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Indian Renewable Energy Development Agency Limited (IREDA) IPO Detail

Indian Renewable Energy Development Agency Limited (IREDA) IPO Detail

Incorporated in March 1987,Indian Renewable Energy Development Agency Limitedis 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, we ensure that our 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.

Company Promoters

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

IPO Details

IPO Opening DateNov 21, 2023
IPO Closing DateNov 23, 2023
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹30 - 32 per equity share
Market Lot460 Shares
Min Order Quantity460 Shares
Listing AtBSE, NSE
Issue Size₹2,150.21 Cr
Fresh Issue₹1,290.13 Cr
Offer for Sale₹860.08 Cr
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 1.34x 2.73x 1.98x - 1.96x
Day 2 0.80x 2.29x 1.96x - 1.70x
Day 3 104.57x 24.16x 7.73x - 38.80x

IPO Tentative Timetable

The Indian Renewable Energy Development Agency Limited (IREDA) IPO open date is Nov 21, 2023, and the close date is Nov 23, 2023. The issue may list on Nov 29, 2023.

IPO Open DateNov 21, 2023
IPO Close DateNov 23, 2023
Basis of Allotment DateNov 24, 2023
Initiation of RefundsNov 25, 2023
Credit of Shares to Demat AccountNov 28, 2023
IPO Listing DateNov 29, 2023

IPO Lot Size

The Indian Renewable Energy Development Agency Limited (IREDA) IPO market lot size is 460 shares. A retail-individual investor can apply for up to 13 lots (5980 shares or ₹191360).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding75%

Company Financials:

For the year/period ended (₹ in Cr.)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 30293.39 2657.74 346.38
31-Mar-22 36708.41 2874.16 633.53
31-Mar-23 50446.98 3483.04 864.63

Objects of the Issue:

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 (IREDA) IPO Registrar:

Link Intime India Private Ltd

Indian Renewable Energy Development Agency Limited (IREDA) IPO Lead Manager(s):

Bob Capital Markets Limited SBI Capital Markets Limited

Company Contact Information:

Indian Renewable Energy Development Agency Limited (IREDA)

India Habitat Centre

East Court, Core 4A,

1stFloor, Lodhi Road, New Delhi–110003