What is the issue size of IREDA IPO?

The issue size of the IREDA IPO is Rs 2,150.21 cr.

What is 'pre-apply' for IREDA IPO?

Pre-apply will alow you to apply for the IREDA IPO 2 days before the subscription period starts.

If I pre-apply for IREDA IPO, when will my order get placed?

Your order will be placed on the exchange as soon as the IREDA IPO bidding starts. You will receive a UPI request within 24 hours after the bidding period opens.

When will I know if my IREDA IPO order is placed?

We will notify you when your IREDA IPO order is placed with the exchange.

What are the open and close dates of the for IREDA IPO?

IREDA IPO will be open between 21 Nov - 23 Nov, 2023.

What is the lot size and minimum order quantity of the IREDA IPO?

IREDA Limited IPO lot size is 460 shares.

What are the allotment dates for the IREDA IPO?

IREDA IPO allotment date is 29 Nov, 2023. For IREDA IPO allotment status check, you can visit the website of the registrar of the IPO.

Who is the registrar of IREDA IPO?

IREDA IPO registrar is Link Intime India Private Ltd. You can check IREDA IPO allotment status on the website of the registrar.

Where is the IREDA IPO getting listed?

The shares are proposed to be listed on BSE and NSE.

IREDA IPO

IREDA Limited

₹13,800 /460 sharesMinimum Investment

IREDA  IPO Listing DetailsListed OnIssue PriceListing PriceListing Gains
NSE₹32.00₹50.00₹18.00 (56.25%)
IREDA  IPO DetailsBidding DatesMin. InvestmentLot SizePrice Range
21 Nov ‘23 - 23 Nov ‘23₹13,800460₹30 - ₹32
Issue SizeIPO Doc
2150.21CrRHP PDF
Subscription Status As on Invalid DateQualified Institutional Buyers
104.57x
Non-Institutional Investor
24.16x
Retail Individual Investor
7.73x
Employees
9.80x
Total
38.80x
About IREDA IREDA is a government-owned enterprise operating under the Ministry of New and Renewable Energy (MNRE). Recognized as a Public Financial Institution (PFI) in 1995, it is classified as an Infrastructure Finance Company (IFC).
With a track record of over 36 years, IREDA specializes in promoting, developing, and offering financial assistance for new and renewable energy (RE) projects and energy efficiency and conservation (EEC) projects.
IREDA's financial support extends across various RE sectors, including solar power, wind power, hydropower, transmission, biomass (including bagasse and industrial co-generation), waste-to-energy, ethanol, compressed biogas, hybrid RE, EEC, and green mobility. It also facilitates financing for emerging RE technologies such as biofuel, green hydrogen, battery energy storage systems, fuel cells, and hybrid RE projects. Furthermore, IREDA provides consulting services on techno-commercial issues related to the RE sector.
;
Parent Organisation
IREDA Limited
Founded
1987
Managing Director
Mr. Pradip Kumar Das
Strengths & Risks
IREDA is India's largest dedicated green financing non-banking financial company (NBFC), with loan assets of ₹470.7 billion as of March 31, 2023. 
As of March 31, 2023, their term loans outstanding reached ₹470,755.21 million, showing a CAGR of 30.00% since March 31, 2021. Geographically, they maintain a diversified asset base across 23 states and five Union Territories in India.
IREDA's secured term loans outstanding accounted for a substantial percentage of the total, ranging from 86.81% to 93.41%, providing a significant hedge against default. 
IREDA's recognition in the industry is evident through the Mini Ratna (Category I) status conferred in June 2015 and the subsequent upgrade from Schedule B to Schedule A by the Department of Public Enterprises in September 2023. 
The company has garnered a noteworthy clientele, including key players in the RE sector like ReNew Power Private Limited, Continuum MP Windfarm Development Private Energy, Ayana Renewable Power Private Limited, and others.
IREDA has seen an improvement in its Gross NPA, decreasing from 8.77% of term loans outstanding as of March 31, 2021, to 3.13% as of September 30, 2023. Similarly, their Net NPA has shown a positive trend, decreasing from 5.61% of net term loans outstanding as of March 31, 2021, to 1.65% as of September 30, 2023.
IREDA faces potential challenges in managing the quality of its expanding asset portfolio and controlling non-performing assets (NPAs). The company's business and financial performance may be negatively impacted if these aspects are not effectively handled.
Securing borrowings at commercially acceptable terms and competitive rates is crucial. Failure to do so could adversely affect IREDA's business, financial condition, and operational results.
The inherent risks associated with projects and schemes involving renewable energy sources, such as solar, wind, hydro, biomass, waste-to-energy, and emerging technologies, threaten IREDA's business, operational results, and financial condition if they materialize.
Regular inspections by the RBI could expose IREDA to penalties and restrictions if non-compliance or significant lapses are identified. Such instances may impact the company's business adversely.
Past downgrades in credit ratings raise concerns for IREDA. Any future downgrades could adversely affect the company's business, financial condition, and operational results.
Negative cash flows from operations in the past may recur in the future. There is no assurance against the recurrence of such negative cash flows.
Potential revisions regarding Power Purchase Agreements (PPAs) by certain DISCOMs and states could negatively affect the cash flows and financial conditions of IREDA's borrowers, impacting their repayment capabilities.
IREDA's business dependence on the Indian renewable energy sector, particularly within four sectors, leaves it vulnerable to challenges. Ineffective management of risks within these sectors could adversely affect IREDA's business and operations.
Concentration of loans to specific customers makes IREDA susceptible to the financial conditions of these customers. Deterioration in their financial status could materially and adversely affect the company's asset quality, financial condition, and operational results.
A significant portion of NPAs is concentrated in sectors like biomass, cogeneration, hydro, and wind power. Further increases in NPAs within these sectors may adversely affect IREDA's business, financial condition, and operational results.
An increase in contingent liabilities could adversely impact IREDA's business, operational results, and financial condition.
The 50 MW solar project in Kerala, subject to tariff changes by the Kerala State Electricity Regulatory Commission, may adversely affect its viability. Revenue from the project has decreased from ₹ 284.90 million in 2022 to ₹ 269.04 million in 2023.
A concentration of loans in specific states, especially the top five states, exposes IREDA to economic downturns, natural disasters, or regulatory changes, potentially leading to increased defaults by borrowers in those states.
Outstanding litigations involving IREDA could adversely impact the company's business, operational results, and financial condition.
Financials
*All values are in Rs. Cr
No Graph Data To Display
Application detailsApply asPrice bandApply upto
Regular₹30 - 32₹2 Lakh
High Networth Individual₹30 - 32₹2 - 5 Lakh
For IREDA IPO, eligible investors can apply as Regular.

Listed On	Issue Price	Listing Price	Listing Gains
NSE	₹32.00	₹50.00	₹18.00 (56.25%)

Bidding Dates	Min. Investment	Lot Size	Price Range
21 Nov ‘23 - 23 Nov ‘23	₹13,800	460	₹30 - ₹32

Issue Size	IPO Doc
2150.21Cr	RHP PDF

Apply as	Price band	Apply upto
Regular	₹30 - 32	₹2 Lakh
High Networth Individual	₹30 - 32	₹2 - 5 Lakh

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