Indian Renewable Energy Development Agency Ltd. will launch its initial public offering on Nov. 21.
The state-run company plans to raise Rs 2,150 crore via a fresh issue and an offer for sale.
The IPO will comprise a fresh issue of 40.32 crore equity shares worth up to Rs 1,290 crore. The company also has an offer for sale of 26.69 crore shares, worth up to Rs 860 crore, by promoter selling shareholder.
The price band is fixed between Rs 30 and Rs 32 per share. At the upper price band, the company is valued at a Rs 8,600.85 crore market capitalization.
Out of the total IPO size, 50% is reserved for qualified institutional buyers, 15% for non-institutional investors, and the remaining 35% is to be allotted to retail individual investors.