SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 17 Mar, 2023  

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

   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
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 :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter