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?
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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 |
|---|---|---|
| Total Income | 34,830.44 | 28,741.55 |
| Sales Growth (%) | 21.18% | 8.14% |
| Profit After Tax (PAT) | 8,646.28 | 6,335.28 |
| Cash & Cash Equivalents | 1,385.31 | 1,311.75 |
| Return on Net Worth (%) | 20.87% | 19.16% |
| Earnings Per Share | 3.78 | 8.03 |
| Total Borrowings | 4,01,652.80 | 2,76,130.72 |
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Strengths
4Experiencing 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.
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.
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
4Fluctuations 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.
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.
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.
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.
