[.]| Listing at BSE | Fri, Jan 8, 2016 - Fri, Jan 22, 2016
Indian Renewable Energy Development Agency Ltd. NCD issue is a public issue of , issued under a Shelf Prospectus of ₹[.] Cr with a base issue size of ₹1,716.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a tranch issue size of ₹[.] Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
Indian Renewable Energy Development Agency Ltd. NCD issue opens on Jan 8, 2016 and closes on Jan 22, 2016. NCD are proposed to be listed on BSE.
The minimum lot size is 5 NCDs, requiring a minimum investment of ₹ 5,000 , while the market lot for trading is 5 NCD(s).
The issue offers interest rates ranging from per annum to per annum, depending on the series and tenure selected.
A.K.Capital Services Ltd. is the Lead Manager to the issue, is the Debenture Trustee, and Kfin Technologies Ltd. is the Registrar to the Issue.
Investors are advised to refer to the [.] for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Fri, Jan 8, 2016
Close Date
Fri, Jan 22, 2016
Issue Size (Overall)
[.]
Indian Renewable Energy Development Agency Limited (IREDA) is registered as a systematically important non deposit taking NBFC. It is set up by Govt. of India under the administrative control of MNRE to promote, develop and extend financial assistance for renewable energy and energy efficiency projects.
The Union cabinet, in an ambitions push for solar energy has revised the cumulative target of grid Connected Solar Projects under Jawaharlal Nehru National Solar Mission (JNNSM) from 20,000 MW by 2021- 22 to 100,000 MW solar capacity by 2021-22. JNNSM will create an enabling policy framework to achieve this objective and make India a global leader in solar energy. The target of 100,000 MW will be met through 40,000 MW of rooftop solar projects and 60,000 MW of large and medium-scale grid-connected projects.
The proceeds of Issue may be utilized towards financing renewable energy and energy efficiency projects and augmenting their resource base.
These bonds carries coupon rates of 7.28% (10 yrs), 7.49% (15 yrs) and 7.43% (20 yrs) for category I, II and III (i.e. non-retails) and for retail it offers 7.53% (10 yrs), 7.74% (15 yrs) and 7.68% (20 yrs). Interest payment will be done annually.
IREDA Tax Free Bonds gets overwhelming response on day one of subscription and is now stands closed.
On the base size of Rs. 1000 crore it is oversubscribed 5.09 times with a total subscription of 5092 crore with QIB 10.48 times, Corporates 5.16 times, HNI 3.51 times and Retail 3.13 times.
On the aggregate basis the issue is subscribed 2.97 times with Retail above 1.8 times.
[Dilip Davda] As the rating of this offer is AA+ (lower than last four TFB issues by other PSUs), its coupon rates are little higher and thus appears lucrative. Investors may consider investment for long term tax free interest income.
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Indian Renewable Energy Development Agency Ltd.
India Habitat Centre,
Core 4 ‘A’, 1st Floor,
Lodhi Road, New Delhi - 110003
New Delhi, New Delhi, 110003
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem Indian Renewable Energy Development Agency Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
