Indian Renewable Energy Development Agency (IREDA) is planning to raise up to Rs 1,290 crore through a fresh issue of shares to augment its capital base. In addition to that, the Government of India is offering to sell shares worth Rs 860 crore. The IPO will result in the government’s stake decreasing from 100% to 75%. With a loan book size of Rs 47,515 crore, IREDA is currently the largest financer of renewable energy in India. The government’s focus on green energy and the improving asset quality of IREDA make it an attractive option for long-term investors.