₹ 14720 / 460 shares
30 - 32
Retail Gain/Listing Gain
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.
With that, let's take a look at the competitive strengths and risk factors for Indian Renewable Energy Development Agency Limited:
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.
The application details are given in the table below.
|Minimum B-HNI||68||31,280||Rs. 10,00,960|
Here are the key financials for Indian Renewable Energy Development Agency Limited:
Particulars (in Rs. million)
How to apply for IPO through ASBA
The IREDA Initial Public Offering is scheduled for November 29, 2023.
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.
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.
Details of the size of the issue are as follows.
By choosing to pre-apply, you can apply for the IREDA IPO two days before the commencement of the subscription period.
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.