Indian Renewable Energy Development Agency Ltd IPO
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Indian Renewable Energy Development Agency Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 6,719.41 L | ₹ 2,687.76 L | ₹ 2,345.23 L | ₹ 22,846 L | BSE | ₹ 2150.21 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 21 Nov, 23 | 23 Nov, 23 | 460 | ₹ 13,800 | Book Building | 29 Nov, 23 |
Indian Renewable Energy Development Agency Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Finance - Term-Lending Institutions |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 0x | 335032879 | 0 |
| NII | 0x | 100509863 | 0 |
| Retail | 0x | 234523015 | 0 |
| Employee | 0x | 1875420 | 0 |
| Total | 0x | 671941177 | 0 |
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) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 1,715.59 | 1,162.75 | 857.08 |
| EBITDA | 1,745.94 | 1,186.25 | 880.32 |
| PAT | 1,252.23 | 864.63 | 633.53 |
| Total Assets | 3,525.43 | 3,922.78 | 3,180.97 |
| Share Capital | 2,687.76 | 2,284.60 | 2,284.60 |
| Total Borrowings | 32,483.22 | 27,257.87 | 16,793.04 |
| Operating Activities (Net Cash) | 1,282.58 | 888.13 | 656.77 |
| Investing Activities (Net Cash) | 99.34 | -44.82 | -32.17 |
| Financing Activities (Net Cash) | 32,483.22 | 27,257.87 | 16,793.04 |
| Net Cashflow | 735.89 | 954.69 | 526.69 |
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.
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.
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.
- 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.
How To Apply for Indian Renewable Energy Development Agency Ltd IPO Online?
Step 1:
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.
