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

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

Meanwhile, ahead of the IREDA IPO opening date, the initial offering has gone gray market. According to market observers, shares of the India Renewable Energy Development Agency Ltd are available at a premium 9 in the gray market today.

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

Important details of IREDA IPO

Here we list important details of IREDA IPO:

1]IREDA GMP IPO today: The company’s shares are available at a premium 9 in the gray market today, say market observers.

2] IREDA IPO date: The public issue will open for subscription on 21 November 2023 and will remain open for tender until 23 November 2023.

3]IREDA IPO Price: The PSU has a fixed price band of book 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]Size of IREDA IPO: The government public limited company aims to raise 2,150.21 crore from its public offer.

6]IREDA IPO allotment date: As a result of the T+3 schedule, the tentative date for finalizing the share allocation is either 24 November 2023 or 27 November 2023. This means that the IREDA IPO allotment date could fall on next Friday or the Monday after the end of next week. .

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

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

9]Date of enrollment of IREDA: The public issue may be listed on 28 November 2023.

IREDA IPO: Apply or not?

10]IREDA IPO Recommendations: Whether to apply for IREDA IPO or not, Atul Parakh, CEO of Bigul said, “Among the five IPOs coming up on the main agenda next week, state-run IREDA on the radar of main market investors such as IREDA IPO. It is expected to bring 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 IPO company from LIC. , it has a certain credibility. The growth potential of the renewable energy sector is significant, but it is also subject to policy changes and technological advances, which may affect IREDA’s performance.”

Disclaimer: The above opinions and recommendations are the opinions and recommendations of individual analysts or brokerage firms, and are not the opinions of Mint. We encourage investors to check with certified experts before making any investment decision.

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Updated: 18 November 2023, 01:37 PM IST

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