The IREDA date has been confirmed from November 21 and ended on November 23
The IREDA initial public offering (IPO) is scheduled to begin on November 21 and end on November 23. With the new issue of 40.32 crore shares and the offer for sale of up to 268,776,471 shares at a price of 10 apiece, IREDA IPO hopes to raise about ₹2,150.21 crore through its IPO. HNI is 15%, QIB is 50%, and the retail quota is 35%.
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Bidding Dates
November 21 – 23
Price Range
₹30 to ₹32 per share
Face Value
₹10 per share
GMP
₹12
IREDA GMP
The Cello World Limited IPO GMP is ₹[12].
IPO Overview
IREDA, with the stock code 544026, made its debut on the stock exchange on November 29, 2023. The initial public offering (IPO) received overwhelming response with a subscription rate of 38.80 times. On the same day, the last Grey Market Premium (GMP) for IREDA IPO was updated to ₹12 at 09:27 AM. Based on this GMP, the expected profit/loss for the IPO stood at 37.50%. The IPO of IREDA was issued at a price of ₹32.00 per share. However, when it was listed on the stock exchange, the price soared to ₹50.00, representing a significant increase of 56.25% compared to the allotment price.
IREDA IPO Date & Price Band Details
| IPO Open: | November 21, 2023 |
| IPO Close: | November 23, 2023 |
| IPO Size: | ₹2,150.21 crore |
| Fresh Issue: | 40.32 crore shares |
| Offer for Sale: | Approx 268,776,471 shares |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹30 to ₹32 per equity |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
| Discount: | N/A |
IREDA IPO Market Lot
The IREDA IPO minimum market lot is [.] shares with ₹[.] application amount. Retail investors can apply for up to 13 lots with [.] shares or ₹[.] amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | – | ₹- |
| Retail Maximum | 13 | – | ₹- |
| S-HNI Minimum | 14 | – | ₹- |
| B-HNI Minimum | 68 | – | ₹- |
IREDA IPO Allotment & Listing Dates
The IREDA IPO date is November 21, and the close date is November 23. The IREDA IPO allotment will be finalized in 2023, and the IPO listing will be in 2023.
| Anchor Investors Allotment: | 2023 |
| IPO Open Date: | November 21, 2023 |
| IPO Close Date: | November 23, 2023 |
| Basis of Allotment: | 2023 |
| Refunds: | 2023 |
| Credit to Demat Account: | 2023 |
| IPO Listing Date: | 2023 |
IREDA Company Financial Report
| Year (₹ in Crores) | Revenue | Expense | PAT |
| 2021 | ₹2658 | ₹2088 | ₹346.38 |
| 2022 | ₹2874 | ₹2040 | ₹633.53 |
| 2023 | ₹3483 | ₹2344 | ₹864.63 |
| 2024 3M | ₹1143 | ₹704 | ₹294.58 |
IREDA IPO Valuation – FY2023
| Earning Per Share (EPS): | ₹1.29 per Equity Share |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 15.43% |
| Net Asset Value (NAV): | ₹25.98 per Equity Share |
Company Profile
The IPO of Indian Renewable Energy Development Agency (IREDA) Limited is scheduled to take place from 21st November to 23rd November 2023. IREDA is a Mini-Ratna company under the Ministry of New and Renewable Energy (MNRE). The IPO consists of a fresh issue of 403,164,706 shares valued at ₹1,290.13 crore and an Offer for Sale (OFS) of 268,776,471 equity shares valued at approximately ₹860.08 crore. The total size of the IPO is ₹2,150.21 crore. The share allotment date is set for 29th November, and the IPO will be listed on the stock exchanges on 4th December. The price band for the shares is ₹30 to ₹32 per share, and the lot size is 460 shares. IDBI Capital Markets & Securities Limited,
BoB Capital Markets Limited, and SBI Capital Markets Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar.
Registrar Info
| Name | LINK INTIME INDIA PRIVATE LIMITED |
| Phone number | +91 81 0811 4949 |
| Email ID | indianrenergy@linkintime.co.in |
| Website | linkintime.co.in |
Contact Details
| Name | IREDA Limited |
| Phone number | +91 11 24682214 |
| Email ID | equityinvestor2023@ireda.in |
| Website | https://www.ireda.in |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
