IPO Corner: Indian Renewable Energy Development Agency Ltd.

Indian Renewable Energy Development Agency Limited, a Government of India enterprise notified as a Public Financial Institution registered as a Systemically Important Non-Deposit-taking Non-Banking Finance Company, with Infrastructure Finance Company status, has fixed the price band at ₹30 to ₹32 per Equity Share for its maiden initial public offer. The Initial Public Offering of the Company will open for public on Tuesday, November 21, 2023, for subscription and close on Thursday, November 23, 2023. Investors can bid for a minimum of 460 Equity Shares and in multiples of 460 Equity Shares thereafter. IREDA is the issuer of first debt security (green masala bond) in India listed on IFSC exchange.

• Opens on: Tuesday, November 21, 2023
• Offer Closes on: Friday, November 23, 2023
• Price Band: Rs 30 to Rs 32 per Equity Share
• Minimum Bids: 460 Equity Shares and in multiples

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. 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.