GOING IPO: The initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) opens on November 21, 2023 i.e. Tuesday next week. The public issue is valuable ₹2,150.21 crore will remain open for subscription till November 23, 2023. Therefore, the IREDA IPO subscription date has been fixed from Tuesday to Thursday next week. The PSU has set an IREDA IPO price band at ₹30 to ₹32 per equity share and the book building issue is proposed for listing on BSE and NSE.
Meanwhile, before the opening date of IREDA IPO, gray market became bullish on the initial offer. According to market watchers, shares of the Indian Renewable Energy Development Agency Ltd are available at a premium of ₹9 in gray market today.
Read also: Tata Technologies IPO vs IREDA IPO vs Gandhar Oil Refinery IPO: Which upcoming IPO is better?
Important IREDA IPO details
Here we list important details about IREDA IPO:
1) IREDA IPO GMP today: Shares of the company are available at a premium of ₹9 in gray market today, say market watchers.
2) IREDA IPO date: The public issue will open for subscription on November 21, 2023 and it will remain open for bidding until November 23, 2023.
3) IREDA IPO price: The PSU set a price band of the book building problem at ₹30 to ₹32 per share.
4) Size of IREDA IPO: Bidder will be able to apply in lots and one lot of the IPO consists of 460 company shares.
Read also: Tata Tech IPO: GMP jumps as issue opens next week. Date, price, other details
5) IREDA IPO size: The public limited government company aims to raise Rs 2,150.21 crore from its public offer.
6) Date of IREDA IPO: In the wake of T+3 schedule, the tentative date for finalization of share allotment is either November 24, 2023 or November 27, 2023. This means that IREDA IPO allotment date may fall on either Friday next week or on a Monday falling after the end of the next week. .
7) Investment limit of IREDA IPO: How IREDA IPO price band is ₹30 to ₹32 per share and one lot consists of 460 company shares. Minimum amount required for a retail investor to apply for the IPO is ₹14,720 ( ₹32 x 460).
8) List of IREDA IPO: The public issue of the government limited company is proposed for listing on BSE and NSE.
9) Date of IREDA list: The public number can be listed on 28 November 2023.
IREDA IPO: To apply or not?
10) IREDA IPO Recommendations: On whether to apply for the IREDA IPO or not, Atul Parakh, CEO at Bigul said, “Among five main board upcoming IPOs next week, state-owned IREDA will be on radar of primary market investors as IREDA IPO is expected to yield good listing gains and may also be a long-term investment candidate.”
Advising investors to apply for the upcoming IPO, Sonam Srivastava, Founder and Fund at Wright Research said, “IREDA’s focus on renewable energy financing is timely, aligning with the global shift towards sustainable energy. As the first government-controlled company IPO since LIC. , it carries a certain credibility. The growth potential of the renewable energy sector is significant, but it is also subject to political changes and technological advances that could affect IREDA’s effectiveness.”
Disclaimer: The views and recommendations made above are those of individual analysts or trading companies, and not of Mint. We advise investors to check with certified experts before making any investment decision.
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Updated: 18 Nov 2023, 13:37 IST
(tagsTo Translate)IREDA IPO