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Indian Renewable Energy Development Agency Ltd.
*For category IV - Tranche I series IIB & IIIB option for 15 & 20 years
Issue Highlights:
| Issue Opens | Monday, February 17, 2014 | Minimum Application | 5 Bonds (Rs. 5,000) (Individually or collectively, across all series of Bonds) |
| Issue Closes | Monday, March 10 , 2014 | Annualized Yield (Retail - Category IV) |
8.41% p.a Tranche I series IB for 10 yrs 8.80% p.a Tranche I series IIB for 15 yrs 8.80% p.a Tranche I series IIIB for 20 yrs |
| Issue Price | Rs. 1,000/- per Bond | Credit Ratings | "BWR AAA” By BRICKWORK "CARE AAA" By CARE |
Business Overview:
We are a non-banking financial institution registered with RBI under the RBI Act, 1934 engaged in extending financing services to projects and schemes for generating electricity and energy through renewable sources and conserving energy through energy efficiency. We were incorporated on March 11, 1987 as a public limited company under the Companies Act, 1956 and received a certificate for commencement of business on March 21, 1987. Our Company was set up by GoI under the administrative control of MNRE to promote, develop and extend financial assistance for renewable energy and energy efficiency projects. Further, our Company has been notified as a ‘Public Financial Institution’ by the MCA, through a notification (No. 10/37/94-CL.V) dated October 18, 1995. As of December 31, 2013, we operate through branch offices located at Chennai and Hyderabad and camp offices located at Kolkata and Ahmedabad on let out basis and we do not own such premises.
We are primarily engaged in providing finance to specific projects and schemes for generation of energy through new and renewable sources of energy. Our Company provides financial assistance to the following renewable and energy efficiency projects: Wind Power, Hydro Power, Biomass Power Co-generation, Energy Efficiency & Conservation, Solar Energy, Waste to Energy & Miscellaneous.
Issue Highlights:
| Issue Opens | Monday, February 17, 2014 |
| Issue Closes | Monday, March 10 , 2014 |
| Issue Price | Rs. 1,000/- per Bond |
| Face Value | Rs. 1,000/- per Bond |
| Minimum Application | 5 Bond (Rs. 5,000) (Individually or collectively, across all series of Bonds) |
| Rating | "BWR AAA” By BRICKWORK, "CARE AAA" By CARE |
| Listing On | NSE and BSE |
| Registrar | Link Intime India Private Limited |
| Issue Size | Rs. 500 crore with an option to retain oversubscription upto Rs. 500 crore aggregating to Rs. 1,000 crore |
| Annualized Yield (Retail - Category IV) |
8.41% p.a Tranche I series IB for 10 yrs 8.80% p.a Tranche I series IIB for 15 yrs 8.80% p.a Tranche I series IIIB for 20 yrs |
| Annualized Yield (Non Retail - Category I, II and III) |
8.16% p.a Tranche I series IA for 10 yrs 8.55% p.a Tranche I series IIA for 15 yrs 8.55% p.a Tranche I series IIA for 20 yrs |
Allotment is on First Come First Serve Basis
Specific terms for each series of Bonds
| Options / Series | Tranche I Series IA | Tranche I Series IIA | Tranche I Series IIIA |
| Coupon rate p.a. for Category I, II, and III | 8.16% | 8.55% | 8.55% |
| Annualized yield p.a. for Category I, II & III | 8.16% | 8.55% | 8.55% |
| Options / Series | Tranche I Series IB | Tranche I Series IIB | Tranche I Series IIIB |
| Coupon Rate p.a. for Category IV | 8.41% | 8.80% | 8.80% |
| Annualized yield p.a. for Category IV | 8.41% | 8.80% | 8.80% |
| Frequency of Interest Payment | Annual | Annual | Annual |
| Minimum Application | 5 Bonds (Rs. 5,000) (Individually or collectively, across all series of Bonds) | ||
| In Multiples of | One Bond (Rs. 1,000/-) | ||
| Face Value | Rs. 1,000/- | ||
| Issue Price | Rs. 1,000/- | ||
| Tenor | 10 Years | 15 Years | 20 Years |
| Redemption Date | At the end of 10 Years from the Deemed Date of Allotment | At the end of 15 Years from the Deemed Date of Allotment | At the end of 20 Years from the Deemed Date of Allotment |
| Redemption Amount (Rs./Bond) | Repayment of the face value amount of Bonds plus any interest at the applicable coupon/ interest rate that may have accrued on the Maturity Date/Redemption Date | ||
Click here to download the prospectus of this Bond Issue.
Who Can Apply
| Categories | Reservation for Categories | Basis of allocation incase of over subscription | |
| Category I: (QIB Portion) |
|
10% of Overall Issue Size | On first-come-first-serve basis |
| Category II: (Corporate Portion)* |
* The MCA has, through its circular (General Circular No. 06/2013) dated March 14, 2013, clarified that in cases where the effective yield (effective rate of return) on tax free bonds is greater than the prevailing bank rate, there shall be no violation of Section 372A(3) of the Companies Act, 1956. |
20% of Overall Issue Size | On first-come-first-serve basis |
| Category III: (HNI Portion) |
The following Investors applying for an amount aggregating to above ` 10 lakhs across all Series of Bonds in each Tranche Issue:
|
30% of Overall Issue Size | On first-come-first-serve basis |
| Category IV: (Retail Portion) Individual Investor |
The following investors applying for an amount aggregating upto and including ` 10 lakhs across all Series of Bonds in each Tranche Issue:
|
40% of Overall Issue Size | On first-come-first-serve basis |
4 Easy Ways to Apply
Apply on Website
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- Click on 'IPO' tab
- Click on Order IPO
- Click on Apply button next to the IREDA Bond option you wish to apply.
- Enter relevant details like quantity and price and hit the 'Submit' button.
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- Post your confirmation, order will be placed successfully
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