The share price of Indian Renewable Energy Development Agency (IREDA) has witnessed a significant increase since its listing on the stock exchange. On November 30, 2023, the share price was trading at Rs. 64.95 with a growth of 8.25%. However, on December 1, 2023, the share price experienced a slight decline of 0.83% and was trading at Rs. 64.8. On the first day of listing, the share price of IREDA was trading at Rs. 59.80, showing a growth of 18%. Investors who invested in the company’s IPO earned a profit of Rs. 32 per share on the first day. The IPO of IREDA received an overwhelming response, with it being subscribed 38.80 times. The retail investors’ quota was oversubscribed by 7.73 times, while the non-institutional investors’ quota was oversubscribed by 24.16 times. Qualified institutional buyers subscribed for 104.57 times more than their reserved quota. IREDA also reserved a quota for its employees, which was oversubscribed by 9.80 times. The minimum lot size for retail investors in this IPO was 1 lot, while the maximum was 13 lots. Prior to the IPO, the Indian government held a 100% stake in the company, which has now reduced to 75% post IPO.
IREDA Share Price on 1 December 2023:
1. The share price of IREDA, the government-owned company, was listed at Rs. 50 with a 56% premium on BSE Index.
2. Since its listing on the stock exchange, IREDA shares have been consistently increasing.
3. On Thursday, 30 November 2023, the share price of IREDA was trading at Rs. 64.95 with a 8.25% increase.
4. On Friday, 1 December 2023, the share price was trading at Rs. 64.80 with a 0.83% decrease.
5. On the first day of listing, IREDA shares were trading at Rs. 59.80 with an 18% increase.
6. Investors who invested in the IPO earned a profit of Rs. 32 per share on the first day.
7. The share price of IREDA increased the investors’ money by up to 85% on the first day of listing.
8. The IPO of IREDA was open for investment from 21 November 2023 to 23 November 2023.
9. The size of the government company’s IPO is Rs. 2150.21 crore.
10. The IPO of IREDA was oversubscribed by 38.80 times.
11. Retail investors subscribed to the IPO 7.73 times more than the reserved quota.
12. Non-institutional investors subscribed to the IPO 24.16 times more than the reserved quota.
13. Qualified institutional buyers subscribed to the IPO 104.57 times more than the reserved quota.
14. IREDA subscribed to the reserved quota for its employees 9.80 times more.
15. Retail investors could purchase a minimum of 1 lot and a maximum of 13 lots in this IPO.
16. Prior to the IPO, the Indian government held a 100% stake in the company, which has now decreased to 75%.
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