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. Read more