Bhubaneswar(20/11/2023): Indian Renewable Energy Development Agency Limited, a
Government of India (“GoI”) enterprise notified as a “Public Financial Institution” (“PFI”) registered as
a Systemically Important Non-Deposit-taking Non-Banking Finance Company (a “NBFCND-SI”), with
Infrastructure Finance Company (“IFC”) status, has fixed the price band at Rs 30 to Rs 32 per Equity Share
for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Offer”) of the Company will
open for public on Tuesday, November 21, 2023, for subscription and close on Thursday, November
Investors can bid for a minimum of 460 Equity Shares and in multiples of 460 Equity Shares
The Offer comprises of fresh issuance of Equity Shares up to 403,164,706 equity shares and an Offer
for Sale (OFS) of up to 268,776,471 equity shares aggregating to up to 671,941,177equity shares.
IREDA is a financial institution with over 36 years of experience in promoting, developing and
extending financial assistance for new and renewable energy projects, and energy efficiency and
It provides a comprehensive range of financial products and related services,
from project conceptualisation to post-commissioning, for renewable energy projects and other value
chain activities, such as equipment manufacturing and transmission.
It is also India's largest pure-play green financing NBFC in India.
IREDA is the issuer of first debt security
(green masala bond) in India listed on IFSC exchange.
IREDA is the first financial institution in India to
raise green masala bonds IREDA is among the first financial institution to raise global funds for climate
financing from DFIs / multilaterals in India.
It has a geographically diversified portfolio, with Term Loans Outstanding across 23 States and five
Union Territories across India, as of September 30, 2023, and has four strategically located branches
in Mumbai, Hyderabad, Chennai, and Bhubaneswar to maximize geographical range in terms of
IREDA also extends lines of credit to other non-banking financial companies (NBFCs) for lending to RE
and EEC projects.
Additionally, it offers loans to government entities and financing schemes for RE
suppliers, manufacturers, and contractors, while non-fund-based products comprise instruments like
letters of comfort, letters of undertaking, payment on order instruments, and guarantee assistance
Furthermore, it provides consultancy services on techno-commercial issues related to the
As of September 30, 2023, it had a diversified portfolio of term loan outstanding amounting to Rs 475,144.8 million.
For the fiscal year 2023, the net interest income increased to Rs 13,237.65 million against Rs 11,280.44
million a year ago.
Net profit increased from Rs 6,335.28 million in fiscal 2022 to Rs 8,646.28 million
in fiscal 2023.
Capital to risk-weighted asset ratio (“CRAR”) stood at 18.82% for Fiscal 2023 and for the
six months ended September 30, 2023, it was 20.92%.
For the six months ended September 30, 2023, Net Interest Income stood at Rs 7,854.23 million, and
profit after tax was Rs 5,793.15 million.
For the same period, IREDA sanctioned total loans amounting
to Rs 47,445.03 million.
IDBI Capital Markets & Securities Limited, BOB Capital Markets Limited, and SBI Capital Markets
Limited are the book-running lead managers and Link Intime India Private Limited is the registrar to
The equity shares are proposed to be listed on BSE and NSE.