Indian Renewable Energy Development Agency Limited IPO

Mainboard

Finance - NBFC

Listed On: Nov 29, 2023 at ₹ 50.0(NSE)

Exp. Premium: 11-12 (34.38%)

₹ 14720 /460 Shares

*Expected Premium provided in this app is derived from market rumors. It is not a guaranteed indicator of the actual listing price and should be interpreted with caution.

Price Summary

Last Closing

185.89 (480.91%)

52 Week High

310.00

52 Week Low

50.00

Last Update

22-Nov-2024 3:30 PM

Indian Renewable Energy Development Agency Limited IPO Details

21 Nov, 2023

Open Date

23 Nov, 2023

Close Date

25 Nov, 2023

Allotment Date

29 Nov, 2023

Listing Date

Issue Price

₹30-32 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

50.0(NSE)

Listing Date

2023-11-29

Market Lot

Retail : 460 Shares (₹14,720/-)
sHNI : 6,440 Shares (₹2,06,080/-)
bHNI : 31,280 Shares (₹10,00,960/-)

Lead Manager

Bob Capital Markets Limited
SBI Capital Markets Limited

Issue Size

Total ₹2150.21 Cr :
#Fresh Issue : 403,164,706 shares(aggregating up to ₹1,290.13 Cr) +
#OFS : 268,776,471 shares of ₹10(aggregating up to ₹860.08 Cr)

Retail Portion

35% (Number of Retail Applications: 5,09,833 Approx),
(Number of S-HNI Applications : 5,202 Approx),
(Number of B-HNI Applications : 10,405 Approx)

Subscription

38.80 times

IPO Docs

DRHP RHP ANCHOR

Indian Renewable Energy Development Agency Limited IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Employee	Total
Shares Offered / Reserved	134,013,152	100,509,864 67,006,576 33,503,288	234,523,015	1,875,420	470,921,451
Day 1 - 21-11-23 05:00 PM	1.34 x	2.72 2.75 x 2.66 x	1.96 x	2.10 x	1.95 x
Day 2 - 22-11-23 05:00 PM	2.69 x	7.74 7.96 x 7.30 x	4.26 x	4.99 x	4.56 x
Day 3 - 23-11-23 05:00 PM	104.57 x	24.16 26.99 x 18.50 x	7.73 x	9.80 x	38.80 x

Total No. of Applications: 28,58,909 (Approx)

Retail Subscription on the basis of Applications: 5.61 times

Indian Renewable Energy Development Agency Limited Valuations

Earnings Per Share (EPS)

₹3.78/-

P/E Ratio

8.47

RoNW

15.44%

Net Asset Value (NAV) - As on 31.03.23

₹25.98

Indian Renewable Energy Development Agency Limited Company Financials All values are in ₹ Cr.

	31-Mar-23	31-Mar-22	31-Mar-21
Assets	50,446.98	36,708.41	30,293.39
Revenue	3,483.04	2,874.16	2,657.74
Profit After Tax	864.63	633.53	346.38

About The Company

Indian Renewable Energy Development Agency Limited is a public limited government company. IREDA is a Mini Ratna (Category - I) government enterprise. It is administratively controlled by the Ministry of New and Renewable Energy (MNRE). In FY 2021-22, IREDA achieved the highest-ever loan sanctions of around Rs. 23921.06 crores and loan disbursements of around Rs. 16070.82 crores.

IRDEA is an experienced financial institution that has been actively promoting, developing, and extending financial assistance for new and renewable energy projects, as well as energy efficiency and conservation projects for over 36 years. The company offers a comprehensive range of financial products and related services, from project conceptualization to post-commissioning, for RE projects and other value chain activities such as equipment manufacturing and transmission. IRDEA is committed to facilitating the transition towards a greener and more sustainable future, and as a reliable partner, the company ensure that its clients receive the best possible support and guidance throughout their projects.

As of June 30, 2023, the company has a diversified portfolio of Term Loans Outstanding, amounting to ₹ 472,066.63 million.

	P/B Ratio	P/E Ratio	RoNW	Net Worth
IREDA	1.11	8.47	15.44%	3,483
REC Limited	1.38	6.90	20.4%	39,486
Power Finance Corporation	1.10	5.71	20.3%	77,568

Indian Renewable Energy Development Agency Limited - Promoter(s)

Pre Issue Share Holding: 100%

Post Issue Share Holding: 75%

Company Promoter(s)

The President of India acting through The Ministry of New & Renewable Energy, Government of India

Indian Renewable Energy Development Agency Limited IPO - Issue Objectives

The Offer comprises the Fresh Issue and the Offer for Sale. The company will not receive any proceeds from the Offer for Sale. Further, the proceeds of the Offer for Sale shall be received by the Promoter Selling Shareholder and will not form part of the Net Proceeds. The company intends to utilize the net proceeds for the following objects:-
(i)Augmenting the capital base to meet future capital requirements and onwardlending.
(ii)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 Limited IPO - Anchor Investors

Indian Renewable Energy Development Agency raises Rs 643 crore from anchor investors ahead of IPO.

Marquee names participated in the anchor book included Goldman Sachs, Integrated Core Strategies (Asia), Societe Generale, GAM Star Emerging Equity, BNP Paribas Arbitrage, Moon Capital Trading, and Copthall Mauritius.

Domestic mutual funds and insurance firms that invested in the company through the anchor book include SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon Life India, Kotak Mutual Fund, Aditya Birla Sun Life Trustee, SBI Life Insurance Company, DSP Mutual Fund, Max Life Insurance Company, UTI Mutual Fund, Sundaram Mutual Fund, Baroda BNP Paribas, Kotak Mahindra Life Insurance, and LIC MF.

Indian Renewable Energy Development Agency Limited IPO - FAQs

Ans. Indian Renewable Energy Development Agency Limited IPO is a Mainboard IPO. The issue is priced at ₹30-32 per equity share. The minimum order quantity is 460 Shares. The IPO opens on Nov 21, 2023, and closes on Nov 23, 2023. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Indian Renewable Energy Development Agency Limited IPO opens on Nov 21, 2023 and closes on Nov 23, 2023.

Ans. The size of Indian Renewable Energy Development Agency Limited IPO is Total ₹2150.21 Cr : #Fresh Issue : 403,164,706 shares(aggregating up to ₹1,290.13 Cr) + #OFS : 268,776,471 shares of ₹10(aggregating up to ₹860.08 Cr).

Ans. The IPO price band is set between ₹30-32 per equity share.

Ans. To apply for Indian Renewable Energy Development Agency Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Indian Renewable Energy Development Agency Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Indian Renewable Energy Development Agency Limited IPO is Nov 25, 2023.

Ans. The Indian Renewable Energy Development Agency Limited IPO will be listed on Nov 29, 2023.

Ans. Follow the steps to check the allotment status for Indian Renewable Energy Development Agency Limited IPO here.