Indian Renewable Energy Development Agency Ltd

Finance

Offer Period :

21st to 11th Nov 2023

Founded in 1987, Indian Renewable Energy Development Agency Limited (IREDA) is a government-owned financial institution promoting and financing renewable energy projects. With a strong commitment to sustainability, IREDA has achieved significant growth, offering comprehensive support in various areas. Read more... As of September 2023, the company employs 175 professionals, including 152 with qualifications in engineering, finance, legal, human resources, and IT.Read less

Indian Renewable Energy Development Agency Ltd IPO Details

IPO Date 21st to 11th Nov 2023 Minimum Investment ₹14720 / 1 Lots
Listing Date 2023-11-29 Maximum Investment ₹191360 / 13 Lots
Face Value ₹10 per share Total Issue Size ₹2150.21 Crores
Price ₹32 to ₹32 per share Fresh Issue ₹1290.13 Crores
Lot Size 1 Lots (460 Shares) Offer For Sale ₹ 860.08
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹ 0    
IPO Date 21st to 11th Nov 2023
Listing Date 2023-11-29
Face Value ₹10 per share
Price ₹32 to ₹32 per share
Lot Size 1 Lots (460 Shares)
Listing At BSE, NSE
Employee Discount ₹0 Crores
Minimum Investment ₹14720 / 1 Lots
Maximum Investment ₹191360 / 13 Lots
Total Issue Size ₹2150.21 Crores
Fresh Issue ₹1290.13 Crores
Offer For Sale
Retail Discount ₹ 0

Tentative Timeline

Important dates for allocation and IPO listing.

21st Nov

IPO Starts

23rd Nov

IPO Ends

28th Nov

Allotment Date

28th Nov

Initiation of Refund

29th Nov

Credit of Shares to Demat Account

29th Nov

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 100 85
Public Group 0 15

Indian Renewable Energy Development Agency Ltd IPO Reservation

QIB Shares Offered 134013150(19.94%)
NII (HNI) Shares Offered 100509864(14.96%)
Retail Shares Offered 234523000(34.9%)
Anchor Investor Shares Offered 201019730(29.92%)
Total Shares Offered 671941184
Total Shares With Anchor Investor 671941184

IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)---
Retail (Max)---
S-HNI (Min)---
S-HNI (Max)---

Indian Renewable Energy Development Agency Ltd IPO Registrar

Link Intime India Pvt Ltd
Phone Number +91 81 0811 4949
Email Id indianrenergy@linkintime.co.in
Our Website www.linkintime.co.in

Indian Renewable Energy Development Agency Ltd IPO Lead Manager

1. IDBI Capital Markets & Securities Ltd

2. BOB Capital Markets Ltd

3. SBI Capital Markets Ltd

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Indian Renewable Energy Development Agency Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed

Strength of Indian Renewable Energy Development Agency Ltd

1. Track record of growth, geared towards high quality assets, diversified asset book and stable profitability.

2. Strategic role in Government of India initiatives in the Renewable Energy sector.

3. Established and trusted brand name operating in a rapidly expanding sector.

4. Digitized process for borrower centricity and operational scalability, with presence across India.

5. Comprehensive data-based credit appraisal process and risk-based pricing, with efficient post-disbursement project monitoring and recovery processes.

6. Access to diversified and cost-effective long-term sources of borrowing with a [judicious approach] towards asset-liability management.

7. Experienced senior management with in-depth sector expertise and professionally qualified employee base.

Risks Involved

1. Its business and financial performance could suffer if the company is unable to effectively manage the quality of its growing asset portfolio and control the level of the company non-performing assets ("NPAs").

2. Volatility in interest rates could adversely affect its business, net interest income and net interest margin, which in turn would adversely affect the company's business, results of operations and financial condition.

3. Its may be unable to secure borrowings on commercially acceptable terms and at competitive rates, which could adversely affect its business, results of operations and financial condition.

4. Projects and schemes for generating electricity and energy through renewable sources like solar, wind, hydro, biomass, waste-to-energy and new and emerging technologies have inherent risks and, to the extent they materialize, could adversely affect its business, results of operations and financial condition.

5. The COVID-19 has had, and a similar pandemic could have, certain adverse effects on its business, operations, cash flows and financial condition.

6. The company credit ratings have been downgraded in the past. Any future downgrade in its credit ratings could adversely affect the company business, results of operations and financial condition.

7. The company operates in a highly competitive environment and increased competition in lending to the RE sector, including to new and emerging technologies, could have a material adverse effect on its business, results of operations and financial condition.

8. The company level of indebtedness and the restrictive covenants in its borrowing agreements that the company have with its lenders could adversely affect its ability to react to changes in the company's business environment, limit its flexibility in managing its business and maintaining the growth of the company loan portfolio, which may in turn have a material adverse effect on its business, results of operations and financial condition.

9. Its business is entirely concentrated in, and dependent on, the Indian RE sector, which in general has many challenges and effective addressing of these risks are key to the growth of the sector. If risks in the sector are not managed effectively, the sector growth will suffer, and its business and operations will in turn will also be adversely affected.

10. The RBI prudential norms are applicable to it and if the level of non-performing assets in the company loan portfolio were to increase, owing to changes to NPA classification norms or otherwise, its business, results of operations and financial condition would be adversely affected.

Why should you invest in

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Financials

Particulars For the financial year ending (in ₹ million)
  2021 2020 2019
Total Assets 30293.39 27652.36 24530.18
Total Liabilities 30293.39 27652.36 24530.18
Total Expenses 2089.12 2131.27 1637.16
Total Revenue 
2658.63 2372.38 2022.79
Profit After Tax 346.38 214.61 244.1
EBITDA 2162.45 1723.13 1517.56
Adjusted EBITDA 0 0 0

Indian Renewable Energy Development Agency Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2023-11-29 544026 IREDA
INE202E01016
₹32 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹32 ₹32
Open ₹50 ₹50
Low ₹49.99 ₹50
High ₹59.99 ₹60
Low ₹49.99 ₹50

Frequently Asked Questions

What is Indian Renewable Energy Development Agency Ltd IPO?

Answer Field

Indian Renewable Energy Development Agency Ltd IPO is a Mainboard IPO of 67,19,41,184 equity shares of a face value of ₹10 aggregating up to ₹2150.21 Crores. The issue is priced at ₹32 to ₹32 per share. The minimum order quantity is 460 Shares. The IPO opens on November 21, 2023, and closes on November 23, 2023. Link Intime India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When Indian Renewable Energy Development Agency Ltd IPO will open?

Answer Field

The Indian Renewable Energy Development Agency Ltd IPO opens on November 21, 2023 and closes on November 23, 2023.

What is the lot size of Indian Renewable Energy Development Agency Ltd?

Answer Field

Indian Renewable Energy Development Agency Ltd lot size is 460 shares, and the minimum amount required is ₹14,720.

How to apply for Indian Renewable Energy Development Agency Ltd IPO?

Answer Field

You can apply in Indian Renewable Energy Development Agency Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Indian Renewable Energy Development Agency Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Indian Renewable Energy Development Agency Ltd IPO will be done on November 28, 2023, and the allotted shares will be credited to your demat account by November 29, 2023.

When is Indian Renewable Energy Development Agency Ltd IPO listing date?

Answer Field

The Indian Renewable Energy Development Agency Ltd listing date is November 29, 2023.

Who is the registrar of Indian Renewable Energy Development Agency Ltd IPO?

Answer Field

The registrar of Indian Renewable Energy Development Agency Ltd IPO is Link Intime India Pvt Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

IDBI Capital Markets & Securities Ltd,BOB Capital Markets Ltd,SBI Capital Markets Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Indian Renewable Energy Development Agency Ltd IPO?

Answer Field

The fresh issue size is ₹1290.13 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Indian Renewable Energy Development Agency Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 460 shares and ₹14,720 amount.

How can I approve the UPI mandate request for Indian Renewable Energy Development Agency Ltd IPO?

Answer Field

To apply for Indian Renewable Energy Development Agency Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Indian Renewable Energy Development Agency Ltd?

Answer Field

The price of each Indian Renewable Energy Development Agency Ltd share will be ranging in between ₹32 to ₹32 per share.

What is the cut-off time for the UPI mandate for Indian Renewable Energy Development Agency Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, November 23, 2023.

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