IPO Details

Bidding Dates

20 Nov '23 - 22 Nov '23

Minimum Investment

₹14,720 / 1 Lots ( 460 Shares )

Price Range

₹30 - ₹32

Maximum Investment

₹191,360 / 13 Lots ( 5980 Shares )

Retail Discount

Not Applicable

Issue Size

₹2,150.21 Cr

Investor category and sub category

Qualified Institutional Buyers   |   Non-Institutional Investors  |   Retail Individual Investors  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Nov 20, 2023

IPO Closing Date

Nov 22, 2023

Basis of Allotment

Nov 28, 2023

Initiation of Refunds

Nov 29, 2023

Credit of Shares to Demat Account

Nov 30, 2023

IPO Listing Date

Dec 3, 2023

UPI Mandate Expiry Date

Nov 22, 2023

IREDA IPO Subscription Details

DateQIBNIIRetailEMPTotal

Day 1Nov 20, 2023

1.34x 2.74x 2.01x 2.13x 1.98x

Day 2Nov 21, 2023

2.69x 7.76x 4.32x 5.01x 4.59x

Day 3Nov 22, 2023

104.57x 24.16x 7.73x 9.80x 38.80x

Indian Renewable Energy Development Agency (IREDA) IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institutions Buyers 104.57
Non-Institutional Buyers 24.16
Retail Investors 7.73
Employees 9.80
Total 38.80

About Company

Indian Renewable Energy Development Agency Limited is a financial institution owned by the Government of India and managed by the Ministry of New and Renewable Energy (MNRE). They have over 36 years of experience promoting, developing, and extending financial help for new and Renewable Energy (RE) and Energy Efficiency and Conservation (EEC) projects.

They offer a wide range of financial services, from the early stages of project development to post-commissioning support. Their financial assistance covers various renewable energy sectors, including wind, solar, biomass, hydropower, and more. They also provide financial solutions for emerging technologies like green hydrogen, energy storage, and fuel cells. 

Along with traditional funding, they offer various financial products and schemes. They have actively contributed to the government's initiatives to promote renewable energy in India and have implemented key schemes and programs in this field.

India committed to achieving 500 GW of non-fossil energy and fulfilling 50% of its energy needs through renewables by 2030 at COP26. The Indian government actively supports renewable energy growth and aims to enhance power distribution networks. The renewable energy sector's potential for expansion may benefit the company in the long run.

Indian Renewable Energy Development Agency Details

Indian Renewable Energy Development Agency IPO Date

The IPO of Zaggle Prepaid Ocean Services Limited is scheduled to commence its subscription period on November 21, 2023, and will run until November 23, 2023.

Indian Renewable Energy Development Agency IPO Price Band

Indian Renewable Energy Development Agency is a fresh issue IPO of ₹1,290.13 crore and also has an offer for sale of ₹860.08 crore shares. It is a book-building issue. The price range is set to ₹30 to ₹32 per share.

Indian Renewable Energy Development Agency IPO Lot Size

The lot size for Indian Renewable Energy Development Agency’s IPO is 460 shares, with a minimum investment of ₹14,720.

Indian Renewable Energy Development Agency IPO Objectives 

The objectives of the Indian Renewable Energy Development Agency are listed below:

  • The primary objective of the offer is to augment the company's capital base, ensure readiness for future capital requirements, and facilitate onward lending activities.
  • Leverage listing benefits to enhance brand image and create a public market for equity shares in India.

How To Check the Allotment Status of the Indian Renewable Energy Development Agency?

Steps to check IPO allotment status on Angel One’s app:

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  • Select the individual IPO you applied for and check the allotment status.
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Contact Details of Indian Renewable Energy Development Agency

Registered office: India Habitat Centre, East Court, Core 4A, 1st Floor, Lodhi Road, New Delhi–110003, India.

Contact Person: Ekta Madan (Company Secretary and Compliance Officer)

Phone: +91 11 24682206

E-mail:equityinvestor2023@ireda.in

Company Financials

Particulars ( ₹ Million ) Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Income 34,830.44 28,741.55 26,577.44
Sales Growth (%) 21.18% 8.14% NA
Profit After Tax (PAT) 8,646.28 6,335.28 3,463.81
Cash & Cash Equivalents 1,385.31 1,311.75 2,210.18
Return on Net Worth (%) 20.87% 19.16% 11.17%
Earnings Per Share 3.78 8.03 4.41
Total Borrowings 4,01,652.80 2,76,130.72 2,40,000.04

Know before investing

Strengths

3
  1. Experiencing robust growth, the entity's Term Loans Outstanding surged from ₹278.54 million on March 31, 2021, to ₹470.76 million by March 31, 2023, boasting a notable 30.00% CAGR. As of June 30, 2023, the outstanding loans reached ₹472.07 million. The organisation prioritises stability through a diversified asset book across sectors and geographies in real estate financing.

  2. Operating as a wholly owned Government of India (GoI) enterprise under MNRE's administration, the organisation has significantly contributed to developing and implementing key policies and schemes for structural reforms in the Renewable Energy (RE) sector. Its strategic role involves actively shaping and executing initiatives to advance the RE landscape.

  3. A respected brand in the rapidly growing sector, this NBFC holds the top position as India's largest pure-play green financing entity. Positioned to leverage India's ambitious energy transition, the recent announcement of a 500 GW non-fossil fuel capacity by 2030 and net-zero emissions by 2070 solidifies its strategic advantage in the market

Risks

4
  1. Fluctuations in interest rates pose a potential risk to the company, impacting both net interest income and net interest margin. Such variability could adversely affect the business, influencing overall financial performance and the company's financial health.

  2. The company faces the risk of being unable to obtain borrowings on favourable terms and competitive rates, potentially impacting its business, financial condition, and operational results.

  3. Implementing initiatives to produce electricity and energy from renewable sources, including solar, wind, hydro, biomass, waste-to-energy, and emerging technologies, carries inherent risks. The realisation of these risks, if they occur, can negatively impact the entity's business, operational outcomes, and financial status.

  4. Past credit rating downgrades, like the one by India Ratings on September 1, 2020, from "AAA/Negative" to "IND AA+'/Stable," have adversely impacted the company. Future downgrades may also pose risks to its business and financial condition.

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Indian Renewable Energy Development Agency (IREDA) IPO FAQs

What is Indian Renewable Energy Development Agency Limited's IPO?

Indian Renewable Energy Development Agency is a fresh issue of ₹1,290.13 Crore and an offer for sale of ₹860.08 Crore. It is a book-building issue. 

When will Indian Renewable Energy Development Agency's IPO be allotted?

The Indian Renewable Energy Development Agency’s share will be allotted on November 29, 2023.

When will Indian Renewable Energy Development Agency's IPO open for subscription?

The IPO subscription window for Indian Renewable Energy Development Agency will open on November 21, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot, which is a size of 460 shares, with a sum of ₹14,720.

When will Indian Renewable Energy Development Agency list on exchanges?

Indian Renewable Energy Development Agency will be listed on BSE and NSE. The stock will be listed on December 4, 2023.

What would be the listing gains on the Indian Renewable Energy Development Agency?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for Indian Renewable Energy Development Agency, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you. 

How do I approve the UPI mandate request for Indian Renewable Energy Development Agency Limited's IPO?

 You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Indian Renewable Energy Development Agency Limited using one PAN?

You can submit only one application using your PAN card