IREDA IPO – Review, Allotment Status, Subscription, Price, Date & moreLast Updated Date: Nov 29, 2023
India’s public sector is witnessing a groundbreaking development as the Indian Renewable Energy Development Agency (IREDA) prepares to launch its historic initial public offering (IPO).
This historic move follows the landmark IPO of Life Insurance Corporation the previous year. With 67.19 crore equity shares on offer, IREDA’s IPO is set to reshape the renewable energy landscape.
This article provides an overview of the Indian Renewable Energy IPO, covering key details such as its structure, size, and its importance in advancing sustainable energy in India.
|Face Value||Rs 10|
|Price Band||Rs 30 to Rs 32|
|Listing At||BSE, NSE|
|Min. Order Quantity||460 Shares|
|Listing Date||December 4, 2023|
|Offer for Sale||Rs 860.08 Crore|
|Fresh Issue||Rs 1,290.13 Crore|
|IPO Size||Rs 2,150.21 Crore|
Indian Renewable Energy IPO Overview
India’s state-owned Indian Renewable Energy Development Agency (IREDA) is charting a historic course with its draft red herring prospectus (DRHP) filing, paving the way for an initial public offering (IPO).
This groundbreaking move is the first by a public sector enterprise since Life Insurance Corporation’s IPO in May of the previous year.
Indian Renewable Energy IPO comprises 67.19 crore equity shares, featuring a fresh issue of 40.31 crore shares by the company and an offer-for-sale of 26.88 crore shares by the Government of India.
Proceeds from the fresh issue will bolster IREDA’s capital base for future projects. With a robust capital adequacy ratio, IREDA’s financial foundation is rock-solid.
Indian Renewable Energy IPO Important Dates
|IPO Opening Date||November 21, 2023|
|IPO Closing Date||November 23, 2023|
|Basis of Allotment Finalization||November 29, 2023|
|Refunds Initiation||November 30, 2023|
|Credit of Shares to Demat Account||December 1, 2023|
|Share Listing Date||December 4, 2023|
While the excitement surrounding the IREDA IPO continues to grow, Indian Renewable Energy IPO’s important dates for this significant event are yet to be disclosed.
As of now, specific timelines for the IPO, including the opening and closing dates, have not been made available to the public. Potential investors and stakeholders eagerly await this crucial information, which will play a pivotal role in their participation and planning.
Indian Renewable Energy IPO Price, Size, Share Offerings
|Price Band||Rs 30 to Rs 32|
|Offer for Sale||Rs 860.08 Crore|
|Fresh Issue||Rs 1,290.13 Crore|
|IPO Size||Rs 2,150.21 Crore|
The IPO comprises a substantial public issue of 67.19 crore equity shares, delineating a dual structure. This offering includes a fresh issue of 40.31 crore equity shares directly from the company, bolstering its financial resources. Additionally, the Government of India will offer 26.88 crore shares via Indian Renewable Energy IPO share offerings.
The proceeds from the fresh issue will primarily bolster IREDA’s capital base to meet future capital needs and advance lending activities, reinforcing its pivotal role in financing new and renewable energy projects and energy efficiency and conservation initiatives.
The IPO is being shepherded by merchant bankers, including IDBI Capital Markets & Securities, BOB Capital Markets, and SBI Capital Markets, marking a significant step in promoting sustainable energy initiatives in India.
Indian Renewable Energy IPO Grey Market Premium
|Date||GMP (Rs.)||Kostak Rate (Rs.)||Subject to Sauda (Rs.)|
|29 Nov 2023||Rs 12||Rs 800||Rs 4000|
|28 Nov 2023||Rs 10||Rs 800||Rs 4000|
|27 Nov 2023||Rs 10||Rs 800||Rs 4000|
|25 Nov 2023||Rs 10||Rs 800||Rs 3000|
|23 Nov 2023||Rs 9||Rs 800||Rs 3000|
|22 Nov 2023||Rs 9||Rs 800||Rs 2300|
|21 Nov 2023||Rs 7||Rs 800||Rs 2300|
|20 Nov 2023||Rs 8||Rs 800||Rs 2300|
|19 Nov 2023||Rs 8||NA||NA|
As of the current update, there is now available data regarding the Grey Market Premium (GMP) for the Indian Renewable Energy IPO.
The IREDA IPO GMP typically reflects the unofficial, over-the-counter market sentiment on an IPO’s potential performance before its official listing. GMP data will become available as the IPO launch date approaches, shedding light on investor sentiment towards this significant renewable energy offering.
Indian Renewable Energy IPO Subscription Status
|Day / Date||QIB||NII||RII||Emp||Total Subscription|
|1st Day – 21st Nov||1.34x||2.74x||2.02x||2.13x||1.98x|
|2nd Day – 22nd Nov||2.69x||7.76x||4.32x||5.01x||4.59x|
|3rd Day – 23rd Nov||104.57x||24.16x||7.73x||9.80x||38.80x|
|Shares Offered or Net Issue||134,013,152||100,509,864||234,523,015||1,875,420||671,941,177|
As anticipation mounts for the Indian Renewable Energy Development Agency (IREDA) IPO, critical information regarding the subscription status remains undisclosed.
Presently, there is no available data regarding the extent of investor interest and subscription levels. Prospective investors and stakeholders keenly await this vital insight into IREDA IPO Subscription status, which will shed light on the market’s response to this pioneering IPO.
Indian Renewable Energy IPO Allotment Status
As the anticipation for the IREDA IPO builds, investors and stakeholders eagerly await information on the IREDA IPO Allotment status.
However, at this juncture, there is no data available regarding the allotment status. Investors are encouraged to stay tuned for updates, as this crucial information will determine their share allocation in this groundbreaking IPO, which signifies a significant step in India’s renewable energy landscape.
Indian Renewable Energy IPO Live Performance
The Indian Renewable Energy Development Agency’s (IREDA) IPO has garnered considerable attention, but up-to-date performance data is currently unavailable. As this exciting venture unfolds, investors eagerly await Indian Renewable Energy IPO live performance updates to gauge the success of this historic offering.
The absence of the latest data keeps stakeholders and the market at large in anticipation, eager to assess the impact of IREDA’s IPO on the renewable energy landscape in India.
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Latest Indian IREDA IPO News
As of the current update, there is no latest news available regarding the Indian Renewable Energy Development Agency (IREDA) IPO.
The anticipated IPO marks a pivotal moment in India’s renewable energy landscape, but specific developments and announcements are awaited. Potential investors and stakeholders are eagerly monitoring the Indian Renewable Energy IPO News for updates on this transformative event in the renewable energy sector.
Indian Renewable Energy – Company Review
Indian Renewable Energy Development Agency Limited (IREDA) was established in 1986 under the Indian Companies Act, of 1956, with a mission to promote, develop, and provide financial support for projects centred on Renewable Sources of Energy.
Operating as a Schedule ‘B’ Central Public Sector Enterprise (CPSE) within the Financial Services sector, it falls under the administrative purview of the Ministry of New and Renewable Energy. IREDA is also recognized as a Non-Banking Financial Company (NBFC) by the Reserve Bank of India.
Notably, it was conferred the esteemed status of Mini Ratna Category-I by the Government of India in June 2015.
As of December 31, 2022, IREDA maintains a dedicated workforce of 158 regular employees, including 142 executives and 16 non-executive personnel.
The authorized and paid-up share capital of IREDA stands at Rs. 6000 crores and Rs. 2284.60 crores, respectively, as of March 31, 2022.
The company’s registered and corporate offices are located in New Delhi, serving as the hub for its operations. Importantly, the Government of India holds a 100% shareholding in IREDA, underscoring its critical role in advancing renewable energy initiatives in the country.
Products or Services
Indian Renewable Energy Development Agency (IREDA) offers a comprehensive suite of products and services to promote Renewable Sources of Energy.
These include financial assistance and project financing for a range of renewable projects, covering solar, wind, hydro, and more. IREDA also provides technical guidance, and risk assessment, and supports energy efficiency and conservation initiatives.
As a vital financial institution in the renewable energy sector, IREDA plays a pivotal role in advancing sustainable energy projects, contributing to India’s green energy objectives.
Promoters and Holding
The President of India, representing the Ministry of New and Renewable Energy, Government of India, serves as the sole promoter of the Indian Renewable Energy Development Agency (IREDA).
This distinguished entity, in conjunction with seven nominees, currently possesses 100.00% of the pre-offer paid-up equity share capital of IREDA.
Given that the Promoter is the President of India, acting through the Ministry of New and Renewable Energy, specific disclosures regarding the ‘promoter group’ have not been provided in accordance with SEBI ICDR Regulations.
Is Indian Renewable Energy Good for Investment?
Indian Renewable Energy Development Agency (IREDA) is a prominent Non-Banking Financial Company (NBFC) in India’s power sector, specializing in renewable energy and environmental technologies.
IREDA offers a diverse array of financial products, including project financing, short-term loans, debt refinancing, and performance guarantees, primarily in wind, hydro, solar, bio-energy, and emerging sectors like electric vehicles.
IREDA aligns with green finance principles, making it a key player in India’s renewable energy transformation. The company has displayed substantial growth, with its loan book reaching ₹4,70,755 million in Fiscal 2023.
Its financial performance is robust, while its commitment to sustainable energy positions it as a pivotal force in India’s green energy evolution.
Indian Renewable Energy Financial Statements
|Amount (in INR & Million)|
|Profit After Tax||
As of June 2023, the Indian Renewable Energy Development Agency (IREDA) demonstrated impressive financial growth.
Outstanding term loans surged at a remarkable 30 per cent Compound Annual Growth Rate (CAGR) between FY21 and FY23, reaching Rs 47,206.66 crore by Q1FY24. Net profit showed a significant CAGR of 58 per cent in the same period, reaching Rs 294.6 crore in Q1FY24, from Rs 864.63 crore in FY23.
While net interest income increased by 17.4 per cent YoY to Rs 1,323.8 crore in FY23, the net interest margin experienced a slight decline to 0.83 per cent in Q1FY24. IREDA’s asset quality improved with reduced non-performing assets and a higher provision coverage ratio.
|Earnings per Equity Share (in Million)|
|Basic & Diluted||
IREDA IPO Review
The Indian Renewable Energy Development Agency (IREDA) is set to make history with its initial public offering (IPO), the first by a public sector entity since LIC’s IPO the previous year.
IREDA’s IPO includes 67.19 crore equity shares, split into a fresh issue of 40.31 crore shares from the company and an offer-for-sale of 26.88 crore shares by the Indian Government.
The IPO’s proceeds will strengthen IREDA’s capital base for future projects. Key dates for the Indian Renewable Energy IPO are awaited. The financial foundation of IREDA is robust, and the IPO is a significant step in advancing sustainable energy initiatives in India.
Indian Renewable Energy IPO Details
Here are a few more details you need to know before investing in an Indian Renewable Energy IPO –
IREDA IPO Issue Object
Thus, Indian Renewable Energy has proposed diverse objectives for making the IPO offer and some of the objectives are:
- To undertake our existing business activities; and
- To undertake the activities proposed to be funded from the Net Proceed
Indian Renewable Energy IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Track record of growth, geared towards high-quality assets, diversified asset book and stable profitability.
- Strategic role in Government of India initiatives in the Renewable Energy sector.
- Established and trusted brand name operating in a rapidly expanding sector.
- Digitized process for borrower centricity and operational scalability, with presence across India
- Comprehensive data-based credit appraisal process and risk-based pricing, with efficient post-disbursement project monitoring and recovery processes.
- Access to diversified and cost-effective long-term sources of borrowing with a [judicious approach] towards asset-liability management.
- Experienced senior management with in-depth sector expertise and a professionally qualified employee base
Quantitative factors are:
|Basic & Diluted EPS||RONW (%)||NAV (Rs.)|
Indian Renewable Energy IPO Lead Managers
Here is the list of Lead managers –
IDBI Capital Markets & Securities Limited
BOB Capital Markets Limited
SBI Capital Markets Limited
Indian Renewable Energy IPO Registrar to offer
Check out the details of the registrar here –
Link Intime India Private Limited
C 101, 1stFloor, 247 Park,
L.B.S. Marg, Vikhroli West,
Mumbai 400 083, Maharashtra, India
Telephone:+91 81 0811 4949
Investor Grievance E-mail:firstname.lastname@example.org
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR00000405
IREDA IPO – Other Details
- Statutory Auditor – DSP & Associates, Chartered Accountants
- Legal Counsel to the Company – Saraf and Partners
- Bankers to the Company – YES Bank Limited and Bank of Baroda
Indian Renewable Energy IPO Verdict by Stock Brokers
Thus, the Indian Renewable Energy IPO, representing a historic step for public sector enterprises, holds immense promise.
The IPO, offering 67.19 crore equity shares, demonstrates IREDA’s commitment to advancing renewable energy. With robust financial performance and strong growth, it is set to attract investor interest. The positive financial indicators, including a substantial CAGR in term loans and improving asset quality, enhance the IPO’s appeal.
IREDA’s pivotal role in sustainable energy projects, coupled with strong financials, positions it as a noteworthy player in India’s renewable energy landscape. As the IPO unfolds, it is poised to make a significant impact on the sector.
Indian Renewable Energy IPO – Conclusion
Indian Renewable Energy IPO is poised to usher in a new era in India’s public sector. With an unwavering commitment to renewable energy and a solid financial foundation, IREDA presents an enticing opportunity for investors.
The company’s impressive financial performance and its role in advancing sustainable energy initiatives position it as a key player in India’s renewable energy transformation.
As this significant IPO unfolds, it is expected to make a profound impact on the renewable energy sector, reinforcing India’s commitment to a greener, more sustainable future.
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Indian Renewable Energy IPO Review FAQs
Check out the FAQs on Indian Renewable Energy IPO –
What is the Issue Size of Indian Renewable Energy IPO?
The Company is making an initial public offer of 671,941,177 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Indian Renewable Energy IPO?
The price band for this particular IPO ranges between Rs.30 to Rs. 32. As far as the face value of the share is concerned, it is Rs.10 per share.
What is the Indian Renewable Energy IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on November 21, 2023, while the closing date is set at November 23, 2023.
What is the Indian Renewable Energy IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on November 29, 2023, refund initiation is on November 30, 2023, credit of shares is on December 1, 2023, and share listing date is on December 4, 2023.
What is the Indian Renewable Energy IPO Listing Date?
Shares of this company shall be listed in the exchanges on December 4, 2023. The date, when the listing would be done, is stagnant on December 4, 2023.
Who is the Registrar of Indian Renewable Energy IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of the IREDA IPO?
Here are the promoters of this IPO – THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF NEW AND RENEWABLE ENERGY, GOVERNMENT OF INDIA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of IREDA IPO?
They have obtained the GMP of this IPO and it is Rs. 12. Further insights into the Kostak rate and subject to sauda or SS are also included in this report.
Is Indian Renewable Energy IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of the Indian Renewable Energy Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 8,646.28, 2022 is 6,335.28, 2021 is 3,463.81. PAT from Jun 2023 is 2,945.82.
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