NEW DELHI: The government is planning to file draft papers for an IPO of Indian Renewable Energy Development Agency (Ireda) by September, department of investment and public asset management (Dipam) secretary Tuhin Kanta Pandey said.
“We have appointed the merchant bankers and they will proceed with valuation. We should be able to file the DRHP (draft red herring prospectus) in 3-4 months, could be by September,” Pandey said. An enterprise under ministry of new and renewable energy, Ireda is engaged in the financing of renewable energyprojects. Last month, the Cabinet Committee on Economic Affairs (CCEA) approved the listing of Ireda through an IPO to part sale the government’s stake and raise funds for the company through the issue of equity.
“We have appointed the merchant bankers and they will proceed with valuation. We should be able to file the DRHP (draft red herring prospectus) in 3-4 months, could be by September,” Pandey said. An enterprise under ministry of new and renewable energy, Ireda is engaged in the financing of renewable energyprojects. Last month, the Cabinet Committee on Economic Affairs (CCEA) approved the listing of Ireda through an IPO to part sale the government’s stake and raise funds for the company through the issue of equity.