The Ministry of Finance has initiated a tender process to appoint a Registrar and a Share Transfer Agent (RTA) for the listing and partial disinvestment of the Indian Renewable Energy Development Agency Limited (IREDA). Through an initial public offer (IPO), the government aims to raise funds by issuing fresh equity shares in the domestic market.
IREDA, currently wholly owned by the Government of India and operating under the Ministry of New and Renewable Energy (MNRE), is registered as a Non-Banking Financing Institution by the Reserve Bank of India (RBI). Its primary objective is to provide financial assistance for renewable energy projects in India.
The government has decided to list IREDA’s shares on stock exchanges, involving a partial sale of its stake to raise additional equity capital. The IPO will follow the guidelines set by the Securities and Exchange Board of India (SEBI). As part of the disinvestment plan, the government intends to offer a 25 percent stake in IREDA.
The tender outlines key timelines for the process. A pre-bid meeting is scheduled for May 22, with the bid submission deadline set for June 9. The bids will be opened on June 12. The selected RTA will be engaged for one year, with the possibility of renewal for an additional period, subject to mutually agreed terms and conditions between IREDA and the appointed RTA.
As part of the bid process, the government plans to establish a tripartite agreement between IREDA, the RTA, and the depositories such as NSCL and CDSL identified by IREDA. The tender requires the Registrar to be a Category-I SEBI registered entity with a valid SEBI certification and a commendable track record.
The government’s move to list IREDA and partially disinvest reflects its strategy to mobilize capital and promote wider participation in the renewable energy sector.
For more details view the tender document: