IREDA Raises ₹20.06 Billion Via QIP; LIC Picks Up Half The IssueI

Indian Renewable Energy Development Agency Ltd. said Wednesday it raised ₹20.06 billion through a qualified institutional placement that closed Tuesday.

The company issued around 121.47 million shares at ₹165.14 apiece, including a premium of ₹155.14 per share. The premium factored in a 5% discount, or ₹8.69, to the floor price.

Life Insurance Corp. of India was allotted 50% of the shares. Other key investors included Societe Generale – ODI (9.0%), Morgan Stanley Asia (Singapore) PTE. – ODI (9.1%), and Vikasa India EIF I Fund (5.1%).