IREDA IPO: GMP, price, lot size, more details about the upcoming IPO. Check out expert recommendations

CREATE POSITION: The initial public offering (IPO) of the Indian Renewable Energy Development Agency (IREDA) will begin on November 21, 2023, which is Tuesday next week. Worth the public issue ₹2,150.21 crore remains open for subscription till November 23, 2023. Therefore, the subscription date of the IREDA IPO has been set for Tuesday to Thursday next week. The PSU has set a fixed IREDA IPO price range ₹30 to ₹32 per share and the book build issue is proposed for listing on BSE and NSE.

Meanwhile, the gray market is bullish on the initial offering ahead of the IREDA IPO opening date. According to market watchers, shares of Indian Renewable Energy Development Agency Ltd are available at a premium of ₹9 on the gray market today.

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

Important details about IREDA’s IPO

Here we list important details about IREDA’s IPO:

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

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

3]IREDA IPO Price: The power supply has a fixed price range of the book construction edition ₹30 to ₹32 per share.

4]IREDA IPO lot size: A bidder can apply in lots and one lot of the IPO includes 460 company shares.

Also read: Tata Tech IPO: GMP rises as issue opens next week. Date, price, further details

5]IREDA IPO Size: The state-run public limited company aims to raise ₹2,150.21 crore through its public offer.

6]IREDA IPO Allotment Date: Under the T+3 schedule, the tentative date for completion of share allotment is either November 24, 2023 or November 27, 2023. This means that the allotment date for IREDA’s IPO will be either Friday next week or Monday, which is after the end of next week, may fall.

7]IREDA IPO investment limit: The IREDA IPO price range applies ₹30 to ₹32 per share and one lot contains 460 company shares. The minimum amount that a private investor needs to apply for the IPO is ₹14,720 ( ₹32×460).

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

9]IREDA Listing Date: The public issue can take place on November 28, 2023.

IREDA IPO: Apply or not?

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

Sonam Srivastava, Founder and Fund Manager at Wright Research, advised investors to apply for the upcoming IPO: “IREDA’s focus on renewable energy financing is timely and in line with the global shift towards sustainable energy. The first IPO by a government-run company since LIC.” It carries a certain credibility. The growth potential of the renewable energy sector is significant, but it is also subject to policy changes and technological advances that could impact IREDA’s performance.”

Disclaimer: The views and recommendations expressed above are those of individual analysts or brokerage firms and not of Mint. We recommend investors consult certified experts before making an investment decision.

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