IREDA IPO GMP, detail analysis, price, review, share 2023

IREDA IPO description – IREDA limited  is coming up with its Initial public offering. The IPO will be open for subscription on  21th november 2023

 

 

IREDA IPO – Details

IREDA IPO Dates 21 – 23 November 2023
IREDA Issue Price INR 30 – 32 per share
Fresh issue 403,164,706 shares (INR 1,209.49 – 1,290.13 crore)
Offer For Sale 268,776,471 shares (INR 806.33 – 860.08 crore)
Total IPO size 671,941,177 shares (INR 2,015.82 – 2,150.21 crore)
Minimum bid (lot size) 460 shares (INR 14,720)
Face Value  INR 10 per share
Retail Allocation 35%
Listing On BSE, NSE

 

 

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IREDA IPO – Date Schedule

 

 

IPO Open Date 21 November 2023
IPO Close Date 23 November 2023
Basis of Allotment Date 28 November 2023
Initiation of Refund 28 November 2023
Credit of Shares to Demat Account 29 November 2023
IPO Listing Date 01 December 2023
Cut-off time for UPI mandate confirmation 5 PM on 23 November 2023

 

IREDA Technologies IPO – Lots Size & Price

 

 

Application Lots Shares Amount
Retail (Min) 1 460 14,720
Retail (Max) 13 5,980 1,91,360
S-HNI (Min) 14 6,440 2,06,080
S-HNI (Max) 67 30,820 9,86,240

IREDA IPO- About company 

 

IREDA is registered with the RBI as a Systemically Important Non-Deposit-taking NonBanking Finance Company (“NBFCND- SI”), with Infrastructure Finance Company (“IFC”) status.

Indian Renewable Energy Development Agency Limited is a public limited government company. IREDA, the Mini Ratna (Category-I) status, is a wholly owned government enterprise under the administrative control of the Ministry of New and Renewable Energy (“MNRE”).

IREDA is a financial institution with over 36 years of experience in the business of promoting, developing and extending financial assistance for new and renewable energy (“RE”) projects, and energy efficiency and conservation (“EEC”) projects. They provide a comprehensive range of financial products and related services, from project conceptua-lisation to post-commissioning, for RE projects and other value chain activities.

They have financed projects across multiple RE sectors such as solar power, wind power, hydro power, transmission, biomass including bagasse and industrial co-generation, waste-to-energy, ethanol, compressed biogas, hybrid RE, EEC and green-mobility.

As of June 30, 2023, IREDA had a diversified portfolio of Term Loans Outstanding, amounting to ₹47,206.66 crore.

 

IREDA IPO
IREDA IPO

 

IREDA IPO- industry overview 

 

Indian power generation sector is one of the most diversified in the world. Power generation sources in India range from conventional sources such as coal, lignite, natural gas, oil, and nuclear to viable unconventional sources such as wind, solar, hydro, agricultural and household waste. Electricity generation in India increased from 1,372 BU in Fiscal 2019 to 1,618 BU in Fiscal 2023, implying a CAGR of 4.2%. Electricity generation increased by about 6% year-on-year to 745 BU during April 2023 to August 2023.

 

 Thermal power forms the largest source of power in the country with about 75% of the electricity consumed being generated from thermal power plants. Renewable Energy Sources (“RES”) including solar, wind and hydro are quickly increasing their share and their contribution has increased from 19.1% in Fiscal 2019 to 23% in Fiscal 2023.

 

Indian Renewable Energy Development

Agency Financial Performance

 

  FY 2021 FY 2022* FY 2023* H1 FY 2024*
Revenue 2,654.81 2,859.90 3,481.98 2,319.83
Expenses 2,088.23 2,040.32 2,343.80 1,501.02
Net income 346.38 633.53 864.63 579.32
Margin (%) 13.05 22.15 24.83 24.97

Figures in INR Crores

 

Indian Renewable Energy Development

Agency Valuations & Margins

 

FY 2021 FY 2022* FY 2023*
EPS 4.41 8.03 3.78
PE ratio 7.94 – 8.47
RONW (%) 12.56 15.33 15.43
NAV 38.18 23.06 25.98
ROE (%) 12.56 15.33 15.44
EBITDA (%) 76.52 81.46 90.49
Debt/Equity 8.01 5.24 6.77

 

Indian Renewable Energy Development Agency Offer News

 

 

IREDA IPO Competitive Strengths

 

  • Track record of growth, geared towards high quality assets, diversified asset book and stable profitability.
  • Strategic role in Government initiatives in the Renewable Energy sector.
  • Established and trusted brand name operating in expanding sector.
  • Digitized process for borrower centricity and operational scalability.
  • Comprehensive data-based credit appraisal process and risk-based pricing, with efficient post-disbursement, project monitoring and recovery processes.
  • Access to diversified and cost-effective long-term sources of borrowing.

 

IREDA IPO- Object Of The Issue

 

 

  • 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.

 

Indian Renewable Energy Development Agency IPO Peer Comparison

 

 

S. No. Face Value Company Name PE
1 10 REC Limited 5.81
2 10 Power Finance Corporation 4.52

IREDA IPO GMP Today

 

IPO GMP Kostak Subject to Sauda
8

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.

 

 

Indian Renewable Energy Development Agency Offer Lead Manager

 

SBI CAPITAL MARKETS LIMITED
1501, 15th floor, A&B Wing
Parinee Crescenzo, G Block, Bandra Kurla Complex,
Bandra (East), Mumbai – 400 051, Maharashtra
Phone: +91 22 4006 9807
Email: ireda.ipo@sbicaps.com
Website: www.sbicaps.com

 

Indian Renewable Energy Development Agency Offer Registrar

LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: indianrenergy@linkintime.co.in
Website: www.linkintime.co.in

 

IREDA Contact Details

 

INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LIMITED
3rd Floor, August Kranti Bhavan, Bhikaji Cama Place, New Delhi – 110 066
Phone: +91 11 2671 7400 / 2671 7412
Email: equityinvestor2023@ireda.in
Website: www.ireda.in

 

2023-10-13 (4)

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