IPO : Indian Renewable Energy Development Agency Ltd
|ISSUE TYPE||Book Built Issue IPO|
|ISSUE OPENS ON||Tuesday, November 21, 2023|
|ISSUE CLOSES ON||Thursday, November 23, 2023|
|ISSUE PRICE||₹30 to ₹32 per share|
|ISSUE SIZE||Up to Rs.1,290.13 Crores|
|FACE VALUE||Rs.10 per share|
IREDA IPO is a book built issue of Rs 2,150.21 crores. The issue is a combination of fresh issue of 40.32 crore shares aggregating to Rs 1,290.13 crores and offer for sale of 26.88 crore shares aggregating to Rs 860.08 crores.
IREDA IPO opens for subscription on November 21, 2023 and closes on November 23, 2023. The allotment for the IREDA IPO is expected to be finalized on Wednesday, November 29, 2023. IREDA IPO will list on BSE, NSE with tentative listing date fixed as Monday, December 4, 2023.
|MINIMUM BID||460 shares|
|MAXIMUM BID||5980 shares|
|PROMOTER HOLDING||75 % (Post-issue)|
|LISTING DATE||Monday, December 4, 2023|
|LISTING AT||BSE, NSE|
IREDA IPO price band is set at ₹30 to ₹32 per share. The minimum lot size for an application is 460 Shares. The minimum amount of investment required by retail investors is ₹14,720. The minimum lot size investment for sNII is 14 lots (6,440 shares), amounting to ₹206,080, and for bNII, it is 68 lots (31,280 shares), amounting to ₹1,000,960.
Objects of the Issue (IREDA IPO Objectives)
The Offer comprises the Fresh Issue and the Offer for Sale. The company will not receive any proceeds from the Offer for Sale. Further, the proceeds of the Offer for Sale shall be received by the Promoter Selling Shareholder and will not form part of the Net Proceeds. The company intends to utilize the net proceeds for the following objects:-
- Augmenting the capital base to meet future capital requirements and onwardlending.
- The Company expects to receive the benefits of listing the Equity Shares on the Stock Exchanges, including enhancing the brand image among existing and potential customers and creating a public market for the Equity Shares in India.
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