Indian Renewable Energy Development Agency IPO Details
Issue Date
21 Nov - 23 Nov'23
Price Range
₹30 - ₹32
Lot Size
460
IPO Size
₹2150.21 Cr
Indian Renewable Energy Development Agency IPO Listing Details
Listing On
29 Nov'23
Issue Price
₹32
Listed Price
₹ 50
Retail Gain/Listing Gain
▲56.25%
Schedule of Indian Renewable Energy Development Agency IPO
Start date
21/11/2023
End date
23/11/2023
Allotment of bids
Refund Initiation
Listing on exchange
29/11/2023
IREDA IPO Review | Issue Details, Future Strategies & More
Kotak Neo
•03m 38s
About IREDA
Indian Renewable Energy Development Agency Limited is a wholly owned Government of India (GoI) enterprise under the administrative control of the Ministry of New and Renewable Energy (the MNRE). The company was notified as a “Public Financial Institution” (PFI) under Section 4A of the Companies Act, 1956 by the Department of Company Affairs, Ministry of Law, Justice and Company Affairs, Government of India on October 17, 1995, and is registered with the Reserve Bank of India (the RBI) as a Systemically Important Non-Deposit-taking Non-Banking Finance Company (a NBFCND-SI), with Infrastructure Finance Company (IFC) status.
They are a financial institution boasting over 36 years of experience in the promotion, development, and extension of financial assistance for new and renewable energy (RE) projects, as well as energy efficiency and conservation (EEC) projects. They offer a comprehensive range of financial products and related services, spanning from project conceptualisation to post-commissioning, for RE projects and other value chain activities, including equipment manufacturing and transmission.
They specialise in financing a variety of projects in renewable energy sectors, including solar power, wind power, hydropower, transmission, biomass, waste-to-energy, ethanol, compressed biogas, hybrid RE, EEC, and green mobility. Their offerings cover a wide range of financial products and services, supporting new and emerging RE technologies like biofuel, green hydrogen, battery energy storage systems, fuel cells, and hybrid RE projects. Their fund-based products cater to RE developers, offering long-term, medium-term, and short-term loans, top-up loans, bridge loans, takeover financing, and loans against securitisation of future cash flows. They extend a line of credit to other NBFCs for on-lending to RE and EEC projects. Additionally, they provide loans to government entities and financing schemes for RE suppliers, manufacturers, and contractors. Non-fund-based products include letter of comfort, letter of undertaking, payment on order instruments, and guarantee assistance schemes. They also offer consulting services on techno-commercial issues related to the RE sector. Established as an integral part, they've played a strategic role in the GoI’s initiatives for promoting and developing the RE sector in India.
Competitive Strengths
Risk Factors
- The business and financial performance could suffer if the company is unable to effectively manage the quality of its growing asset portfolio and control the level of its non-performing assets.
- Volatility in interest rates could adversely affect the business, hedging instruments, net interest income and net interest margin, which in turn would adversely affect the business.
- The business may be unable to secure borrowings on commercially acceptable terms and at competitive rates, which could adversely affect the business.
Key Strategies
- Maintain leadership in RE sectors such as solar, wind, hydropower and biomass, biofuels and cogeneration.
- Leverage industry expertise to enhance company presence in new and emerging green technologies.
- Optimise borrowing costs to enhance competitiveness and profitability.
How to apply for IREDA IPO?
To apply for IREDA IPO, log in to your Kotak Neo account and follow the below-mentioned steps.
Step 1 Choose the issue in the Existing Initial Public Offerings section from your Kotak Neo account.
Step 2 Use the number and price of lots you would like to apply for.
Step 3 Please enter a UPI identification number and click on the submit button.
Step 4 Your bid will then be submitted to the exchange using this.
Step 5 You will be notified of a mandate to block funds in your UPI app.
Step 6 Funds will be blocked as soon as you approve the UPI mandate request.
Following the above steps, you can easily apply for IREDA IPO with your Kotak Neo account.
Application Details
The application details are given in the table below.
Minimum Retails | 1 | 460 | Rs.14,720 |
Maximum Retail | 13 | 5980 | Rs.1,91,360 |
Minimum S-HNI | 14 | 6,440 | Rs.2,06,080 |
Maximum S-HNI | 67 | 30,820 | Rs.9,86,240 |
Minimum B-HNI | 68 | 31,280 | Rs. 10,00,960 |
Key Financials
Here are the key financials for Indian Renewable Energy Development Agency Limited:
How to apply for IPO through ASBA
Kotak Neo
•00m 59s
Indian Renewable Energy Development Agency IPO FAQs
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