J.Sagar Associates advised YES Securities (India) Limited, Elara Capital (India) Private Limited, IDBI Capital Markets & Securities Limited and SBI Capital Markets Limited (“BRLMs”) in relation to the proposed initial public offering of Indian Renewable Energy Development Agency Limited (“IREDA”). IREDA has filed a draft red herring prospectus with the Securities and Exchange Board of India for a fresh issue of up to 139,000,000 equity shares, including a reservation of up to 695,000 equity shares in favour of employees of IREDA.

IREDA is a domestic financial institution with more than 30 years of experience in the Indian renewable energy sector which provides financial assistance to renewable energy projects, companies and manufacturers in India for power generation, equipment supply and fuel source projects including wind power, solar power, hydro power, biomass, co-generation and waste to energy as well as energy efficiency and conservation. IREDA’s financial products and services includes various fund-based financial products including long-term and short-term project and manufacturing loans, take out financing, bridge loans and bill discounting, and non-fund-based assistance, like performance guarantees, letters of comfort, letters of undertaking and refinancing schemes.

JSA Team comprised Partners Vikram Raghani and Arka Mookerjee; Principal Associate Pracheta Bhattacharya; Associates Krupa Brahmbhatt, Ananth Balaji, Kinjal Shah, Kairav Parikh and Sourav Modi.