Bookbuilding IPO | ₹2,150 Cr | Listed at BSE, NSE | Tue, Nov 21, 2023 - Thu, Nov 23, 2023
IREDA IPO is a book build issue of ₹2,150.21 crores. The issue is a combination of fresh issue of 40.32 crore shares aggregating to ₹1,290.13 crores and offer for sale of 26.88 crore shares aggregating to ₹860.08 crores.
IREDA IPO bidding started from Nov 21, 2023 and ended on Nov 23, 2023. The allotment for IREDA IPO was finalized on Nov 24, 2023. The shares got listed on BSE, NSE on Nov 29, 2023.
IREDA IPO price band is set at ₹32 per share. The lot size for an application is 460. The minimum amount of investment required by an retail is ₹14,720 (460 shares) (based on upper price). The lot size investment for sNII is 14 lots (6,440 shares), amounting to ₹2,06,080, and for bNII, it is 68 lots (31,280 shares), amounting to ₹10,00,960.
The issue includes a reservation of up to 18,75,420 shares for employees offered at a discount of ₹0.00 to the issue price.
IDBI Capital Markets Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to IREDA IPO RHP for detailed Information.
IPO Open
Tue, Nov 21, 2023
IPO Close
Thu, Nov 23, 2023
Issue Price
₹32 per share
Market Cap (Pre-IPO)
₹8,600.85 Cr
| IPO Date | 21 to 23 Nov, 2023 |
| Listed on | Wed, Nov 29, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹30 to ₹32 |
| Issue Price | ₹32 per share |
| Lot Size | 460 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 67,19,41,177 shares (agg. up to ₹2,150 Cr) |
| Fresh Issue | 40,31,64,706 shares (agg. up to ₹1,290 Cr) |
| Offer for Sale | 26,87,76,471 shares of ₹10 (agg. up to ₹860 Cr) |
| Share Holding Post Issue | 2,68,77,64,706 shares |
| BSE Script Code / NSE Symbol | 544026 / IREDA |
| ISIN | INE202E01016 |
IREDA IPO offers total 67,19,41,177 shares. Out of which 33,50,32,878 (49.86%) allocated to QIB, 13,40,13,152 (19.94%) allocated to QIB (Ex- Anchor), 10,05,09,864 (14.96%) allocated to NII 23,45,23,015 (34.90%) allocated to RII and 20,10,19,726 (29.92%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 33,50,32,878 (49.86%) | NA |
| − Anchor Investor Shares Offered | 20,10,19,726 (29.92%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 13,40,13,152 (19.94%) | NA |
| NII (HNI) Shares Offered | 10,05,09,864 (14.96%) | NA |
| − bNII > ₹10L | 6,70,06,576 (9.97%) | 10,404 |
| − sNII < ₹10L | 3,35,03,288 (4.99%) | 5,202 |
| Retail Shares Offered | 23,45,23,015 (34.90%) | 5,09,832 |
| Employee Shares Offered | 18,75,420 (0.28%) | NA |
| Total Shares Offered | 67,19,41,177 (100.00%) |
Investors can bid for a minimum of 460 shares and in multiples thereof.
| 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 |
| B-HNI (Min) | 68 | 31,280 | ₹10,00,960 |
IREDA IPO raises ₹643.26 crore from anchor investors. IREDA IPO Anchor bid date is November 20, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Nov 20, 2023 |
| Shares Offered | 20,10,19,726 |
| Anchor Portion (₹ Cr.) | 643.26 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Dec 24, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Feb 22, 2024 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in March 1987, Indian Renewable Energy Development Agency Limited is a public limited government company.
IREDA is an experienced financial institution that has been actively promoting, developing, and extending financial assistance for new and renewable energy projects, as well as energy efficiency and conservation projects for over 36 years.
The company offers a comprehensive range of financial products and related services, from project conceptualization to post-commissioning, for RE projects and other value chain activities such as equipment manufacturing and transmission. IREDA is committed to facilitating the transition towards a greener and more sustainable future, and as a reliable partner, the company ensure that its clients receive the best possible support and guidance throughout their projects.
As on March 31, 2023, our Term Loans Outstanding stood at ₹ 470,755.21 million, compared to ₹ 278,539.21 million as on March 31, 2021, increasing at a CAGR of 30.00%, and as of September 30, 2022 and September 30, 2023, our Term Loans Outstanding were ₹ 337,833.59 million and ₹ 475,144.83 million, respectively.
As of September 30, 2023, the company have 175 employees out of which 152 are professionally qualified with engineering, finance, legal, human resource and IT background.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 51,208.36 | 50,446.98 | 36,708.41 | 30,293.39 |
| Total Income | 2,320.46 | 3,483.04 | 2,874.16 | 2,657.74 |
| Profit After Tax | 579.32 | 864.63 | 633.53 | 346.38 |
| NET Worth | 6,580.61 | 5,935.17 | 5,268.11 | 2,995.60 |
| Reserves and Surplus | 2,550.36 | 2,310.96 | 1,776.05 | 1,386.12 |
| Total Borrowing | 39,850.19 | 40,165.23 | 27,613.07 | 24,000.00 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augmenting our capital base to meet future capital requirements and onwardlending |
| KPI | |
|---|---|
| ROE | 15.44% |
| Debt/Equity | 6.77 |
| RoNW | 15.44% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.78 | |
| P/E (x) | 8.47 | 7.42 |
| Promoter Holding | 100% | 75% |
| Market Cap | ₹8,600.85 Cr. |
The IREDA IPO is subscribed 38.8 times on November 23, 2023 5:39:00 PM (Day 3). The public issue subscribed 7.73 times in the retail category, 104.57 times in the QIB category, and 24.16 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 104.57 | 13,40,13,152 | 14,01,35,36,140 |
| NII | 24.16 | 10,05,09,864 | 2,42,82,84,340 |
| bNII (bids above ₹10L) | 26.99 | 6,70,06,576 | 1,80,83,17,500 |
| sNII (bids below ₹10L) | 18.5 | 3,35,03,288 | 61,99,66,840 |
| Retail | 7.73 | 23,45,23,015 | 1,81,22,83,160 |
| Employee | 9.8 | 18,75,420 | 1,83,70,560 |
| Total | 38.8 | 47,09,21,451 | 18,27,24,74,200 |
Total Application : 28,58,909
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission, brokerage and selling commission) | 11.50 |
| 2 | Commission and processing fees for SCSBs, Fees payable to Registrar to the OfferSponsor Banks, brokerage, bidding chargesand selling commission for SyndicateMembers, Registered Brokers, RTAs andCDPs | 3.71 |
| 3 | Fees payable to Registrar to the Offer | |
| 4 | Fees payable to Legal advisors to the Offer | 1.85 |
| 5 | Fees payable to auditors and other consultants | 0.28 |
| 6 | Advertising and marketing expenses for the Offer | 17.38 |
| 7 | Regulators including SEBI, Stock Exchanges fees book building software fees, listing fees and other regulatory expenses | 11.19 |
| 8 | Miscellaneous | 1.25 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹32.00 | ₹32.00 |
| Open | ₹50.00 | ₹50.00 |
| Low | ₹49.99 | ₹50.00 |
| High | ₹59.99 | ₹60.00 |
| Last Trade | ₹59.99 | ₹60.00 |
IREDA IPO is a main-board IPO of 67,19,41,177 equity shares of the face value of ₹10 aggregating up to ₹2,150 Crores. The issue is priced at ₹32 per share. The minimum order quantity is 460.
The IPO opens on Tue, Nov 21, 2023, and closes on Thu, Nov 23, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in IREDA IPO using UPI as a payment gateway. Zerodha customers can apply in IREDA IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in IREDA IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The IREDA IPO opens on Tue, Nov 21, 2023 and closes on Thu, Nov 23, 2023.
IREDA IPO lot size is 460, and the minimum amount required for application is ₹14,720.
You can apply in IREDA IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for IREDA IPO will be done on Friday, November 24, 2023, and the allotted shares will be credited to your demat account by Tue, Nov 28, 2023. Check the IREDA IPO allotment status.
The IREDA IPO listing date is on Wed, Nov 29, 2023.
