IREDA Secures INR 643.26 Crore from Anchor Investors Ahead of IPO Launch
IREDA allotted a total of 20,10,19,726 equity shares at INR 32 per share to anchor investors, with 13 mutual funds among the participants.
November 23, 2023. By News Bureau
This comes just ahead of the launch of IREDA's initial public offering (IPO). The IPO subscription period began on November 21, and is set to conclude on November 23.
IREDA allotted a total of 20,10,19,726 equity shares at INR 32 per share to anchor investors, with 13 mutual funds among the participants. Notably, these mutual funds applied through a collective total of 32 schemes in the IREDA IPO anchor book.
Among the prominent anchor investors are SBI Banking & Financial Services Fund, HDFC Mutual Fund, ICICI Prudential Midcap Fund, Nippon Life India AMC, Kotak India Equity Contra Fund, Aditya Birla Sunlife Mutual Fund, and Goldman Sachs (Singapore). Other participants include DSP Tax Saver Fund, BNP Paribas Arbitrage, Societe Generale, Gam Star Emerging Equity, White Oak Midcap Fund, Sundaram Mutual Fund, and Copthall Mauritius Investment.
IREDA, a wholly owned Government of India enterprise under the Ministry of New and Renewable Energy (MNRE), is making strides to strengthen the renewable energy sector in the country.
The IPO's anchor investor phase has witnessed robust participation, indicating investor confidence in IREDA's potential and the renewable energy market.
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