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IREDA IPO

IREDA IPO

  • Status: Closed
  • RHP:
  • ₹ 13,800 / 460 shares

    Minimum Investment

IPO Details

  • Open Date

    21 Nov 2023

  • Close Date

    23 Nov 2023

  • IPO Price Range

    ₹ 30 to ₹ 32

  • IPO Size

    ₹ 2150.21 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    29 Nov 2023

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IPO Timeline

IREDA IPO Subscription Status

Last Updated: 29 November 2023 9:50 AM by 5Paisa

Indian Renewable Energy Development Agency (IREDA) Limited IPO is all set to open from 21st November to 23rd November 2023. The company is a Mini-Ratna under the Ministry of New and Renewable Energy (MNRE). The IPO includes a fresh issue of 403,164,706 shares worth ₹1,290.13 cr and an Offer for Sale (OFS) of 268,776,471 equity shares worth around ₹860.08 cr. The total IPO size is ₹2,150.21 cr. The share allotment date is 29th November, and the IPO will be listed on 4th December on the stock exchanges. The price band is ₹30 to ₹32 per share and the lot size is 460 shares.    

IDBI Capital Markets & Securities Limited, BoB Capital Markets Limited, and SBI Capital Markets Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar. 

Objectives of IREDA IPO:

●    The company will utilise the funds raised from fresh issues for capital requirements and onward lending.
 

IREDA IPO Video:

 

Established in 1987, the Indian Renewable Energy Development Agency is a Government of India enterprise and falls under the Ministry of New and Renewable Energy (MNRE). IREDA works as a Public Financial Institution and is registered with the Reserve Bank of India as a Systemically Important Non-Deposit-taking Non-Banking Finance Company (a “NBFCND-SI”), with Infrastructure Finance Company (“IFC”) status. IREDA was also conferred with the Mini Ratna (Category I) status in June 2015. 

IREDA Ltd. promotes, develops, and provides financial aid for new and renewable energy (“RE”) projects, and energy efficiency and conservation (“EEC”) projects. Since FY2021, the company has consistently been rated ‘Excellent’ by the MNRE in the course of evaluation of our performance in achieving key targets. 

As of FY 2023, IREDA has sanctioned loans worth ₹325,86.60 cr and its total loan disbursal stood at ₹216,39.21 cr. 

Peer Comparison
●    REC Limited
●    Power Finance Corporation
 

For More Information:
IREDA IPO GMP
Webstory on IREDA IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 3481.97 2859.89 2654.81
EBITDA 3150.79 2329.77 2031.39
PAT 864.62 633.52 346.38
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 50446.98 36708.40 30293.39
Share Capital 2284.60 2284.60 784.60
Total Borrowings 44511.81 31440.29 27297.79
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities -12343.07 5254.11 -3259.14
Net cash from / (used in) investing activities -17.20 -107.12 -2.098
Net cash flow from / (used in) financing activities 12367.64 5271.39 2441.17
Net increase (decrease) in cash and cash equivalents 7.36 -89.84 -820.06


Strengths

1.    The company has a track record of growth, geared towards high-quality assets and diversified asset book and stable profitability.
2.    It plays a strategic role in the Government of India's initiatives in the Renewable Energy sector.
3.    It is an established and trusted brand name operating in a rapidly expanding sector.
4.    The company also works on the basis of a robust IT infrastructure with an Enterprise Resource Planning System (“ERP System”).
5.    It follows a comprehensive data-based credit appraisal process and risk-based pricing, with efficient post-disbursement project monitoring and recovery processes.
6.    Access to diversified and cost-effective long-term sources of borrowing with a judicious approach towards asset-liability management.
7.    The management team and board are quite experienced.
 

Risks

1.    Volatility in interest rates could adversely affect the business.
2.    The business is subject to periodic inspections by the RBI.
3.    Any downgrade in the credit ratings could adversely affect the business.
4.    Negative cash flow in the past. 
5.    A significant portion of the NPAs are concentrated in loans to sectors such as biomass power and cogeneration, hydropower and wind power. 
6.    High working capital requirements. 
7.    The company and its borrowers are required to comply with GoI policies.
8.    It has a concentration of loans in certain states.
9.    The company operates in a highly competitive environment and increased competition in lending to the RE sector can impact the business.
 

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FAQs

The minimum lot size of IREDA IPO is 460 shares and the investment required is ₹13,800.

The price band of IREDA IPO is ₹30 to ₹32.

The IREDA IPO is open from 21st November to 23rd November 2023.
 

The size of IREDA IPO is around ₹2,150.21 cr. 

The share allotment date of IREDA IPO is 29th of November 2023.

The IREDA IPO will be listed on the 4th of December 2023.

IDBI Capital Markets & Securities Limited, BoB Capital Markets Limited, and SBI Capital Markets Limited are the book-running lead managers for IREDA IPO.

The company will utilise the funds raised from fresh issues for capital requirements and onward lending.
 

To apply for IREDA IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the IREDA IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
●    You will receive a mandate notification to block funds in your UPI app.