IREDA IPO Details ( IREDA 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.
IREDA 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
IREDA Limited IPO Financials Performance ( Results )
IREDA 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 IREDA 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:
- Building up the capital to meet future needs and lend money.
- 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.
IREDA 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) |
IREDA 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 |
IREDA IPO Timetable
IREDA IPO will open on November 21, 2023 and close on November 23, 2023. You can join IREDA 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 |
IREDA IPO Lot Size
For retail investors in IREDA 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 |
IREDA 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 |
IREDA 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 |
IREDA 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 |
IREDA 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 | – | – |
IREDA IPO Detail Video:
IREDA 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 |
IREDA IPO Prospectus
IREDA IPO Rating
| Our Rating | 3.0/5.0 |
IREDA 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
IREDA 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
IREDA 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
IREDA IPO FAQs
What is the lot size of IREDA IPO?
The total size of IREDA IPO is ₹2,150.21 crores out of which ₹1,290.13 crores is fresh issue and ₹860.08 crores is offer for sale (OFS).
When will IREDA IPO start?
IREDA IPO will open from 21 November 2023 and IPO will close on 23 November 2023.
What is the open date of IREDA IPO?
IREDA IPO will open date from 21 November 2023.
What is the last date ( close date ) of IREDA IPO?
IREDA IPO will close from 23 November 2023.
What is the price band of IREDA IPO?
IREDA IPO price band is ₹30 to ₹32. ( Upper Price Band: ₹32, Lower Price Band: ₹30 )
What is the minimum amount required to apply for IREDA IPO?
The minimum investment for retailers to apply for IREDA IPO is ₹14,720 and the maximum investment is ₹191,360.
What is going on gray market premium of IREDA IPO?
View gray market premium of IREDA IPO by Clicking Here
How much is the GMP of IREDA IPO?
Watch IREDA IPO GMP Today: Click Here
What is the allotment date of IREDA IPO?
The allotment date of IREDA IPO is 29 November 2023.
How to check allotment status in IREDA IPO?
To check the allotment status of IREDA IPO, first of all go to the registrar website by clicking here, select your bad IREDA IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of IREDA IPO?
The listing date of IREDA IPO is 4 December 2023.
How much will be the listing gain in IREDA IPO?
View listing gain of IREDA IPO by Clicking Here
How much time IREDA IPO is subscribed?
Total 38.80 times subscribed in Indian Renewable Energy Development Agency IPO out of which 7.73 times subscription was done in retail quota, 24.16 times subscription in NII quota and 104.57 times subscription in QIB quota.
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