IPO

Indian Renewable Energy Development Agency Limited IPO

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Finance - NBFC

Listed On: Nov 29, 2023 at ₹ 50.0(NSE)

₹ 14720 /460 Shares

Check Allotment

21 Nov, 2023

Open Date

23 Nov, 2023

Close Date

25 Nov, 2023

Allotment Date

29 Nov, 2023

Listing Date
Price Summary

Last Closing

133.00 (315.63%)

52 Week High

234.29

52 Week Low

129.11

Last Update

19-Dec-2025 3:30 PM
Expected Premium
+ ₹11-12 (34.38%)

*Expected Premium provided in this app is derived from market rumors. It is not a guaranteed indicator of the actual listing price and should be interpreted with caution.

Expected Premium
+ ₹11-12 (34.38%)
Indian Renewable Energy Development Agency Limited IPO Issue Details
  • Issue Price ₹30-32 per equity share
  • Face Value ₹10 Per Equity Share
  • Issue Price Total ₹2150.21 Cr :
    #Fresh Issue : 403,164,706 shares(aggregating up to ₹1,290.13 Cr) +
    #OFS : 268,776,471 shares of ₹10(aggregating up to ₹860.08 Cr)
  • Listing at BSE, NSE
  • List Price 50.0(NSE)
  • Listing Date 2023-11-29
  • Lead Manager Bob Capital Markets Limited
    SBI Capital Markets Limited
  • Registrar Link Intime India Private Ltd
Indian Renewable Energy Development Agency Limited IPO Details
  • Retail Portion 35% (Number of Retail Applications: 5,09,833 Approx),
    (Number of S-HNI Applications : 5,202 Approx),
    (Number of B-HNI Applications : 10,405 Approx)
Indian Renewable Energy Development Agency Limited IPO Documents
DRHP
RHP
ANCHOR
Indian Renewable Energy Development Agency Limited IPO Details


The IPO of Indian Renewable Energy Development Agency Limited is priced at ₹30-32 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Nov 21, 2023 and ends on Nov 23, 2023. The allotment for Indian Renewable Energy Development Agency Limited IPO will be finalized on Nov 25, 2023. Indian Renewable Energy Development Agency Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Nov 29, 2023. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

The book-running lead manager for the IPO is/are Bob Capital Markets Limited, SBI Capital Markets Limited.


The Indian Renewable Energy Development Agency Limited IPO sets its price band at 30-32 for each share. A single application for Indian Renewable Energy Development Agency Limited IPO must contain at least 460 shares.

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Indian Renewable Energy Development Agency Limited IPO Subscription Analysis And Details
Retail
7.73x
QIB
104.57x
NII
24.16x
bNII
26.99x
sNII
18.50x
Total
38.80x
As on QIB NII
bNII   sNII 		Retail Employee Total
Shares Offered / Reserved 134,013,152 100,509,864
67,006,576    33,503,288 		234,523,015 1,875,420 470,921,451
Day 1 21-11-23 05:00 PM
1.34 x 2.72
2.75 x   2.66 x 		1.96 x 2.10 x 1.95 x
Day 2 22-11-23 05:00 PM
2.69 x 7.74
7.96 x   7.30 x 		4.26 x 4.99 x 4.56 x
Day 3 23-11-23 05:00 PM
104.57 x 24.16
26.99 x   18.50 x 		7.73 x 9.80 x 38.80 x
Total No of Applications
28,58,909
Subscription on the basis of Applications
5.61
Indian Renewable Energy Development Agency Limited Valuations
Earnings Per Share (EPS) ₹3.78/-
P/E Ratio 8.47
RoNW 15.44%
Net Asset Value (NAV) - As on 31.03.23 ₹25.98
Indian Renewable Energy Development Agency Limited Company Financials
In Crs.
In Cr.
31-Mar-23 31-Mar-22 31-Mar-21
Assets 50,446.98 36,708.41 30,293.39
Revenue 3,483.04 2,874.16 2,657.74
Profit After Tax 864.63 633.53 346.38
About Indian Renewable Energy Development Agency Limited Company

Indian Renewable Energy Development Agency Limited is 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, the company ensure that its 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.

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Indian Renewable Energy Development Agency Limited - Promoter(s)

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

Pre Issue Share Holding : 100%

Post Issue Share Holding : 75%

Indian Renewable Energy Development Agency Limited IPO - Issue Objectives
1

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 IPO - Anchor Investors

Indian Renewable Energy Development Agency raises Rs 643 crore from anchor investors ahead of IPO.

Marquee names participated in the anchor book included Goldman Sachs, Integrated Core Strategies (Asia), Societe Generale, GAM Star Emerging Equity, BNP Paribas Arbitrage, Moon Capital Trading, and Copthall Mauritius.

Domestic mutual funds and insurance firms that invested in the company through the anchor book include SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon Life India, Kotak Mutual Fund, Aditya Birla Sun Life Trustee, SBI Life Insurance Company, DSP Mutual Fund, Max Life Insurance Company, UTI Mutual Fund, Sundaram Mutual Fund, Baroda BNP Paribas, Kotak Mahindra Life Insurance, and LIC MF.

Indian Renewable Energy Development Agency Limited IPO - Peers Comparison
P/B Ratio P/E Ratio RoNW Revenue(in Cr.)
IREDA 1.11 8.47 15.44% 3,483
REC Limited 1.38 6.90 20.4% 39,486
Power Finance Corporation 1.10 5.71 20.3% 77,568