Power Sector

According to the statement, the acquirers plan to subscribe for class B compulsorily convertible preference shares.

IREDA is a multi-bagger company, gaining 177% since its IPO at a listing price of ₹50 per share.

Presently, the business has a total installed generation capacity of 7.2 GW, including 1.6 GW allocated to wind energy.

The company said that the Project will be commissioned within 18 months of signing the PPA (power purchase agreement).

Last week, the business was awarded a wind-solar power project from Gujarat Urja Vikas Nigam Limited.

The OFS will be available for subscription to institutional investors on Friday, non-retail investors on Thursday, and retail investors on March 11, according to a stock market filing.

At 14:07 am, BHEL was up 13.5% over the previous close on the NSE, trading at ₹267.70.

The company has initially estimated that it will raise $409 million at a coupon of about 7.1250%.

Analysts of IIFL Capital Services like NTPC and Torrent the most, and would look to accumulate Powergrid, Tata Power, CESC, etc., on dips.

The project, under the Domestic Content Requirement (DCR) mode, is set for commissioning by July 2024.