Indian Renewable Energy Development Agency Ltd

Indian Renewable Energy Development Agency Limited is a Government of India enterprise under the administrative control of the Ministry of New and Renewable Energy. The Company is a Public Financial Institution, registered as a Systemically Important Non-Deposit taking Non-Banking Financial Company, with Infrastructure Finance Company status. The Company has over 36 years of experience in promoting, developing and extending financial assistance for new and renewable energy projects, and energy efficiency and conservation projects. It provides a comprehensive range of financial products and related services, from project conceptualisation to post-commissioning, for renewable energy projects and other value chain activities, such as equipment manufacturing and transmission.

Open Demat Account

50years

Indian Renewable Energy Development Agency Ltd IPO Details

Details

Total Shares OfferedOffer to PublicRetail Max (Shares/Amount)Pre Issue Promoters HoldingExchangeIssue size
671941177268776471234523015 2284600000BSE2150.21
IPO Open DateClose DateLot SizeMin InvestmentIssue TypeListing Date
21 Nov, 2323 Nov, 2346013800Book Building29 Nov, 23

Indian Renewable Energy Development Agency Ltd IPO Details

Indian Renewable Energy Development Agency Ltd IPO Dates

  • 21 Nov 2023

    Opening date

  • 23 Nov 2023

    Closing date

  • 28 Nov 2023

    Basis of
    Allotment

  • 28 Nov 2023

    Initiation of
    Refunds

  • 29 Nov 2023

    Credit of
    Shares

  • 29 Nov 2023

    Listing date

Details

SectorType
SectorFinance - Term-Lending Institutions
Sub SectorNA
Issue TypeBook Building

Subscription Status

*Values are in Lakhs

Investor TypeSubscription TimesShares Offered*Shares Bid*
QIB104.57x3,350.33313.71
NII24.16x1,005.124.16
Retail7.73x2,345.2315.46
Employee9.8x18.75183.79
Total38.8x6,719.41232.80

Subscription Status

Investor Type

QIB

NII

Retail

Employee

Total

*Values are in Lakhs

Indian Renewable Energy Development Agency Ltd Financial Status

Income Statement

Balance Sheet

Particulars (in Rs. Crores)FY23FY22FY21
Revenue from operations1,162.75857.08592.19
EBITDA1,186.25880.32614.86
PAT864.63633.53346.41
Total Assets3,922.763,180.973,278.53
Share Capital2,284.602,284.60784.60
Total Borrowings27,257.8716,793.0413,566.29
Operating Activities (Net Cash)888.13656.77369.08
Investing Activities (Net Cash)-44.82-32.170.11
Financing Activities (Net Cash)27,257.8716,793.0413,566.29
Net Cashflow954.77526.69603.31

Particulars (in Rs. Crores)

Revenue from operations

EBITDA

PAT

Total Assets

Share Capital

Total Borrowings

Operating Activities (Net Cash)

Investing Activities (Net Cash)

Financing Activities (Net Cash)

Net Cashflow

About Indian Renewable Energy Development Agency Ltd

The Company was incorporated in Delhi as Indian Renewable Energy Development Agency Limited, a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated March 11, 1987, issued by the Registrar of Companies, Delhi and Haryana (RoC). The Company received a certificate of commencement of business dated March 21, 1987, by the RoC. The Company was notified as a public financial institution 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. Further, the Reserve Bank of India (RBI) granted a certificate of registration to our Company on January 23, 2008 permitting us to commence/carry on the business of non-banking financial institution without accepting public deposits, and classified as an investment and credit company, which was further reclassified as an infrastructure finance company on March 13, 2023.

In Fiscal 2023, the outstanding credit of key power financing Non-Banking Financial Companies (NBFCs) reached approximately Rs. 9,399 billion, at a CAGR of approximately 10% since Fiscal 2019. In Fiscal 2024, power financing NBFCs are expected to continue this growth momentum, driven by increase in power demand, rise in population, renewable integration and sustainability goals of India. Financing requirement for renewable energy sectors such as solar and wind are set to expand prominently in line with the Government's target of 500 GW installed non-fossil fuel-based power capacity by 2030.

Peer Comparison:

  • REC Ltd
  • Power Finance Corporation Ltd

Indian Renewable Energy Development Agency Ltd IPO Key Points

Strengths

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

Risk

  • Its 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 the company non-performing assets (NPAs).
  • Volatility in interest rates could adversely affect its business, net interest income and net interest margin, which in turn would adversely affect the company's business, results of operations and financial condition.
  • Its may be unable to secure borrowings on commercially acceptable terms and at competitive rates, which could adversely affect its business, results of operations and financial condition.

Strategy

  • Maintain its leadership in RE sectors such as solar, wind, hydro power and biomass, biofuels and cogeneration.
  • Leverage its industry expertise to enhance its presence in new and emerging green technologies.
  • Optimize borrowing costs to enhance competitiveness and profitability.
  • Streamline operating model to continue to support non-linear growth.
  • Continue to focus on the Environmental and Social Management System.

Indian Renewable Energy Development Agency Ltd IPO Key Points

  • Track record of growth, geared towards high quality assets, diversified asset book and stable profitability.
  • Strategic role in Government of India initiatives in the Renewable Energy sector.
  • Established and trusted brand name operating in a rapidly expanding sector.
  • Digitized process for borrower centricity and operational scalability, with presence across India.
  • Comprehensive data-based credit appraisal process and risk-based pricing, with efficient post-disbursement project monitoring and recovery processes.
  • Its 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 the company non-performing assets (NPAs).
  • Volatility in interest rates could adversely affect its business, net interest income and net interest margin, which in turn would adversely affect the company's business, results of operations and financial condition.
  • Its may be unable to secure borrowings on commercially acceptable terms and at competitive rates, which could adversely affect its business, results of operations and financial condition.
  • Maintain its leadership in RE sectors such as solar, wind, hydro power and biomass, biofuels and cogeneration.
  • Leverage its industry expertise to enhance its presence in new and emerging green technologies.
  • Optimize borrowing costs to enhance competitiveness and profitability.
  • Streamline operating model to continue to support non-linear growth.
  • Continue to focus on the Environmental and Social Management System.

How To Apply for Indian Renewable Energy Development Agency Ltd Online?

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Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

Get your FAQs right

Indian Renewable Energy Development Agency Ltd's IPO offers 6,719.41 L shares for up to 1290.13 cr. It begins on Nov 21, 2023 and ends on Nov 23, 2023.

The price of Indian Renewable Energy Development Agency Ltd IPO ranges between ₹30 to ₹32 per share.

The Indian Renewable Energy Development Agency Ltd IPO opens on Nov 21, 2023 and closes on Nov 23, 2023.

The allotment for the Indian Renewable Energy Development Agency Ltd IPO will be finalised on Nov 28, 2023. The shares will be listed on BSE and NSE on Nov 29, 2023.

The minimum lot size for Indian Renewable Energy Development Agency Ltd IPO is 460 shares, priced between ₹30 to ₹32 per share.

The GMP (Grey Market Premium) of Indian Renewable Energy Development Agency Ltd IPO fluctuates based on market demand and sentiment.

To check the allotment status of Indian Renewable Energy Development Agency Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

The Indian Renewable Energy Development Agency Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Nov 21, 2023, and closes on Nov 23, 2023. The allotment is finalised on Nov 28, 2023.

To apply for the Indian Renewable Energy Development Agency Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.