The Indian Renewable Energy Development Agency (IREDA) is set to list its shares on the stock exchange. According to experts, the price of the company’s shares on the first day will be Rs. 40. The IPO of the government company IREDA has received a strong response from investors. The IPO was subscribed 38 times more than the offering. Shares of the company were also trading in the grey market at a premium of more than 35%. The IPO of IREDA was open for investment from November 21, 2023, to November 23, 2023. The company had set a price range of Rs. 30-32 per share for its IPO. The government company IREDA allotted shares at a price above Rs. 32. If the share stays at a premium price of Rs. 12 in the grey market, the shares of the company can be listed at a price of Rs. 44. This means that investors could earn a profit of 37% on the first day of listing.
The IPO of the government company IREDA was subscribed 38.80 times more than the offering. The reserved quota for retail investors in the company’s IPO was oversubscribed by 7.73 times. The quota reserved for non-institutional investors was oversubscribed by 24.16 times. The reserved quota for qualified institutional buyers was oversubscribed by 104.57 times. The IPO of the company also had a reserved quota for employees, who subscribed 9.80 times more than the offering. Retail investors could purchase a minimum of 1 lot and a maximum of 13 lots in the IREDA IPO. To purchase 13 lots, investors had to deposit Rs. 191,360.
IREDA IPO, also known as the Initial Public Offering of the Indian Renewable Energy Development Agency, is set to be listed on the stock market. According to experts, the shares of the company are expected to be priced at Rs. 40 on the first day of trading. Investors have shown a strong response to the IPO of the government-owned company IREDA. The IPO of the company was oversubscribed by 38 times. Shares of the company were also trading at a premium of over 35% in the grey market. The IPO of IREDA was open for investment between November 21, 2023, and November 23, 2023. The company had fixed the price range of its shares in the IPO at Rs. 30-32. Shares of the government-owned company IREDA were allocated at a premium of Rs. 32. If the shares remain at a premium price of Rs. 12 in the grey market, the company’s shares could be listed at a price of Rs. 44. This means that investors could earn a profit of 37% on the first day of listing. The IPO of the government-owned company IREDA was oversubscribed by 38.80 times. The reserved quota for retail investors in the company’s IPO was oversubscribed by 7.73 times. The reserved quota for non-institutional investors was oversubscribed by 24.16 times. The reserved quota for qualified institutional buyers was oversubscribed by 104.57 times. The IPO of the company included a reserved quota for employees, who subscribed 9.80 times more than the allotted quota. Retail investors can purchase a minimum of 1 lot and a maximum of 13 lots in the IREDA IPO. Investors had to deposit Rs. 191,360 to purchase 13 lots. The IPO of IREDA is scheduled for November 29, 2023.
People Can Find This Information Useful for: IREDA IPO, company, Indian Renewable Energy Development Agency, shares, investors, price, government, reaction, subscription, grey market, premium, trading, November 21, 2023, November 23, 2023, share price range, allocation, listing, profit, retail investors, reserved quota, non-institutional investors, qualified institutional buyers, employees, minimum lot, maximum lot, investment, news
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
