IPO), the government-run Indian Renewable Energy Development Agency (IREDA) has submitted draft papers with Sebi.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/state-owned-ireda-submits-preliminary-documents-to-sebi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State-owned IREDA submits preliminary documents to Sebi\" \/>\n<meta property=\"og:description\" content=\"In order to collect money through an Initial Public Offering (IPO), the government-run Indian Renewable Energy Development Agency (IREDA) has submitted draft papers with Sebi.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/state-owned-ireda-submits-preliminary-documents-to-sebi\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-12T08:13:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-12T08:13:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/03\/SEBI-cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/state-owned-ireda-submits-preliminary-documents-to-sebi\/\",\"url\":\"https:\/\/tradebrains.in\/features\/state-owned-ireda-submits-preliminary-documents-to-sebi\/\",\"name\":\"State-owned IREDA submits preliminary documents to Sebi - 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