The issue will help accelerate renewal energy financing
Indian Renewable Energy Development Agency Ltd.
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Quarterly performance largely backed by improved realisations
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Medium-term triggers China plus and protectionist measures for tyre industry
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Valuations not inexpensive; but improved medium-term outlook
Highlights:
Operates in the niche segment of renewable energy financing
Large market opportunity for exponential growth
Mostly secured and well-diversified asset base
Improving asset quality, negligible write-offs
IPO pricing is reasonable
The initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) of Rs 2150 crore opens for subscription on Tuesday (November 21). The IPO consists of a fresh issue of Rs 1290 crore and an offer-for-sale (OFS) from the government for 26.9 crore shares, representing 25 percent of pre-issue equity capital at a price…
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