Indian Renewable Energy Development Agency IPO-IREDA IPO

Indian Renewable Energy Development Agency IPO will open for subscription from 21 November 2023. The company aims for an issue size of ₹2,150.21 Cr through this IPO.

Company Overview

Full nameIndian Renewable Energy Development Agency Limited
Company Website

About Company

IREDA is a financial institution with over 36 years of experience in promoting, developing, and extending financial assistance for new and renewable energy (RE) projects, and energy efficiency and conservation (EEC) projects. The company provides 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.

IREDA is a wholly-owned Government of India (GoI) enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE). The company is a Systemically Important Non-Deposit-taking Non-Banking Finance Company with Infrastructure Finance Company (IFC) status. IREDA was also conferred with the Mini Ratna (Category I) status in June 2015.

As of 30 June 2023, it had a diversified portfolio of Term Loans Outstanding, amounting to INR 47,207 crore. The company has financed projects across multiple RE sectors such as solar power, wind power, hydropower, transmission, biomass including bagasse and industrial co-generation, waste-to-energy, ethanol, compressed biogas, hybrid RE, EEC, and green-mobility.

The Objectives of the Issue

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:-

  • Augmenting the capital base to meet future capital requirements and onwardlending.
  • 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.

IREDA IPO Timetable

IPO Opening date21 November 2023
IPO Closing23 November 2023
Basis of Allotment29 November 2023
Initiation Refund30 November 2023
Credit to Demat Account01 December 2023
Listing Date04 December 2023
(Cut-off time for UPI mandate confirmation – 5 PM on November 23, 2023)

IREDA IPO details

Issue typeBook Built Issue IPO
IPO issue size₹2,150.21 Cr – 671,941,177 shares
Fresh Issue₹1,290.13 Cr – 403,164,706 shares
Offer for sale₹860.08 Cr – 268,776,471 shares
Face value₹10 per share
Price Band ₹30 to ₹32 per share
Lot size460 Shares
Shareholding pre-issue2,284,600,000
Shareholding post-issue
Listing ExchangeBSE & NSE


Retail (Min)1460₹14,720
Retail (Max)135980₹191,360
S-HNI (Min)146,440₹206,080
S-HNI (Max)6730,820₹986,240
B-HNI (Min)6831,280₹1,000,960

IREDA IPO Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

IREDA Financial Performance

 FY 2021FY 2022*FY 2023*H1 FY 2024*
Net income346.38633.53864.63579.32
Margin (%)13.0522.1524.8324.97
(Amount in ₹ Crores)

IREDA Valuations & Margins

FY 2021FY 2022*FY 2023*
PE ratio7.94 – 8.47
RONW (%)12.5615.3315.43
ROE (%)12.5615.3315.44
EBITDA (%)76.5281.4690.49

Company Promoters

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

Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding

IREDA Lead Manager(s)

  • IDBI Capital Market Services Limited
  • BOB Capital Markets Limited
  • SBI Capital Markets Limited

IREDA Registrar

C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949

IREDA Contact Details

3rd Floor, August Kranti Bhavan, Bhikaji Cama Place, New Delhi – 110 066
Phone: +91 11 2671 7400 / 2671 7412

IREDA IPO Allotment Status

IREDA IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.

Final thoughts

Indian Renewable Energy Development Agency IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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