IREDA IPO opens today. Know its GMP, price, date & other details here

Shares of IREDA are available at a premium of Rs 7 in Indian primary market on Tuesday. 

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Alina Khan
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The initial public offering (IPO) of the Indian Renewable Energy Development Agency (IREDA) was launched today. The IPO, which aims to raise Rs 2,150 crores, will remain open for subscription till this week – November 23.

IREDA, a state-owned company focused on renewable energy financing, has fixed the price band at Rs 30-32 per equity share for the offer. After the IPO, the shares will be listed on the Bombay Stock Exchange and National Stock Exchange.

Established in 1987, IREDA plays a key role in financing renewable energy projects across solar, wind, hydro and bio-energy segments. As renewable energy adoption gains momentum in India, the company's public issue is expected to see strong interest from institutional and retail investors.

The proceeds from the IPO will be used to augment IREDA's equity capital base to meet future growth requirements. As of June 2021, the company had a loan book of Rs 33,931 crores and profit after tax of Rs 209 crores in fiscal year 2021.

Key details of IREDA IPO

  • IREDA IPO GMP on Tuesday: The company’s shares are available at a premium rate of Rs 7 in the grey market today, as per the market observers.

  • IREDA IPO key dates: The IPO will remain open for its subscription till November 23.

  • IREDA IPO price: The PSU has fixed its price band of the book build issue at Rs 30 – Rs 32 per share.

  • IREDA IPO lot size: If you are a bidder then, you will be able to apply in lots and one lot of the IPO comprising 460 company shares.

  • IREDA IPO size: The company aims to raise Rs 2,150 crores from its public offer.

  • IREDA IPO allotment dates: Due to the shorter T+3 settlement, the Indian Renewable Energy Development Agency's (IREDA) IPO share allotment is tentatively expected on either November 24 or 27. Reportedly, the final allotment could occur next Friday or the Monday after next for the ongoing public issue.

  • IREDA IPO investment limit: IREDA IPO price band fixed at Rs30-32 per share. With one lot equal to 460 shares, the minimum investment for retail investors works out to Rs 14,720 (Rs 32 x 460).

  • IREDA IPO listing: The company is proposed for listing on BSE and NSE.

  • IREDA listing date: The public issue may be listed on November 28, 2023.

Disclaimer - Investing in securities markets involves risk. Users should understand that stock prices fluctuate, and investors may lose more than what they originally invested. Past performance is not indicative of future results. Readers should conduct personal due diligence before making any investment decisions.