Indian Renewable Energy Development Agency files IPO papers with Sebi

State-owned renewable energy financing body Indian Renewable Energy Development Agency Ltd filed papers for an initial public offering (IPO) with market regulator Sebi. In the last one year, after LIC, it is the second government-owned company and the first non-banking financial company in several years to file for an IPO.

IREDA, a mini-ratna public sector utility (PSU), provides financing to green energy projects. Under the aegis of the Ministry of New and Renewable Energy, IREDA started with financing solar and wind energy projects but has now branched to other green sectors too.