NEW DELHI: The government plans to submit draft listings for an IPO for the Indian Renewable Energy Development Agency (Ireda) by September, Secretary of the Department of Investments and Public Assets Management (Dipam) Tuhin Kanta Pandey said.
“We have appointed the merchant bankers and they will proceed with the assessment. We should be able to file the DRHP (Draft Red Herring Prospectus) in three to four months, possibly by September,” Pandey said. Ireda is a company of the Ministry of New and Renewable Energy and deals with the financing of renewable energy projects. Last month, the Cabinet Committee on Economic Affairs (CCEA) approved Ireda’s listing in an IPO to sell part of the government’s stake and raise funds for the company through an equity issue.
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