Indian Renewable Energy Development Agency Limited is a public limited government company. IREDA, the Mini Ratna (Category-I) status, is a wholly owned government enterprise under the administrative control of the Ministry of New and Renewable Energy (“MNRE”).
IREDA is registered with the RBI as a Systemically Important Non-Deposit-taking NonBanking Finance Company (“NBFCND- SI”), with Infrastructure Finance Company (“IFC”) status.
IREDA is a financial institution with over 36 years of experience in the business of promoting, developing and extending financial assistance for new and renewable energy (“RE”) projects, and energy efficiency and conservation (“EEC”) projects. They provide a comprehensive range of financial products and related services, from project conceptua-lisation to post-commissioning, for RE projects and other value chain activities.
They have financed projects across multiple RE sectors such as solar power, wind power, hydro power, transmission, biomass including bagasse and industrial co-generation, waste-to-energy, ethanol, compressed biogas, hybrid RE, EEC and green-mobility.
As of June 30, 2023, IREDA had a diversified portfolio of Term Loans Outstanding, amounting to ₹47,206.66 crore.
Indian Renewable Energy Development Agency IPO – Details
| IPO Opening Date | 21 November 2023 |
| IPO Closing Date | 23 November 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 67,19,41,177 Shares Worth ₹2150.21 Crore Fresh Issue: 40,31,64,706 Shares Worth ₹1290.13 Crore Offer For Sale: 26,87,76,471 Shares Worth ₹860.08 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹30 – ₹32 |
| Market Lot | 460 Shares |
| Min Order | 460 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Indian Renewable Energy Development Agency IPO – Date Schedule
| IPO Open Date | 21 November 2023 |
| IPO Close Date | 23 November 2023 |
| Basis of Allotment Date | 28 November 2023 |
| Initiation of Refund | 28 November 2023 |
| Credit of Shares to Demat Account | 29 November 2023 |
| IPO Listing Date | 01 December 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on 23 November 2023 |
Indian Renewable Energy Development Agency IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 460 | 14,720 |
| Retail (Max) | 13 | 5,980 | 1,91,360 |
| S-HNI (Min) | 14 | 6,440 | 2,06,080 |
| S-HNI (Max) | 67 | 30,820 | 9,86,240 |
| B-HNI (Min) | 68 | 31,280 | 10,00,960 |
Competitive Strengths
- Track record of growth, geared towards high quality assets, diversified asset book and stable profitability.
- Strategic role in Government initiatives in the Renewable Energy sector.
- Established and trusted brand name operating in expanding sector.
- Digitized process for borrower centricity and operational scalability.
- Comprehensive data-based credit appraisal process and risk-based pricing, with efficient post-disbursement, project monitoring and recovery processes.
- Access to diversified and cost-effective long-term sources of borrowing.
Company Promoters
- The President of India
- Ministry of New and Renewable Energy
- Government of India
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 2657.74 | 2088.22 | 346.38 | 24,000.00 |
| 31 March 2022 | 2874.15 | 2040.31 | 633.52 | 27,613.07 |
| 31 March 2023 | 3483.04 | 2343.79 | 864.62 | 40,165.28 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 8.47 |
| Market Cap (₹ Cr.) | 8600.85 |
| ROE | 15.44% |
| Debt/Equity | 6.77 |
| EPS (Rs) | 3.78 |
| RoNW | 15.44% |
Object Of The Issue
- Augmenting the capital base to meet future capital requirements and onwardlending.
- The Company expects to receive the benefits of listing the Equity Shares on the Stock Exchanges, including enhancing the brand image among existing and potential customers and creating a public market for the Equity Shares in India.
Indian Renewable Energy Development Agency IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | REC Limited | 5.81 |
| 2 | 10 | Power Finance Corporation | 4.52 |
Indian Renewable Energy Development Agency IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 75.00% |
Indian Renewable Energy Development Agency IPO Prospectus
- Indian Renewable Energy Development Agency IPO DRHP
- Indian Renewable Energy Development Agency IPO RHP
Company Contact Information
| Indian Renewable Energy Development Agency Limited India Habitat Centre East Court, Core 4A, 1stFloor, Lodhi Road, New Delhi–110003 Phone: +91 11 24682206 Email: equityinvestor2023@ireda.in Website: https://www.ireda.in/ |
Indian Renewable Energy Development Agency IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: indianrenergy@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
Indian Renewable Energy Development Agency IPO Lead Manager(s)
| 1. IDBI Capital Markets & Securities Limited 2. BOB Capital Markets Limited 3. SBI Capital Markets Limited |
Indian Renewable Energy Development Agency IPO FAQs
| What is Indian Renewable Energy Development Agency IPO? Indian Renewable Energy Development Agency IPO is a main-board IPO. The issue is priced at ₹30 to ₹32 per equity share. The IPO is to be listed on BSE & NSE. |
| When Indian Renewable Energy Development Agency IPO will open? The IPO is to open on 21 November 2023 for QIB, NII, and Retail Investors. |
| What is Indian Renewable Energy Development Agency IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Indian Renewable Energy Development Agency IPO? You can apply Indian Renewable Energy Development Agency IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Indian Renewable Energy Development Agency IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Indian Renewable Energy Development Agency”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Indian Renewable Energy Development Agency IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Indian Renewable Energy Development Agency”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Indian Renewable Energy Development Agency IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Indian Renewable Energy Development Agency”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Indian Renewable Energy Development Agency IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Indian Renewable Energy Development Agency”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Indian Renewable Energy Development Agency IPO Size? Indian Renewable Energy Development Agency IPO size is ₹2150.21 Crore. |
| What is Indian Renewable Energy Development Agency IPO Price Band? Indian Renewable Energy Development Agency IPO Price Band is ₹30 to ₹32. |
| What is Indian Renewable Energy Development Agency IPO Minimum and Maximum Lot Size? The minimum bid is 460 Shares with ₹14,720 amount while the maximum bid is 5,980 Shares with ₹1,91,360. |
| What is the Indian Renewable Energy Development Agency IPO Allotment Date? Indian Renewable Energy Development Agency IPO allotment date is 28 November 2023. |
| What is the Indian Renewable Energy Development Agency IPO Listing Date? Indian Renewable Energy Development Agency IPO listing date is 01 December 2023. The IPO is to list on BSE and NSE. |
