The Indian Renewable Energy Development Agency (IREDA) is gearing up to go public with its Initial Public Offering (IPO) following in the footsteps of the Life Insurance Corporation of India.
IREDA has officially submitted its documents to the Securities and Exchange Board of India (SEBI), including the Draft Herring Prospectus (DHRP).
Share Sale Details
In this IPO, a total of 67.19 crore equity shares will be offered, with 40.31 crore fresh shares being issued.
The Government of India plans to sell 26.88 crore shares through the Offer for Sale (OFS) mechanism.
Reason for the IPO
The funds raised from the sale of fresh shares in the IPO will directly benefit the company.
This capital infusion will enable IREDA to meet its future financial needs and bolster its capital base.
IREDA serves as an infrastructure finance company, specializing in providing financial support for renewable energy projects.
Leading the way in managing the IPO are BOB Capital Markets, SBI Capital Markets, and IDBI Capital Markets & Securities.
The Indian Renewable Energy Development Agency (IREDA) is gearing up to go public with its Initial Public Offering (IPO) following in the footsteps of the Life Insurance Corporation of India.
IREDA has officially submitted its documents to the Securities and Exchange Board of India (SEBI), including the Draft Herring Prospectus (DHRP).
Share Sale Details
In this IPO, a total of 67.19 crore equity shares will be offered, with 40.31 crore fresh shares being issued.
The Government of India plans to sell 26.88 crore shares through the Offer for Sale (OFS) mechanism.
Reason for the IPO
The funds raised from the sale of fresh shares in the IPO will directly benefit the company.
This capital infusion will enable IREDA to meet its future financial needs and bolster its capital base.
IREDA serves as an infrastructure finance company, specializing in providing financial support for renewable energy projects.
Leading the way in managing the IPO are BOB Capital Markets, SBI Capital Markets, and IDBI Capital Markets & Securities.
Financial Snapshot
IREDA’s term loan compound annual growth rate (CAGR) has increased from Rs 47,075.50 crore in FY 2021-23 to Rs 47,206.66 crore by the June quarter of FY 24.
In terms of total profit, there has been notable growth, with the CAGR surging to Rs 864.63 crore between FY 21-23, compared to Rs 294.6 crore in the last quarter.
Interest income has also seen a substantial increase, reaching Rs 1,323.8 crore in FY 2023, reflecting a 17.4 percent rise. In the first quarter of FY 24, the income stood at Rs 383 crore.
IREDA’s term loan compound annual growth rate (CAGR) has increased from Rs 47,075.50 crore in FY 2021-23 to Rs 47,206.66 crore by the June quarter of FY 24.
In terms of total profit, there has been notable growth, with the CAGR surging to Rs 864.63 crore between FY 21-23, compared to Rs 294.6 crore in the last quarter.
Interest income has also seen a substantial increase, reaching Rs 1,323.8 crore in FY 2023, reflecting a 17.4 percent rise. In the first quarter of FY 24, the income stood at Rs 383 crore.
