IREDA Ltd IPO: Check IPO Date, Price, Details | Espresso


Indian Renewable Energy Development Agency Ltd IPO opens on November 21. Check IPO Details Issue Date Price

November 20, 2023
Indian Renewable Energy Development Agency Ltd IPO opens on November 21. Check IPO Details Issue Date Price

Indian Renewable Energy Development Agency Limited is coming out with a fresh public issue to raise Rs. 2150.21 crores from the market.

Below are the details of the IREDA Limited IPO:

  • Issue opens – November 21 (Tuesday)
  • Issue closes – November 23 (Thursday)
  • Issue size – Rs. 2150.21 crores
  • Price band – Rs. 30 to Rs. 32 per equity share
  • Bid lot – 460 shares and in multiples thereof.

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And here are some details of the company and further details on the IREDA Limited IPO.

Company details:

  • IREDA are a wholly owned Government of India (“GoI”) enterprise under the administrative control of the Ministry of New and Renewable Energy (the “MNRE”). They are a Mini Ratna financial institution with over 36 years of experience in the business of promoting, developing and extending financial assistance for new and renewable energy (“RE”) projects, and energy efficiency and conservation (“EEC”) projects. They provide a comprehensive range of financial products and related services, from project conceptualisation to post-commissioning, for RE projects and other value chain activities, such as equipment manufacturing and transmission.
  • They have financed projects across multiple RE sectors such as solar power, wind power, hydro power, transmission, biomass including bagasse and industrial co-generation, waste-to-energy, ethanol, compressed biogas, hybrid RE, EEC and green-mobility. They also offer financial products and schemes for new and emerging RE technologies such as, biofuel, green hydrogen and its derivatives, battery energy storage systems, fuel cells, and hybrid RE projects.
  • They offer a comprehensive suite of financial products and services including various fund-based and non fundbased products. Some of their key fund-based products for RE developers are long-term, medium-term and shortterm loans (for projects, manufacturing and equipment financing), top-up loans, bridge loans, takeover financing, and loans against securitization of future cashflows. They also provide line of credit to other NBFCs for on-lending to RE and EEC projects. In addition, they provide loans to government entities and also provide financing schemes for RE suppliers, manufacturers and contractors. Their non fund-based products include letter of comfort, letter of undertaking, payment on order instruments and guarantee assistance schemes. Further, they provide consulting services on techno-commercial issues relating to the RE sector.
  • In addition to their financial products and services, they also have their own 50 MW Solar Photovoltaic Project at Kasaragod Solar Park in the State of Kerala. The project generates power which is injected into the grid of Kerala State Electricity Board.

Issue Size: Rs. 2150.21 crores

Employee Reservation: Up to Rs. 18,75,420 shares

Issue break-up:

  • QIB – 50% of the net offer – Rs. 1,072.11 crores
  • NIB – 15% of the net offer – Rs. 321.63 crores
  • RET – 35% of the net offer – Rs. 750.47 crores

Listing: BSE and NSE

Registrar: Link Intime India Pvt Ltd

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.


  • Application made using third party UPI or ASBA Bank A/c are liable to be rejected. 
  • The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e. Thursday, November 23, 2023     

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