IREDA’s IPO to be managed by IDBI, BOB, and SBI Capital

The Indian government has appointed IDBI Capital, BOB Capital and SBI Capital to oversee the Indian Renewable Energy Development Agency’s initial public offering (IPO). IDBI Capital is the principal banker of the transaction while Saraf and Partners has been designated as the IPO’s legal counsel. The IPO is scheduled in 2024. So far, the company has financed over 3,068 renewable energy project loan accounts with a total loan sanction and disbursement of Rs 1.42 trillion and Rs 0.9 trillion, res­pectively. It has also supported the installation of 19,502 MW of re­newable energy capacity in the country.