November 28, 2023
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Ireda IPO GMP, Details & Review @ Chanakyanipothi.com
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Ireda IPO Post Listing Review:
The scrip is listed at Rs. 50 compared to the issue price of Rs. 32, above the expectations of the Grey market.
Why should you apply Ireda IPO? Review (to the point Guidance)
Ireda IPO last GMP
Grey Market Premium: Rs.12
Retail
Kostak Rs. 800
Subject to Rs. 4000
SHNI
Kostak Rs. 3000
Subject to Rs. 55000
BHNI
Kostak Rs. 12700
Subject to Rs. 55000
What is the Subscription Status of Ireda IPO?
On 23 November 2023 @ 3.00 (Day 3) (Closed)
Review: Strong oversubscription expected
QIB: 134013152 Shares 104.57 T
NII(10L+): 67006576 Shares 26.99 T
NII (<10L) 335003288 Shares 18.50 T
NII (Total) 100509864 Shares 24.16 T
RII: 234523015 Shares 7.73 T
Emp: 1875420 Shares 9.80 T
Total: 470921451Shares 38.80 T
Who is the promoter of Ireda IPO?
The PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF NEW AND RENEWABLE ENERGY, GOVERNMENT OF INDIA
What is the business of Ireda ?
Ireda is a wholly owned Government of India enterprise under the administrative control of the Ministry
of New and Renewable Energy. The Company was notified as a “Public Financial Institution”
under Section 4A of the Companies Act, 1956 by the Department of Company Affairs, Ministry of Law, Justice and Company Affairs, Government of India on October 17, 1995 and is registered with the Reserve Bank of India as a Systemically Important Non-Deposit-taking Non-Banking Finance Company, with Infrastructure Finance Company status. It was also conferred with the Mini Ratna
(Category I) status in June 2015 by the Department of Public Enterprises. Since Fiscal 2021, it has consistently been rated ‘Excellent’ by the MNRE in course of evaluation of its performance in achieving key targets.
It is a 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. It provides 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.
As of June 30, 2023, it had a diversified portfolio of Term Loans Outstanding, amounting to Rs. 472,066.63 million. It has consistently demonstrated strong growth and business performance while maintaining healthy asset quality, evidenced by the following key highlights.
For more information, click www.ireda.in
What is the object of Ireda IPO?
The object of the Offer is to carry out the Offer for Sale of up to 29,571,390 Equity Shares.
Ireda IPO Grey Market Premium
| Ireda IPO Details | |
| IPO opens on | 21 November,2023. |
| IPO closes on | 23 November,2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 671,941,177 Sh / Rs2150.21 Cr |
| * Fresh Issue | 403,164,706 Sh / Rs 1290.13 Cr |
| * Offer for Sale | 268,776,471 Sh / Rs 860.08 Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 30-32 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 460 Shares |
| Listing will at | BSE, NSE |
| Shares offered to | Shares | Rs. in Cr |
| QIB (50%) | 335032878 | 1072.11 |
| NII (15%) | 100509864 | 321.63 |
| RII (35%) | 234523015 | 750.47 |
| Employees | 1875420 | 6.00 |
| Total Shares | 671941177 | 2150.21 |
| Retail portion will be oversubscribed by | ? Forms. | |
| How to apply in ASK Automotive IPO ? | Rs. | |
| Min Retail Application | 460 Sh | 14720 |
| Max Retail Application | 5980 Sh | 19136- |
| Small HNI (Min) application | 6440 Sh | 206080 |
| Small HNI (Max) application | 30820 Sh | 986240 |
| Big HNI Application | 31280 Sh | 1000960 |
| What is the timetable of Ireda IPO? | |
| IPO opens on | 21 November 2023 |
| IPO Closes on | 23 November 2023 |
| IPO Allotment on | 29 November 2023 |
| Unblocking of ASBA | 30 November 2023 |
| Credit of Shares | 1 December 2023 |
| Listing on | 4 December 2023 |
| Registered Office of Ireda Ltd. | |
| India Habitat Centre, East Court, Core 4A, 1stFloor, Lodhi Road, New Delhi–110003, India3rdFloor, August Kranti Bhavan, Bhikaji Cama Place, New Delhi –110066, |
|
| Who are the Lead Managers of Ireda IPO? IDBI CAPITAL MARKETS & SECURITIES Ltd, BOB CAPITAL MARKETS Ltd, SBI CAPITAL MARKETS Ltd. |
|
| Registrar to IPO | |
| Link Intime India Private Limited |
| Ireda IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 2657.74 | 346 | 4.41 | 12.56 |
| 2021-22 | 2874.16 | 634 | 8.03 | 15.33 |
| 2022-23 | 3483.04 | 865 | 3.78 | 15.43 |
| Book Value of the Share on 31.03.2023 | Rs. | 25.98 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 32 | ||
| Ratio Analysis | |
| Upper Price /EPS | 8.46 |
| Upper Price/Book Value Ratio | 1.23 |
| Upper Price/BV after IPO | ? |
Ireda IPO GMP, Details & Review
Which are the companies which can be compared with Ireda ltd? Study Peer Comparison.
| As on date of RHP | Total Income Rs. | Face | PE |
| Income | Value | Ratio of | |
| Rs. In Cr | Rs | ||
| The IPO Company | ? | 10 | ? |
| REC ltd | ? | 10 | 5.81 |
| Power Finance Corp. ltd | ? | 10 | 4.52 |
| X | – | – | – |
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