Indian Renewable Energy Development Agency Limited IPO is set to launch on 21 November, 2023. The company initiated its business operations in the year 1987. IREDA is a Category – I government enterprise as is a public limited company. The control of the firm is done by the Ministry of New and Renewable Energy. The company had achieved the target of maximum loan disbursement in the year 2022 at 16070 Crore Rs and the loan sanctions were at 23921 Crore Rs. The product portfolio of the firm includes services from project conceptualization to post commissioning for RE projects such as equipment manufacturing and transmission.
Indian Renewable Energy Development Agency Limited IPO DETAILS
Indian Renewable Energy Development Agency Limited IPO is set to launch on 21 November, 2023. The subscription timeline extends till 23 November, 2023. The size for the IPO is 2150.21 Crore Rs. Shares issued through fresh issue mode are worth Rs 1290.13 Crore Rs. Shares issued through offer for sale mode are worth Rs 860.08 Crore. The lot size is 460 shares and the price is 30 Rs to 32 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.
Tabular Description of Indian Renewable Energy Development Agency Limited IPO
| IPO OPENING DATE | 21 November, 2023 |
| CLOSING DATE FOR IPO | 23 November, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 30 Rs. to 32 Rs. per share |
| LOT SIZE | 460 shares |
| MINIMUM ORDER QUANTITY | 460 shares |
| ISSUE SIZE | 2150.21 Crore Rs. |
| OFFER FOR SALE | 860.08Crore Rs. |
| FRESH ISSUE | 1290.13 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 4 December, 2023 |
Indian Renewable Energy Development Agency Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 21 November, 2023 |
| CLOSING DATE FOR IPO | 23 November, 2023 |
| IPO ALLOTMENT DATE | 29 November, 2023 |
| REFUNDS | 30 November, 2023 |
| DEMAT A/C CREDITED ON | 1 December, 2023 |
| IPO LISTING DATE | 4 December, 2023 |
Indian Renewable Energy Development Agency Limited IPO begins for subscription from 21 November, 2023. The IPO subscription would continue till 23 November, 2023. The allotment status for the shareholders who applied would come on 29 November, 2023. The refunds for the ones who did not get allotment would be initiated on 30 November, 2023. The DEMAT accounts of shareholders would be credited on 1 December, 2023. The listing of the company would be completed on 4 December, 2023.
Indian Renewable Energy Development Agency Limited IPO : Lead Managers
The lead managers are :
- BOB Capital Markets Limited
- IDBI Capital Market Services
- SBI Capital Markets Limited
The minimum lot size for the company is decided at 460 shares. This holding accounts to 14720 Rs.. The maximum lot size is decided at 5980 shares. This amounts to 191360 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 460 shares | 14720 Rs. |
| Maximum | 5980 shares | 191360 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 30293 | 36708 | 50446 |
| Revenue | 2657 | 2874 | 3483 |
| PAT | 346 | 633 | 864 |
Indian Renewable Energy Development Agency Limited had an asset base of 30293 Crore Rs in the year 2021. This increased to 36708 Crore Rs in the year 2022. The asset base of the company became 50446 Crore Rs in the year 2023. The revenue of the firm was 2657 Crore Rs in the year 2021 which increased to 2874 Crore Rs in 2022 and 3483 Crore Rs in 2023. The profit of the firm was 346 Crore Rs in 2021, 633 Crore Rs in 2022 and 864 Crore Rs in 2023.
PROS
- IREDA is a Category – I government enterprise as is a public limited company. The control of the firm is done by the Ministry of New and Renewable Energy.
- The company had achieved the target of maximum loan disbursement in the year 2022 at 16070 Crore Rs and the loan sanctions were at 23921 Crore Rs.
- The product portfolio of the firm includes services from project conceptualization to post commissioning for RE projects such as equipment manufacturing and transmission.
CONS
- The company works in a highly competitive segment.
Indian Renewable Energy Development Agency Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Indian Renewable Energy Development Agency Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
