Indian Renewable Energy Development Agency IPO Details

Indian Renewable Energy Development Agency IPO Details ( Indian Renewable Energy Development Agency Limited IPO Review )

(21 Nov 2023 – 23 Nov 2023)

Established in March 1987, the Indian Renewable Energy Development Agency Limited (IREDA) is a government-owned company. It holds the status of a Mini Ratna (Category – I) government enterprise and falls under the administrative control of the Ministry of New and Renewable Energy (MNRE). In the fiscal year 2021-22, IREDA reached a milestone by approving loans worth approximately Rs. 23,921.06 crores and disbursing loans totaling around Rs. 16,070.82 crores.

IREDA, with over 36 years of experience, serves as a financial institution dedicated to promoting, developing, and providing financial assistance for new and renewable energy projects. Additionally, it supports energy efficiency and conservation initiatives. The company offers a wide array of financial products and services, covering everything from project initiation to post-commissioning, for renewable energy projects and associated activities like equipment manufacturing and transmission.

With a commitment to fostering a greener and more sustainable future, IREDA strives to be a dependable partner, ensuring that its clients receive optimal support and guidance throughout their projects. As of June 30, 2023, the company boasts a diverse portfolio of outstanding Term Loans, totaling ₹ 472,066.63 million.

Indian Renewable Energy Development Agency Limited IPO Competitive Strength

• Track record of growth, geared towards high quality assets and diversified asset book and stable profitability
• Strategic role in Government of India initiatives in the Renewable Energy sector
• Established and trusted brand name operating in a rapidly expanding sector
• Digitized process for borrower centricity and operational scalability, with presence across India
• 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 with a judicious approach towards asset-liability management
• Experienced senior management with in-depth sector expertise and professionally qualified employee base

Indian Renewable Energy Development Agency Limited IPO Financials Performance ( Results )

Indian Renewable Energy Development Agency Limited Financial Information (Restated Standalone)

All Amount in ₹ Crores

Period Ended	Total Assets	Total Revenue	PAT	EPS (₹)	Net Worth	NAV (₹)	Reserves	Borrowing
31-Mar-21	30,293.39	2,657.74	346.38	4.41	2,995.60	12.56	1,386.12	24,000.00
31-Mar-22	36,708.41	2,874.16	633.53	8.03	5,268.11	15.33	1,776.05	27,613.07
31-Mar-23	50,446.98	3,483.04	864.63	3.78	5,935.17	15.43	2,310.96	40,165.23
30-Sep-23	51,208.36	2,320.46	579.32	2.54	6,580.61	9.26	2,550.36	39,850.19

Objective of Indian Renewable Energy Development Agency IPO Issue

The Offer includes two parts: the Fresh Issue and the Offer for Sale. The company won’t get any money from the Offer for Sale. Instead, the Promoter Selling Shareholder will get the proceeds, and it won’t be counted as part of the Net Proceeds. The company plans to use the money it gets for two main things:

1. Building up the capital to meet future needs and lend money.
2. Getting advantages from listing the Equity Shares on the Stock Exchanges. This includes improving the company’s image with current and possible customers and making a public market for the Equity Shares in India.

Indian Renewable Energy Development Agency Limited IPO Basic Details

IPO Date	Nov 21, 2023 to Nov 23, 2023
Listing Date	Monday, December 4, 2023
Face Value	₹10 per share
Price	₹30 to ₹32 per share
Lot Size	460 Shares
Issue Size	671,941,177 shares of ₹10 (aggregating up to ₹2,150.21 Cr)
Fresh Issue	403,164,706 shares of ₹10 (aggregating up to ₹1,290.13 Cr)
Offer for Sale	268,776,471 shares of ₹10 (aggregating up to ₹860.08 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE, BSE
Share holding pre issue	2,284,600,000
Company Promoters	The President of India (The Ministry of New & Renewable Energy, Government of India)

Indian Renewable Energy Development Agency IPO Reservation

QIB Shares Offered	50% of the Net Issue
NII (HNI) Shares Offered	15% of the Net Issue
Retail Shares Offered	35% of the Net Issue

Indian Renewable Energy Development Agency IPO Timetable

Indian Renewable Energy Development Agency IPO will open on November 21, 2023 and close on November 23, 2023. You can join Indian Renewable Energy Development Agency IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.

Event	Date
Opening Date	21 November 2023 (Tuesday)
Closing Date	23 November 2023 (Thursday)
Basis of Allotment	29 November 2023 (Wednesday)
Initiation of Refunds	30 November 2023 (Thursday)
Credit of Shares to Demat	1 December 2023 (Friday)
Listing Date	4 December 2023 (Monday)
Deadline for UPI mandate confirmation	5 PM on 23 November 2023

Indian Renewable Energy Development Agency IPO Lot Size

For retail investors in Indian Renewable Energy Development Agency IPO, 460 shares will come in 1 lot or the minimum investment will be ₹14,720. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹000,000.

Application	Lots	Shares	Amount
Retail (Min)	1	460	₹14,720
Retail (Max)	13	5980	₹191,360
S-HNI (Min)	14	6440	₹206,080
S-HNI (Max)	67	30,820	₹986,240
B-HNI (Min)	68	31,820	₹1,000,960

Indian Renewable Energy Development Agency IPO Promoter Holding

The company’s promoters include the President of India, Acting Through the Ministry of New and Renewable Energy, Government of India.

Pre Issue Share Holding	100%
Post Issue Share Holding

Indian Renewable Energy Development Agency Ltd IPO Key Performance Indicator ( Valuation )

In the table given below, all the figures have been told according to the latest financial year.

KPI	Values
Earning Per Share (EPS)	₹3.78 per Equity Share
Net Asset Value (NAV)	₹25.98 per Equity Share
P/E Ratio (P/E) (x)	8.47
Return on Net Worth (RoNW) (%)	15.44
Return on equity (ROE) (%)	15.44
Debt/Equity Ratio	6.77

Indian Renewable Energy Development Agency Ltd Peer Comparison

Company Name	Consolidated/ Standalone	Face Value	EPS (₹)	P/E Ratio	RoNW (%)	NAV (₹)	P/BV Ratio
Indian Renewable Energy Development Agency Limited	Consolidated	10.00	3.78	8.47	15.43	25.98
Peer Group
REC Limited	Consolidated	10.00	42.28	7.71	20.41	220.72	1.48
Power Finance Corporation	Consolidated	10.00	60.19	4.79	20.34	424.16	0.68

Indian Renewable Energy Development Agency IPO GMP Live Update, Kostak Rate day by day

Date	GMP	Kostak	Subject to
Today	₹6	–	–
20 November 2023	₹6	–	–
19 November 2023	₹8	–	–
18 November 2023	₹8	–	–
17 November 2023	₹8	–	–
16 November 2023	₹4	–	–
15 November 2023	₹4	–	–

Indian Renewable Energy Development Agency IPO Detail Video:

Indian Renewable Energy Development Agency IPO Subscription Status (Bidding Detail)

The Indian Renewable Energy Development Agency IPO on November 23, 2023 at 7:29:00 PM was subscribed 38.80 times, with the retail category being subscribed 7.73 times, the NII (Non-Institutional Investor) category being subscribed 24.16 times, QIB (Qualified-Institutional Buyers) category being subscribed 104.57 times.

Category	Subscription
QIB	104.57x
NII	24.16x
Retail	7.73x
Employee	9.80x
Total	38.80x

Indian Renewable Energy Development Agency IPO Prospectus

Indian Renewable Energy Development Agency IPO DRHP	Download
Indian Renewable Energy Development Agency IPO RHP	Download
Indian Renewable Energy Development Agency IPO Anchor Investors Details PDF	Download

Indian Renewable Energy Development Agency IPO Rating

Our Rating

3.0/5.0

Indian Renewable Energy Development Agency Company Contact Information

Indian Renewable Energy Development Agency Limited

Registered Office: India Habitat Centre, East Court, Core 4A, 1st Floor,
Lodhi Road, New Delhi – 110 003, India
Telephone: +91 11 2468 2214
Corporate Office: 3rd Floor, August Kranti Bhavan, Bhikaji Cama Place,
New Delhi – 110 066, India
Telephone: +91 11 2671 7400 / 2671 7412
Contact Person: Ekta Madan, Company Secretary and Compliance Officer;
Telephone: +91 11 2468 2206 / 2468 2219
E-mail: equityinvestor2023@ireda.in
Website: www.ireda.in
Corporate Identity Number: U65100DL1987GOI027265
Our Promoter: the President of India, Acting Through the Ministry of New and Renewable Energy, Government of India

Indian Renewable Energy Development Agency IPO Registrar

Link Intime India Private Limited

Registered Office: C 101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli West,
Mumbai 400 083, Maharashtra, India
Telephone: +91 81 0811 4949
E-mail: indianrenergy@linkintime.co.in
Investor Grievance E-mail: indianrenergy@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR000004058

Indian Renewable Energy Development Agency IPO Lead Manager

IDBI Capital Markets & Securities Limited

Registered Office: 6th Floor, IDBI Tower WTC Comple Cuffe Parade
Mumbai – 400 005, Maharashtra, India
Telephone: +91 22 2217 1953
E-mail: ireda.ipo@idbicapital.com
Investor Grievance E-mail: redressal@idbicapital.com
Website: www.idbicapital.com
Contact Person: Indrajit Bhagat/ Suhas Satardekar
SEBI Registration Number: INM000010866

BOB Capital Markets Limited

Registered Office: 1704, B Wing, 17th Floor Parinee Crescenzo,
Plot No.C- 38/39, G Block Bandra Kurla Complex, Bandra East
Mumbai – 400 051, Maharashtra, India
Telephone: +91 22 6138 9353
E-mail: ireda.ipo@bobcaps.in
Investor Grievance E-mail: investorgrievance@bobcaps.in
Website: www.bobcaps.in
Contact Person: Nivedika Chavan
SEBI Registration Number: INM000009926

SBI Capital Markets Limited

Registered Office: 1501, 15th floor, A&B Wing Parinee Crescenzo, G Block,
Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India
Telephone: +91 22 4006 9807
E-mail: ireda.ipo@sbicaps.com
Investor grievance e-mail: investor.relations@sbicaps.com
Website: www.sbicaps.com
Contact Person: Vaibhav Shah
SEBI Registration Number: INM000003531

Indian Renewable Energy Development Agency  IPO FAQs