 "IPO")
The government has approved an initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA), enabling it to mobilise funds for the clean energy sector. The Cabinet Committee on Economic Affairs (CCEA) on Wednesday allowed IREDA to issue fresh 139 million shares, increasing the paid-up share capital of the company from Rs 784 crore to Rs 923 crore. At present the company has 784.6 million equity shares.
The quantum of funds to be raised through the IPO will be ascertained later as the shares will be issued at a premium through the book-building process, which will lead to price
