IDBI, BOB, and SBI Capital Chosen to Manage IREDA IPO for Renewable Energy Development

The Indian Renewable Energy Development Agency (IREDA) is preparing to go public with an initial public offering (IPO) in the near future. To oversee this significant event, IDBI Capital, BOB Capital, and SBI Capital have been appointed as the lead managers for the IPO. The government intends to sell a 10% stake, while IREDA plans to issue a 15% fresh equity to fund its renewable energy project financing.

Appointment of Lead Bankers and Legal Advisor

IDBI Capital has been chosen as the lead banker for the IREDA IPO, supported by BOB Capital and SBI Capital. Saraf and Partners have been appointed as the legal advisor for the IPO, assisting with legal matters related to the offering.

Expected IPO Details

The IREDA IPO is expected to take place in the financial year 2023-24. It will involve a 10% stake sale by the government and a 15% fresh equity issuance by IREDA. The primary purpose of the IPO is to raise funds for the expansion of IREDA’s business operations in the renewable energy sector, with the aim of completing the listing within the current financial year.

Search for Advertising Agency and Registrar

The government has invited applications for hiring an advertising agency and a registrar for the IREDA IPO. These appointments will play crucial roles in promoting the IPO and ensuring a smooth process for potential investors.

Unlocking Value and Improving Corporate Governance

Listing unlisted state-owned firms, including IREDA, has become a priority for the Indian government. This initiative aims to unlock hidden value in these companies and enhance corporate governance practices. The decision to take IREDA public follows the approval of the IPO by the Cabinet Committee on Economic Affairs (CCEA) on March 17.

IREDA’s Contribution to Renewable Energy Financing

Established in 1987, IREDA specializes in financing Renewable Energy (RE) and Energy Efficiency (EE) projects in India. Over the years, the company has played a significant role in supporting the growth of renewable energy capacity. It has financed over 3,068 RE projects, resulting in the addition of 19,502 MW of RE capacity in the country.

Financial Performance and Future Prospects

In the first nine months of the financial year 2022-23, IREDA reported a notable 50% year-on-year increase in net profit, reaching Rs 611 crore. With the upcoming IPO, IREDA aims to capitalize on its success and further expand its operations to contribute to India’s clean energy goals.


The selection of IDBI Capital, BOB Capital, and SBI Capital as lead managers marks a significant step towards the IREDA IPO for renewable energy development. This IPO is expected to generate funds for the company’s expansion in the renewable energy sector. The move reflects the Indian government’s focus on unlocking value and improving corporate governance in state-owned firms. IREDA’s track record in financing renewable energy projects and its positive financial performance position it well for future growth and contribution to India’s clean energy targets.

IREDA IPO for Renewable Energy Development – FAQs

Q1: What is the news about “IDBI, BOB, and SBI Capital Chosen to Manage IREDA IPO for Renewable Energy Development”?

Ans: According to the news, IDBI Bank, Bank of Baroda (BOB), and SBI Capital have been chosen to serve as the managing underwriters for the Indian Renewable Energy Development Agency’s initial public offering (IPO).

Q2: What is IREDA?

Ans: The Indian Renewable Energy Development Agency is known as IREDA. It is an Indian financial institution that is controlled by the government and promotes and finances renewable energy projects all around the nation.

Q3: What does the IPO for IREDA mean?

Ans: IREDA’s proposal to go public by selling shares of its stock to the general public is referred to as the company’s initial public offering (IPO). IREDA hopes to raise money from investors through the IPO to assist its projects for the growth of renewable energy.


  • Pritipalit

    Priti Palit, an accomplished edtech writer, boasts a wealth of experience in preparing candidates for multiple government exams. With a passion for education and a keen eye for detail, she has contributed significantly to the field of online learning. Priti's expertise and dedication continue to empower aspiring individuals in their pursuit of success in government examinations.

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