IREDA IPO: Open/Close Date, Price, Lot Size, Allotment, Subscription

IPO Details

Bidding Dates

21 Nov '23 - 23 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 21, 2023

IPO Closing Date

Nov 23, 2023

Basis of Allotment

Nov 29, 2023

Initiation of Refunds

Nov 30, 2023

Credit of Shares to Demat Account

Dec 1, 2023

IPO Listing Date

Dec 4, 2023

UPI Mandate Expiry Date

Nov 23, 2023

IREDA IPO Subscription Details

Date	QIB	NII	Retail	EMP	Total
Day 1Nov 21, 2023	1.34x	2.74x	2.01x	2.13x	1.98x
Day 2Nov 22, 2023	2.69x	7.76x	4.32x	5.01x	4.59x
Day 3Nov 23, 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:

Log in to the Angel One app
Go to the IPO Section and then to IPO Orders
Select the individual IPO you applied for and check the allotment status.
As such, Angel One will notify you of your IPO allotment status via push notification and email.

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

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.
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

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.
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.