GOING IPO: Subscription for initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) closed on Thursday. According to IREDA IPO subscription status, the public issue was subscribed 38.80 times while its retail portion was subscribed 7.73 times. After the T+3 schedule, the most likely IREDA IPO allotment date is November 28, 2023, if the share allotment is not announced today. Likewise, IREDA IPO listing date is most likely November 29, 2023 i.e. Wednesday next week.
Meanwhile, after a strong subscription status of IREDA IPO, gray market went more bullish on the public offering. According to market observers, shares of IREDA Ltd are available at a premium of ₹13 in gray market today.
Market observers said that IREDA IPO received a strong response from investors and this could be the possible reason for an increase in gray market sentiments regarding the book building issue. They said IREDA IPO GMP rose from ₹7 to ₹13 in last one week which speaks volumes about the buzz related to IREDA IPO in primary market. They said gray market turned bullish despite uneasy sentiments on Dalal Street in the past week. They predicted further improvement in IREDA IPO if there is a trend rversal on Dalal Street when Indian stock market opens on Tuesday after stock market holiday falling on Monday.
Read also: Tata Technologies IPO: GMP jumps after strong subscription status
However, stock market experts claimed that GMP is not an ideal indicator of IPO success or failure. They advised bidders and market investors to follow the fundamentals and trust the company’s balance sheet. They went on to add that the gray market is unregulated and completely speculative because it has no connection with the company’s finances.
After three days of offering from November 21 to November 23, 2023, IREDA IPO subscription status suggests that the public issue was subscribed 38.80 times while its retail portion was subscribed 7.73 times. QIBs led from the front as QIB portion was subscribed 104.57 times, Non-Institutional Investors or NII portion was subscribed 24.16 times, while employee portion was subscribed 9.80 times.
Once share allotment is announced, bidders will be able to check IREDA IPO allotment status online by logging on to the BSE website or the website of its official registrar — Link Intime Private Limited. For more convenience, investors can login at direct BSE link – bseindia.com/investors/appli_check.aspx or at direct Link Intime portal – linkintime.co.in/mipo/ipoallotment.html and check IREDA IPO status.
IREDA IPO allotment status BSE
1) Login at direct BSE link — bseindia.com/investors/appli_check.aspx;
2) Select IREDA IPO;
3) Enter IREDA IPO application number;
4) Enter your PAN details;
5) Click on ‘I’m not a robot’; and
6) Click the ‘Submit’ button.
Your IREDA IPO allocation status will be available on the computer screen or on the Smartphone screen.
IREDA IPO allocation status Linkintime
1) Login at direct Link Intime web link — linkintime.co.in/MIPO/Ipoallotment.html;
2) Select IREDA IPO;
3) Enter your PAN details; and
4) Click on the ‘Search’ option.
Your IREDA IPO allotment status is soon available on the computer screen or on the Smartphone screen.
Milestone Warning!Livemint tops charts as the fastest growing news site in the world 🌏 Click here to know more
Catch all Business News, Market News, Breaking News and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More or less
Updated: 25 Nov 2023, 09:39 IST