₹ 14720 / 460 shares
IPO Details
RHP/DRHPIssue Date
21 Nov - 23 Nov'23
Investment/lot
₹ 14720
Price Range
30 - 32
Lot Size
460
IPO Size
₹ 2150.21 Cr
IPO Listing Details
Listing On
29 Nov'23
Issue Price
32
Listed Price
₹ 50
Retail Gain/Listing Gain
▲56.25%
IPO Timeline
IREDA IPO Review | Issue Details, Future Strategies & More
Kotak Securities
•03m 38s
About IREDA
Indian Renewable Energy Development Agency Limited is a wholly owned Government of India (GoI) enterprise under the administrative control of the Ministry of New and Renewable Energy (the MNRE). The company was notified as a “Public Financial Institution” (PFI) under Section 4A of the Companies Act, 1956 by the Department of Company Affairs, Ministry of Law, Justice and Company Affairs, Government of India on October 17, 1995, and is registered with the Reserve Bank of India (the RBI) as a Systemically Important Non-Deposit-taking Non-Banking Finance Company (a NBFCND-SI), with Infrastructure Finance Company (IFC) status.
They are a financial institution boasting over 36 years of experience in the promotion, development, and extension of financial assistance for new and renewable energy (RE) projects, as well as energy efficiency and conservation (EEC) projects. They offer a comprehensive range of financial products and related services, spanning from project conceptualisation to post-commissioning, for RE projects and other value chain activities, including equipment manufacturing and transmission.
They specialise in financing a variety of projects in renewable energy sectors, including solar power, wind power, hydropower, transmission, biomass, waste-to-energy, ethanol, compressed biogas, hybrid RE, EEC, and green mobility. Their offerings cover a wide range of financial products and services, supporting new and emerging RE technologies like biofuel, green hydrogen, battery energy storage systems, fuel cells, and hybrid RE projects. Their fund-based products cater to RE developers, offering long-term, medium-term, and short-term loans, top-up loans, bridge loans, takeover financing, and loans against securitisation of future cash flows. They extend a line of credit to other NBFCs for on-lending to RE and EEC projects. Additionally, they provide loans to government entities and financing schemes for RE suppliers, manufacturers, and contractors. Non-fund-based products include letter of comfort, letter of undertaking, payment on order instruments, and guarantee assistance schemes. They also offer consulting services on techno-commercial issues related to the RE sector. Established as an integral part, they've played a strategic role in the GoI’s initiatives for promoting and developing the RE sector in India.
Competitive Strengths
Risk Factors
- The business and financial performance could suffer if the company is unable to effectively manage the quality of its growing asset portfolio and control the level of its non-performing assets.
- Volatility in interest rates could adversely affect the business, hedging instruments, net interest income and net interest margin, which in turn would adversely affect the business.
- The business may be unable to secure borrowings on commercially acceptable terms and at competitive rates, which could adversely affect the business.
Key Strategies
- Maintain leadership in RE sectors such as solar, wind, hydropower and biomass, biofuels and cogeneration.
- Leverage industry expertise to enhance company presence in new and emerging green technologies.
- Optimise borrowing costs to enhance competitiveness and profitability.
How to apply for IREDA IPO?
To apply for IREDA IPO, log in to your Kotak Securities account and follow the below-mentioned steps.
Step 1 Choose the issue in the Existing Initial Public Offerings section from your Kotak Securities account.
Step 2 Use the number and price of lots you would like to apply for.
Step 3 Please enter a UPI identification number and click on the submit button.
Step 4 Your bid will then be submitted to the exchange using this.
Step 5 You will be notified of a mandate to block funds in your UPI app.
Step 6 Funds will be blocked as soon as you approve the UPI mandate request.
Following the above steps, you can easily apply for IREDA IPO with your Kotak Securities account.
Application Details
The application details are given in the table below.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
Minimum Retails | 1 | 460 | Rs.14,720 |
Maximum Retail | 13 | 5980 | Rs.1,91,360 |
Minimum S-HNI | 14 | 6,440 | Rs.2,06,080 |
Maximum S-HNI | 67 | 30,820 | Rs.9,86,240 |
Minimum B-HNI | 68 | 31,280 | Rs. 10,00,960 |
Key Financials
Here are the key financials for Indian Renewable Energy Development Agency Limited:
Particulars (in Rs. million)
Particulars (in Rs. million)
How to apply for IPO through ASBA
Kotak Securities
•00m 59s
How to apply for an IPO using UPI
Kotak Securities
•01m 19s
Indian Renewable Energy Development Agency Ltd IPO FAQs
When is Indian Renewable Energy Development Agency Ltd IPO listing date?
Indian Renewable Energy Development Agency Ltd will list on 2023-11-29.
What is the issue size of Indian Renewable Energy Development Agency Ltd IPO?
2150.21 is the issue size of Indian Renewable Energy Development Agency Ltd IPO.
What is the minimum lot size required for Indian Renewable Energy Development Agency Ltd IPO?
The minimum lot size is 460 shares and the investment required is ₹14720.
What is the price band of the Indian Renewable Energy Development Agency Ltd IPO?
The price band of Indian Renewable Energy Development Agency Ltd IPO is ₹30 to ₹32.
Where can I read more about Indian Renewable Energy Development Agency Ltd business?
You can read more about Indian Renewable Energy Development Agency Ltd and its IPO from the company’s red herring prospectus (RHP) here.
When is the IREDA IPO allotment?
The IREDA Initial Public Offering is scheduled for November 29, 2023.
When is the IREDA IPO listing date?
On Wednesday, November 29, 2023, the IREDA Initial Public Offering allocation is expected to be finalised. The IREDA Initial Public Offering will be made public on the BSE and NSE with a tentative listing date of Monday, December 4, 2023.
What is the objective of IREDA IPO?
IREDA aims to raise Rs. 2,150.21 crore through an initial public offering. A price range of 30-32 per share has been fixed for the public offer, which will close on November 23. The company will use net proceeds to increase its equity base to meet future capital requirements and additional financing.
What is the issue size of the IREDA IPO?
Details of the size of the issue are as follows.
- The total size of the offer is Rs. 2,150 crores.
- The fresh issue size is Rs. 1,290 crores.
- The offer for sale size is Rs 860 crore.
- Face value is Rs 10 apiece.
What is 'pre-apply' for IREDA IPO?
By choosing to pre-apply, you can apply for the IREDA IPO two days before the commencement of the subscription period.
What is the price band of the IREDA IPO?
The range for the price band of IREDA's initial public offering is between Rs. 30 and Rs. 32 per equity share, with a face value of Rs. 10.
