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Question

Which of the following bankers is one of the lead bankers for the transaction involved in the initial public offer (IPO) of the Indian Renewable Energy Development Agency (IREDA)? 

A IDBI Capital Correct Answer Incorrect Answer
B BOB Capital Correct Answer Incorrect Answer
C SBI Capital Correct Answer Incorrect Answer
D HDFC Capital Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

The government has appointed IDBI Capital, BOB Capital, and SBI Capital to manage the initial public offer (IPO) of the Indian Renewable Energy Development Agency (IREDA). IDBI Capital is the lead banker for the transaction Separately, Saraf and Partners have been appointed as the legal adviser for the IPO. The IPO, which is expected in FY24, will likely consist of a 10% stake sale by the government and 15% fresh equity issuance by the renewable energy project financier to fund its business growth.

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