Share of government company Indian Renewable Energy Dev Agency Ltd (NSE: IREDA) has made investors rich in just 2 months. IREDA’s IPO came 2 months ago for Rs 32. Shares of this company have exceeded Rs 195.
IREDA shares have increased by almost 500% from their issue price. Market experts say that the shares of government company IREDA may rise further. Shares of the company can reach the level of Rs 322 in the coming months.
Shares Reached Rs 195 From The Rs 32
Price band for the Indian Renewable Energy Development Agency Limited (IREDA) IPO was between Rs 30 and Rs 32. Its IPO was opened for registration on the 21st of November 2023, and it was open until the 23rd of November.
IREDA shares have been allotted at Rs 32 in the IPO. IREDA shares were listed at Rs 50 on November 29.
Since the listing, there has been a strong rise in the shares of IREDA and now the shares of the company have reached Rs 195.05.
IREDA share prices are available on Bombay Stock Exchange and National Stock Exchange platforms.
Company Share May Be As High As Rs 240
An Research Analyst of a brokerage firm says that just after the consecration of life in the Ram temple, PM Narendra Modi announced the Pradhan Mantri Suryodaya Yojana.
Under this scheme, rooftop solar panels will be installed in 1 crore houses. IREDA will benefit from this project.
Shares of government company IREDA may go up to Rs 240 in the coming months. It is essential to keep the stop loss level at Rs. 139.
IREDA’s IPO was subscribed a total of 38.80 times. The retail quota for investors participating in this company’s IPO has been signed up to 7.73 many times.
About IREDA Company
IREDA ranks among the top five power sector financing NBFCs, specializing in renewable energy financing.
In addition, IREDA was the first company in India to issue green masala bonds; additionally, it is also the largest credit provider to RE sectors other than conventional energy.
IREDA is a state-owned business under the supervision of the Ministry of New and Renewable Energy (MNRE) that is pioneering innovative ways to finance renewable energy projects, as well as conservation and energy efficiency initiatives.
India’s first dedicated non-banking green financing company with loan portfolios covering solar power, wind power, biomass power, and hydropower generation among many others.
Fundamental Analysis of IREDA
| Market Cap | ₹ 52,425 Cr. |
| Current Price | ₹ 195 |
| 52-wk High | ₹ 195 |
| 52-wk Low | ₹ 50.0 |
| Stock P/E | 38.73 |
| Book Value | — |
| Dividend | 0.00 % |
| ROCE | 8.17 % |
| ROE | 15.4 % |
| Face Value | ₹ 10.0 |
| P/B Value | — |
| OPM | 93.4 % |
| EPS | ₹ 3.78 |
| Debt | ₹ 40,165 Cr. |
| Debt to Equity | 6.77 |
IREDA Share Price Target 2024 To 2030
| Year | 1st Target | 2nd Target |
| 2024 | ₹ 165 | ₹ 231 |
| 2025 | ₹ 235 | ₹ 280 |
| 2026 | ₹ 310 | ₹ 375 |
| 2027 | ₹ 450 | ₹ 505 |
| 2028 | ₹ 680 | ₹ 720 |
| 2029 | ₹ 755 | ₹ 810 |
| 2030 | ₹ 1000 | ₹ 1200 |
IREDA Shareholding Pattern
| Promoters Holding | |
| Dec 2023 | 75.00% |
| Public Holding | |
| Dec2022 | 18.75% |
IREDA Share: Last 5 Years’ Financial Condition
To gain a better understanding of how the market is performing, let’s look at the outlook of this share in the previous years.
However, investors should be aware of the risks and the market conditions before making any investment decision.
Last 5 Years’ Sales:
| 2019 | ₹ 2,020 Cr |
| 2020 | ₹ 2,368 Cr |
| 2021 | ₹ 2,655 Cr |
| 2022 | ₹ 2,860 Cr |
| 2023 | ₹ 3,483 Cr |
Last 5 Years’ Net Profit:
| 2019 | ₹ 250 Cr |
| 2020 | ₹ 215 Cr |
| 2021 | ₹ 346 Cr |
| 2022 | ₹ 634 Cr |
| 2023 | ₹ 865 Cr |
Last 5 Years’ Debt-To-Equity Ratio:
| 2019 | 4.29 |
| 2020 | 8.61 |
| 2021 | 7.8 |
| 2022 | 3.37 |
| 2023 | 6.77 |
Last 10 Years’ Profit Growth:
| 10 Years: | — |
| 5 Years: | — |
| 3 Years: | 59% |
| Current Year: | 36% |
Last 10 years’ Return on Equity (ROE):
| 10 Years: | — |
| 5 Years: | — |
| 3 Years: | 15% |
| Current Year: | 15% |
Last 10 Years’ Sales Growth:
| 10 Years: | – |
| 5 Years: | – |
| 3 Years: | 14% |
| Current Year: | 22% |
Conclusion
This article is a complete guide about Indian Renewable Energy Dev Agency Ltd (IREDA) Share.
These information and forecasts are based on our analysis, research, company fundamentals and history, experiences, and various technical analyses.
Also, We have talked in detail about the share’s future prospects and growth potential.
Hopefully, these informations will help you in your further investment.
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