Wednesday, November 29, 2023

Indian Renewable Energy Development Agency Limited IPO makes a remarkable debut on the exchange; lists at 56% premium

After IRCTC, IREDA stands as the second most successful PSU to be listed.

Mumbai, November 29, 2023: Shares of Indian Renewable Energy Development Agency Limited made a remarkable debut on the exchange listing at a 56% premium.

The scrip listed Rs 50 per share on BSE and NSE respectively, at a premium of 56.25%. The company's share price closed at Rs 59.99 per share on the BSE, a 87.47% premium, and at Rs 60 per share on the NSE, a 87.50% premium.

As per NSE, the total quantity traded stood at 5798.10 lakh shares, on BSE the total Quantity stood at 381.55 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 3393.13 crore. 

Shri. Pradip Kumar Das – CMD – Indian Renewable Energy Development Agency Limited said "I extend my heartfelt gratitude to all the investors who have placed their trust in Indian Renewable Energy Development Agency Limited. Your support fuels our commitment to drive renewable energy growth and sustainability. We embark on this new chapter with enthusiasm, aiming to create lasting value for our stakeholders. Thank you for joining us on this transformative journey towards a greener future." 

The Market Capitalization of the Company at today’s closing price stood at Rs. 16123.90 Crore as per BSE and Rs. 16126.59 Crore as per NSE.

The company had offered Rs 2150-crore issue for subscription from November 21 to November 23. This garnered substantial interest, and the offer was subscribed 38.80 times. Qualified Institutional Buyer Portion was subscribed 104.57 times, Non-Institutional Investors Portion subscribed 24.16 times, whereas Employee Portion was subscribed 9.76 times and Retail Portion was subscribed 7.72 times. 

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. 

It 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 conservation projects. 

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.

IDBI Capital Markets & Securities Limited, BOB Capital Markets Limited, and SBI Capital Markets Limited are the book-running lead managers.

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