Cabinet approves IREDA IPO

June 07, 2017 09:49 pm | Updated 09:49 pm IST - NEW DELHI

The Cabinet on Wednesday approved an IPO by the Indian Renewable Energy Development Agency.

It approved the issue of 13.9 crore equity shares of ₹10 each. It also approved the issue of shares to retail investors and IREDA employees at a discount of 5% on the issue price, with a cap of 0.5% on equity post issue for central public sector enterprise employees.

IREDA is registered as a non-banking financial company. It has worked closely with the Ministry of New and Renewable Energy to help implement policies.

The number of shares to be issued to employees and retail investors will be finalised in consultation with the lead managers and as per the SEBI regulations.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.