New Delhi, Nov 22: State-owned Indian Renewable Energy Development Agency (IREDA) has mobilised Rs 643 crore from anchor investors.
The company has allotted 20,10,19,726 equity shares to 58 funds at Rs 32 apiece, which is also the upper-end of the price band.
Goldman Sachs, Integrated Core Strategies (Asia), Societe Generale, GAM Star Emerging Equity, BNP Paribas Arbitrage, Copthall Mauritius and Moon Capital Trading are among the anchor investors, according to a circular uploaded late night on Monday on BSE.
In addition, domestic mutual funds and insurance companies that participated in the anchor book included HDFC Mutual Fund (MF), ICICI Prudential MF, SBI MF, Kotak MF, DSP MF, Sundaram MF, SBI Life Insurance Company, SBI General Insurance Company, Max Life Insurance Company and Kotak Mahindra Life Insurance Company.
The Rs 2,150-crore maiden public issue, with a price band of Rs 30 to Rs 32 per share opened for subscription on November 21 and will conclude on November 23.
This is the first public issue by a public sector enterprise after Life Insurance Corporation’s IPO in May last year.
IREDA would issue up to 40.31 crore fresh shares to mobilise around Rs 1,290 crore at the upper-end of the price band.
Besides, the government of India, currently the sole shareholder, will offer up to 26.88 crore shares in an offer-for-sale (OFS) in a bid to collect Rs 860 crore.