IND Renewable Energy Rights Issue

IND Renewable Energy Rights Issue will open for subscription from 18 January 2024. the company aims for an issue size of ₹25.43 Crores through this rights Issue.

About the company

Incorporated in 2011, IND Renewable Energy Limited has started generating solar power, including rooftop solar. The company is involved in the business of providing infrastructure, managing, owning, controlling, erecting, commissioning, operating, running, leasing or transferring power plants based on conventional or non-conventional energy sources such as solar energy plants, wind energy plants, mechanical, electrical, hydel, tidal, wave energy, thermal, oil, gas, air, sea energy, diesel oil, heavy furnace oil, naptha, bio-mass, bio-gas, coal, civil engineering works, and similar projects.

They also supply electricity to participating industries, State Electricity Boards, and other boards for industrial, commercial, domestic, public, and other purposes. Additionally, they provide regular services for repairing and maintaining all distribution and supply lines, renewable energy sources, waste treatment plants of all kinds, and equipment thereof in India and outside India. The company also manufactures, procures, and deals in all ancillary products like transformers, batteries, inverters, etc., required for or capable of being used in connection with the above industry. As of March 31st, 2023, the company has six full-time employees. The company is currently in the process of expanding our team.

Objectives of the Issue

  • To acquire the Plant & Machinery to set up a 2.5 MWp Solar PV System. 
  • Payment of Security Deposit for renting Land for setting up of Solar Plant 300.00
  • To meet General Corporate purposes

IND Renewable Energy Rights Issue Timetable

Last Date to buy shares05 January 2024
Record Date08 January 2024
Credit of Rights Entitlements28 January 2024
Bid/Offer Opens On18 January 2024
Renunciation of Rights Entitlements23 January 2024
Bid/Offer Closes On02 February 2024
Deemed Date of Allotment03 February 2024
Credit Date08 February 2024
Listing Date13 February 2024

IND Renewable Energy Rights Issue Details

Issue OpenJanuary 18, 2024 – February 2, 2024
Security NameInd Renewable Energy Ltd
Issue Size (Shares)12,109,440
Issue Size (Amount)₹25.43 Crores
Issue Price₹21 per share
Face Value₹10 per share
Listing AtBSE
Terms of PaymentFull amount of Rs.2 per Equity Share is payable on application.
Entitlement4 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date

Company Financials

Period Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax0.310.00-0.09-0.09
Net Worth3.503.193.193.28
(Amount in ₹ Crore)

IND Renewable Energy Rights Issue Documents

Lead Manager(s)

  • Navigant Corporate Advisors Ltd

IND Renewable Energy Rights Issue Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270

Company Contact Information

Ind Renewable Energy Ltd
503, Western Edge II,
Western Express High Way
Borivali East, Mumbai-400066

Phone: 022 2870 2070

Final Thoughts

Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.

Happy investing

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