IREDA IPO

IREDA Limited

₹13,800 /460 sharesMinimum Investment

IREDA IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
21 Nov ‘23 - 23 Nov ‘23₹13,800460₹30 - ₹32
Issue SizeIPO Doc
2150.21Cr
RHP PDF

Subscription rate

Qualified Institutional Buyers104.57x
Non-Institutional Investor24.16x
Retail Individual Investor7.73x
Employees9.8x
Total38.8x

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. ;
Founded in
1987
Managing director
Mr. Pradip Kumar Das
Parent organisation
IREDA Limited

Strengths & Financials of IREDA

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 Financials

*All values are in Rs. Cr
No Graph Data To Display

Application Details of IREDA IPO

Apply asPrice bandApply upto
Regular30 - 32₹2 Lakh
High Networth Individual30 - 32₹2 - 5 Lakh
For IREDA IPO, eligible investors can apply as Regular.
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