Indian Renewable Energy Development Agency files IPO papers

Indian Renewable Energy Development Agency (IREDA) filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds via an initial public offering. The IPO of 67.19 crore equity shares will comprise a fresh issue of 40.31 crore equity shares by the company and an offer-for-sale of 26.88 crore shares by the government.