SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 17 Mar, 2023  

BSE.9.Thmb.jpg Cabinet approves listing of IREDA through IPO route

Bse.9..jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
IANS | 17 Mar, 2023
The Union Cabinet on Friday approved listing of Indian Renewable Energy Development Agency Ltd (IREDA) on stock exchanges through an initial public offer (IPO) by part sale of government's stake in the public sector entity.

The aim is to raise funds through issue of fresh equity shares by the IREDA, official sources said.

Department of Investment and Public Asset Management (DIPAM) will drive the listing process, the sources added.

This decision supersedes the earlier Cabinet Committee on Economic Affairs (CCEA) decision taken in June 2017 which had allowed the IREDA to issue 13.90 crore fresh equity shares of Rs 10 each to the public on book building basis through IPO route.

The instant decision has been necessitated due to change in capital structure following infusion of capital to the tune of Rs 1,500 crore by the government in March 2022.

The IPO will help in unlocking the value of government's investment on one hand, and on the other hand, will provide an opportunity to the public to acquire stake in the national asset and draw benefits therefrom.

Besides, it will help the IREDA in raising a part of its capital requirement for meeting growth plans without depending on the public exchequer, and improve governance through greater market discipline and transparency arising from listing requirements and disclosures.

The IREDA is a wholly owned mini-Ratna company, engaged in financing of renewable energy and energy efficiency projects in India.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter