Indian Renewable Energy Development Agency Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Indian Renewable

CMP

64.20

+0.05 (0.08%)

  • DRHP
₹32

Offer Price

₹ 2,150.21 Cr

Issue Size

₹ 14,720

Min Investment

38.80x

Times Subscribed

460

Lot size

Time Line

  • 21
    Nov 2023
    Open
  • 23
    Nov 2023
    Close
  • 28
    Nov 2023
    Finalisation of Basis of Allotment
  • 28
    Nov 2023
    Initiation of Refunds
  • 29
    Nov 2023
    Transfer of Shares to Demat Account
  • 29
    Nov 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Maintain its leadership in RE sectors such as solar, wind, hydro power and biomass, biofuels and cogeneration.

  • Leverage its industry expertise to enhance its presence in new and emerging green technologies.

  • Optimize borrowing costs to enhance competitiveness and profitability.

  • Streamline operating model to continue to support non-linear growth.

  • Continue to focus on the Environmental and Social Management System.

Strengths

  • Track record of growth, geared towards high quality assets, diversified asset book and stable profitability.

  • Strategic role in Government of India initiatives in the Renewable Energy sector.

  • Established and trusted brand name operating in a rapidly expanding sector.

  • Digitized process for borrower centricity and operational scalability, with presence across India.

  • Comprehensive data-based credit appraisal process and risk-based pricing, with efficient post-disbursement project monitoring and recovery processes.

Risks

  • Its business and financial performance could suffer if the company is unable to effectively manage the quality of its growing asset portfolio and control the level of the company non-performing assets ("NPAs").

  • Volatility in interest rates could adversely affect its business, net interest income and net interest margin, which in turn would adversely affect the company`s business, results of operations and financial condition.

  • Its may be unable to secure borrowings on commercially acceptable terms and at competitive rates, which could adversely affect its business, results of operations and financial condition.

  • Projects and schemes for generating electricity and energy through renewable sources like solar, wind, hydro, biomass, waste-to-energy and new and emerging technologies have inherent risks and, to the extent they materialize, could adversely affect its business, results of operations and financial condition.

  • The COVID-19 has had, and a similar pandemic could have, certain adverse effects on its business, operations, cash flows and financial condition.

Company Promoters

Promoters Holding

Issue For IPO
100.00%
Pre Holding

100.00%

Post Holding

-

Top Promoters Holding

Financials

All values in Cr

Mar-2019 Mar-2020 Mar-2021 3-Yr trend
Revenue 2,020.41 (11.60%) 2,368.90 (17.30%) 2,614.19 (10.40%)
Gross Profit 2,020.41 (11.60%) 2,368.90 (17.30%) 2,614.19 (10.40%)
Net Income 2,020.41 (11.60%) 2,368.90 (17.30%) 2,614.19 (10.40%)
Assets 2,020.41 (11.60%) 2,368.90 (17.30%) 2,614.19 (10.40%)
Liabilities 2,020.41 (11.60%) 2,368.90 (17.30%) 2,614.19 (10.40%)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Indian Renewable Energy Development Agency Ltd 3,482.92 864.63 46,100.45 40,165.28 15.43 0.00 25.98 0.87 0.87
REC Ltd 39,478.26 11,166.98 465,502.75 465,502.75 19.41 42.28 218.47 2.39 6.62
Power Finance Corporation Ltd 77,568.30 15,889.33 896,111.86 896,111.86 18.88 60.19 424.16 1.77 8.93

Book Running Managers

  • IDBI Capital Markets & Securities Ltd
  • BOB Capital Markets Ltd
  • SBI Capital Markets Ltd

Registrar & Transfer Agent

Link Intime India Pvt Ltd

C-101 247 Park,
L B S Marg,
Vikhroli West - Mumbai-400083
Phone : 91-22-49186000 Fax: 91-22-49186060

Company Contact Information

India Habitat Centre 1st Floor,
East Court Core-4 A Lodhi Road,
New Delhi - 110003
Phone : +91 11 2468 2214 Email : equityinvestor2023@ireda.in www.ireda.in

Offer Related Information

Initial public offer of 671,941,177* equity shares of face value of Rs. 10 each ("Equity Shares") of Indian Renewable Energy Development Agency Limited (the "Company" or the "Issuer") for cash at a price of Rs. 32 per equity share (including a premium of Rs. 22 per equity share) ("Offer Price") aggregating to Rs. 2150.21 crores*, comprising a fresh issue of 403,164,706* equity shares aggregating to Rs. 1290.13 crores* by the company (the "Fresh Issue") and an offer for sale of 268,776,471*... More

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