Motilal Oswal IPO report on Indian Renewable Energy Development Agency
India’s largest pure-play green financing NBFC: IREDA is a wholly owned GoI enterprise with over 36 years of experience in extending green financial assistance. It offers comprehensive suite of financial products for Renewable Energy projects (RE; sectors like Solar, Hydro, Wind, Ethanol, etc), & emerging technologies (EV, Green Hydrogen, Fuel Cells, etc). As of 2QFY24, its O/s loan portfolio stands at ₹ 475bn.
Valuation and Outlook
This along with lowest cost of funding and stringent corporate governance provides IREDA a competitive edge. The stock is attractively priced at 1.0x 1HFY24 P/BV (on an annualized & diluted basis). Hence, we recommend Subscribe.
For all IPO report, click here
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21112023 - Indian Renewable Energy Development Agency -IPO - moti
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