IREDA IPO GMP, Listing Dates, IPO Price Band, IPO Lot Size

IREDA IPO is set to launch, with the subscription period commencing on November 21,2023 and closing on November 23,2023. This Mainboard IPO aims to raise ₹2150.21 crores, via a fresh issue of shares and an offer for sale of  ₹860.08 crore (268,776,471) equity shares, each with a face value of ₹10. The price band for the IREDA IPO is fixed at ₹30 – ₹32 per share, with a market lot of 460 shares. The retail investor segment is allocated 35%, while Qualified Institutional Buyers (QIB) have a 50% allocation, and High Net Worth Individuals (HNI) have 15%. IREDA IPO Allotment will done on November 29, 2023 and IREDA IPO listing date is November 29, 2023.

 

IREDA Company Profile

IREDA is a government-owned enterprise, wholly owned by the Government of India (GoI), and operates under the Ministry of New and Renewable Energy (MNRE). Established as a “Public Financial Institution” (PFI) under Section 4A of the Companies Act, 1956, it holds the status of a Systemically Important Non-Deposit-taking Non-Banking Finance Company (NBFC-ND-SI) with Infrastructure Finance Company (IFC) status, registered with the Reserve Bank of India (RBI).

IREDA specializes in promoting, developing, and providing financial assistance for new and renewable energy (RE) projects, energy efficiency and conservation (EEC) projects, and various associated activities such as equipment manufacturing and transmission. They offer a wide range of financial products and services, spanning from project conceptualization to post-commissioning, covering RE projects and value chain elements.

As of June 30, 2023, IREDA had a diverse portfolio of Term Loans Outstanding amounting to ₹472,066.63 million. They have a successful track record of financing projects across multiple RE sectors, including solar power, wind power, hydropower, transmission, biomass, waste-to-energy, ethanol, compressed biogas, hybrid RE, EEC, green mobility, and emerging RE technologies.

 

IREDA IPO GMP

 

IREDA IPO Objectives

The funds raised through the IPO will be utilized for:

1. Fresh Issue-related expenses.
2. General Corporate Purposes

 

IREDA IPO Key Details

• IREDA IPO Open Date: November 21, 2023
• IREDA IPO Close Date: November 23, 2023
• IREDA IPO Size: ₹2150.21 Approximately ₹ Crores, OFS of 268,776,471 Equity Shares
• Offer for Sale: Approximately 268,776,471 shares
• Face Value: ₹10 Per Equity Share
• IREDA IPO Price Band: ₹30 – ₹32 Per Equity Share
• IREDA IPO Listing on: NSE & BSE
• Retail Quota: 35% of the net offer
• NII Quota: 15% of the net offer
• QIB Quota: 50% of the net offer

IREDA IPO Timeline

• IREDA IPO Open Date: November 21, 2023
• IREDA IPO Close Date: November 23, 2023
• Basis of Allotment: November 29, 2023
• Refunds: November 30, 2023
• Credit to Demat Account: November 29, 2023
• IREDA IPO Listing Date: November 29, 2023

 

How to Apply for IREDA IPO

Investors can apply for the IREDA IPO through ASBA (Applications Supported by Blocked Amount) online via their bank accounts or by using the offline IPO forms, which can be downloaded from the NSE website.

 

IREDA Financial Performance (in Crores)

•  Year 2021: Revenue ₹2658, Expense ₹2088, PAT ₹346.38
•  Year 2022: Revenue ₹2874, Expense ₹2040, PAT ₹633.53
•  Year 2023: Revenue ₹3483, Expense ₹2344, PAT ₹864.63
•  Year 2024 (3 Months): Revenue ₹1143, Expense ₹704, PAT ₹294.58

 

IREDA Valuation  FY2023

•  Earnings Per Share (EPS): ₹1.29 per Equity Share
•  Price/Earnings (P/E) Ratio: N/A (Not available)
•  Return on Net Worth (RoNW): 15.43%
•  Net Asset Value (NAV): ₹25.98 per Equity Share

 

IREDA Peer Group

• REC Limited
• Power Finance Corporation

 

IREDA Company Promoters

• The President Of India
• Acting Through The Ministry Of New And Renewable Energy
• Government Of India

 

IREDA IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Email: celloworld.ipo@linkintime.co.in

Website: https://linkintime.co.in

 

IREDA IPO Allotment Status Check

• Check the IREDA IPO allotment status on the Link Intime India website.

 

IREDA IPO Lead Managers (Merchant Bankers)

• BOB Capital Markets Limited
• SBI Capital Markets Limited
• IDBI Capital Markets & Securities Limited.

 

IREDA Company Address

India Habitat Centre, East Court,

Core 4A, 1st Floor, Lodhi Road,

New Delhi – 110003, India

Telephone: +91 11 24682214

Email: equityinvestor2023@ireda.in

Website: www.ireda.in

 

IREDA IPO FAQs

 

What is IREDA IPO?

IREDA IPO is an MAINBOARD IPO. They are going to raise ₹2150.21 Crores via IPO. The issue is priced at ₹30 – ₹32 per equity share. The IPO is to be listed on BSE & NSE.

 

When IREDA IPO will open?

The IPO is to open on November 21, 2023 for NII, and Retail Investors.

 

What is IREDA IPO Investors Portion?

The investors’ portion for QIB  50%, NII  15%, and Retail  35%.

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How to Apply the IREDA IPO?

You can apply IREDA IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.

 

How to Apply IREDA IPO through Zerodha?

For those using Zerodha, the application process involves logging into the Zerodha Console, selecting the IPO under the Portfolio section, and then filling in the necessary details. Approval through a UPI app is also required. Opening a Demat Account with Zerodha may be necessary for some applicants. Open Demat Account with Zerodha.

 

How to Apply the IREDA IPO through Alice Blue?

Alice Blue users can apply by logging into the Alice Blue application, selecting the IPO, and confirming their application. Similar to other methods, approval via a UPI app is required. Opening a Demat Account with Alice Blue may also be necessary. Open a Demat Account with Alice Blue.

 

How to Apply for the IREDA IPO through Motilal Oswal?

Log in to Motilal Oswal Application with your credentials. Select the IPO. You will see the IPO Name. Click on the Bid Button. Confirm your application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Motilal Oswal.

 

What is IREDA IPO Size?

IREDA IPO size is ₹2150.21 crores.

 

What is IREDA IPO Price Band?

IREDA IPO Price Band is ₹30 -₹32  per equity share.

 

What is IREDA IPO Minimum and Maximum Lot Size?

The IPO bid is 460 shares with ₹14,720.

 

What is IREDA IPO Allotment Date?

IREDA IPO allotment date is November 29, 2023.

 

What is IREDA IPO Listing Date?

IREDA IPO listing date is November 29, 2023. The IPO to list on BSE & NSE.