IREDA IPO Price: ₹30 - ₹32
IPO Date Range: Nov 21, 2023 - Nov 23, 2023
Established in March 1987, the Indian Renewable Energy Development Agency Limited (IREDA) is a government-owned public limited company. Recognized as a Mini Ratna (Category - I) enterprise, IREDA is under the administrative purview of the Ministry of New and Renewable Energy (MNRE).
IREDA's financial products cover a wide spectrum of sectors, including solar power, wind power, hydropower, transmission, biomass, industrial co-generation, waste-to-energy, ethanol, compressed biogas, hybrid RE, energy efficiency, green mobility, and emerging technologies such as biofuel and green hydrogen.
Indian Renewable Energy Development Agency Limited offers a range of fund-based and non-fund-based products, encompassing long-term, medium-term, and short-term loans, top-up loans, bridge loans, takeover financing, and loans against securitization of future cash flows.
Additionally, IREDA extends a line of credit to other Non-Banking Financial Companies (NBFCs) for on-lending to Renewable Energy (RE) and Energy Efficiency and Conservation (EEC) projects.
IREDA's primary goals include:
| IPO Date | November 21, 2023 to November 23, 2023 |
| Listing Date | Monday, December 4, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹30 to ₹32 per share |
| Lot Size | 460 shares |
| Total Issue Size | 671,941,177 shares (aggregating up to ₹2,150.21 Cr) |
| Fresh Issue | 403,164,706 shares (aggregating up to ₹1,290.13 Cr) |
| Offer For Sale | 268,776,390 shares (aggregating up to ₹860.08 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 2,284,600,000 |
| Share holding post issue | 2,687,764,706 |
Investors have the opportunity to bid on a minimum of 460 shares, with the option to increase their bid in multiples of this amount. The table below outlines the range of investments available to both retail investors and high-net-worth individuals (HNIs) in terms of shares and corresponding amounts.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 460 | ₹14,720 |
| Retail (Max) | 13 | 5,980 | ₹ 191,360 |
| S-HNI (Min) | 14 | 6,440 | ₹ 206,080 |
| S-HNI (Max) | 67 | 30,820 | ₹ 986,240 |
| B-HNI (Min) | 68 | 31,280 | ₹1,000,960 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| IPO Open Date | Tuesday, November 21, 2023 |
| IPO Close Date | Thursday, November 23, 2023 |
| Basis of Allotment | Wednesday, November 29, 2023 |
| Initiation of Refunds | Thursday, November 30, 2023 |
| Credit of Shares to Demat | Friday, December 1, 2023 |
| Listing Date | Monday, December 4, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 23, 2023 |
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The Indian Renewable Energy Development Agency Limited (IREDA) experienced a notable surge in revenue, marking a substantial 21.18% increase. Furthermore, the profit after tax (PAT) saw a robust growth of 36.48% during the fiscal year ending on March 31, 2023, compared to the corresponding period ending on March 31, 2022.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 Sept 2023 |
|---|---|---|---|---|
| Assets | 30,293.39 | 36,708.41 | 50,446.98 | 51,208.36 |
| Revenue | 2,657.74 | 2,874.16 | 3,483.04 | 2,320.46 |
| Profit After Tax | 346.38 | 633.53 | 864.63 | 579.32 |
| Net Worth | 2,995.60 | 5,268.11 | 5,935.17 | 6,580.61 |
| Reserves & Surplus | 1,386.12 | 1,776.05 | 2,310.96 | 2,550.36 |
| Total Borrowing | 24,000 | 27,613.07 | 40,165.23 | 39,850.19 |
| KPI | Values |
|---|---|
| P/E (x) | 8.47 |
| Market Cap (Rs Cr) | 8600.85 |
| ROE | 15.44% |
| Debt/ Equity | 6.77 |
| EPS (Rs) | 3.78 |
| RoNW | 15.44% |
The Offer comprises both the Fresh Issue and the Offer for Sale. It's important to note that the company will not directly receive any proceeds from the Offer for Sale; instead, these funds will be directed to the Promoter Selling Shareholder and will not be considered as part of the Net Proceeds.
The net proceeds, on the other hand, are earmarked for specific objectives, including:
Prospectus: Official documents that provide detailed information about the IPO and the company. IREDA IPO DRHP and IREDA IPO RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"IREDA Limited" IPO is ₹30 to ₹32 per share.
The "IREDA Limited" IPO is expected to be listed on Monday, 4 December 2023.
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