common investors Is about to get another golden investment opportunity. In fact, the government is preparing to launch an IPO of the public sector Indian Renewable Energy Development Agency (IREDA). According to the information received, the government may submit draft documents for IREDA’s initial public offering (IPO) by September. Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) has given this information. Pandey said, “We have appointed merchant bankers and they will go ahead with the valuation. We will be able to file draft documents in three-four months.
Approval was given to sell the stake last month
IREDA, a public sector undertaking under the Ministry of New and Renewable Energy (MNRE), provides financing for renewable energy and energy efficiency projects. The Cabinet Committee on Economic Affairs (CCEA) had last month approved the listing of IREDA by selling some of the government’s stake. The government wants to raise funds for IREDA by issuing new shares. IREDA is a Non-Banking Financial Company (NBFC). In March 2022, the government had infused Rs 1,500 crore in IREDA. In the financial year 2022-23, the company had earned its highest ever net profit of Rs 865 crore.
IKIO Lighting price band Rs 270-285
IKIO Lighting, which makes LED products and fan regulators, has fixed a price band of Rs 270 to Rs 285 per equity share for its Rs 606-crore initial public offering (IPO). The Noida-based company said in a statement on Thursday that applications for the IPO can be submitted from June 6 to 8. The bid for anchor ie big investors will open on June 5. Under the IPO, fresh equity shares worth up to Rs 350 crore will be issued while promoters Hardeep Singh and Surmeet Kaur will put up to 90 lakh equity shares under the offer for sale. At the higher end of the price band, the company is expecting to raise Rs 606.5 crore through the IPO. The company will use the funds to pay off debt, invest in subsidiary IKIO Solutions and set up a new factory in Noida, Uttar Pradesh.
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