IREDA IPO: GMP, price, lot size, other details of upcoming IPO. Check experts’ recommendations

IREDA IPO: The initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) is opening on 21st November 2023 i.e. on Tuesday next week. The public issue worth 2,150.21 crore will remain open for subscription till 23rd November 2023. Hence, IREDA IPO’s date of subscription has been fixed from Tuesday to Thursday next week. The PSU has fixed IREDA IPO price band at 30 to 32 per equity share and the book build issue is proposed for listing on BSE and NSE.

Meanwhile, ahead of IREDA IPO’s date of opening, grey market has gone bullish on the initial offer. According to market observers, shares of the Indian Renewable Energy Development Agency Ltd are available at a premium of 9 in grey market today.

Also read: Tata Technologies IPO vs IREDA IPO vs Gandhar Oil Refinery IPO: Which upcoming IPO is better?

Important IREDA IPO details

Here we list out important IREDA IPO details:

1] IREDA IPO GMP today: Shares of the the company are available at a premium of 9 in grey market today, say market observers.

2] IREDA IPO date: The public issue will open for subscription on 21st November 2023 and it will remain open for bidding till 23rd November 2023.

3] IREDA IPO price: The PSU has fixed price band of the book build issue at 30 to 32 per share.

4] IREDA IPO lot size: A bidder will be able to apply in lots and one lot of the IPO comprises 460 company shares.

Also read: 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 2,150.21 crore from its public offer.

6] IREDA IPO allotment date: In the wake of T+3 schedule, the tentative date for finalisation of share allocation is either 24th November 2023 or 27th November 2023. This means IREDA IPO allotment date may fall either on Friday next week or on Monday falling after the end of next week.

7] IREDA IPO investment limit: As IREDA IPO price band is 30 to 32 per share and one lot comprises 460 company shares. Minimum amount required for a retail investor to apply for the IPO is 14,720 ( 32 x 460).

8] IREDA IPO listing: The public issue of the public limited government company is proposed for listing on BSE and NSE.

9] IREDA listing date: The public issue may list on 28th November 2023.

IREDA IPO: Apply or not?

10] IREDA IPO recommendations: On whether one should apply for the IREDA IPO or not, Atul Parakh, CEO at Bigul said, “Among five mainboard upcoming IPOs next week, state-run IREDA will be on radar of primary market investors as IREDA IPO is expected to give good listing gains and can also be a long-term investment candidate.”

Advising investors to apply for the upcoming IPO, Sonam Srivastava, Founder & Fund Manager 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-run company IPO since LIC, it carries a certain credibility. The renewable energy sector’s growth potential is significant, but it’s also subject to policy changes and technological advancements, which could influence IREDA’s performance.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

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Updated: 18 Nov 2023, 01:37 PM IST

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