'Our successful listing does justice to RE growth in India'

Ireda debuted on Dalal Street last week. Even as the RE sector has grown by leaps, the loan book of Ireda has remained restricted during the last decade. P K DAS, CMD, Ireda talks about how the company is now trying to widen scope to new and emerging green sectors, and use innovative financing tools to cater to large projects, in an interview with Shreya Jai in New Delhi. Edited excerpts:

- P K DAS

The third attempt at an IPO proved lucky for the Ireda. What was different this time?

Our team was confident of our plan. This is not just the Ireda's IPO. It is the success of the ministry of new and renewable energy and of the renewable energy (RE) industry. Over the past three-four years, we have tried to build a fair amount of capabilities, especially with regard to quality corporate governance and RE development. After the IPO of the Life Insurance Corporation, we are the first public sector undertaking (PSU) to go for listing. Our success will put a stamp on the perception of PSUs in the pipeline for an IPO, follow-on public offering, etc. We wanted to remove the misconceptions around RE and the Ireda. We have been  working silently and efficiently for the past 36 years but were not known beyond our lenders and borrowers.

With the successful listing, we would be getting a much better and wider brand name and it will be true justice to the development of RE in the country.

In five years, how have your loan books grown and which sectors are part of your portfolio?