New Delhi, November 21 (Language) The initial public offering (IPO) of the public sector Indian Renewable Energy Development Agency (IREDA) was subscribed 1.95 times on Tuesday, the first day of bidding.
According to NSE data, bids for 91,98,25,200 shares were received against the 47,09,21,451 shares offered under the Rs 2,150 crore IPO.
Bids were placed 2.73 times in the non-institutional investors category, 1.97 times for retail individual investors (RIIs) and 1.34 times for qualified institutional investors (QIBs).
There are 40,31,64,706 new equity shares under the IPO and 26,87,76,471 shares under the offer for sale (OFS).
The price range for the IPO is Rs 30-32 per share.
IREDA has raised Rs 643 crore from anchor (large) investors.
This is the first IPO of a public sector company since Life Insurance Corporation of India (LIC) in May last year.
IREDA is a Mini Ratna Company, controlled by the Ministry of New and Renewable Energy.
Language Anurag Raman