IREDA IPO GMP: Indian Renewable Energy Development Agency IPO GMP

Indian Renewable Energy Development Agency IPO GMP: Indian Renewable Energy Development Agency Limited (IREDA IPO GMP) is all set to make a significant entry into the stock market with its upcoming IPO on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). This highly anticipated IPO is scheduled for subscription from November 21 to November 23, 2023. Each share is priced at a face value of Rs 10, with the IPO price band ranging between Rs 30 to 32 per share. Investors can apply for a lot size of 460 shares.

Also See: All IPO GMP Today

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IREDA IPO GMP Table

Here’s a detailed table showcasing the GMP data for IREDA’s IPO: [Last Updated: 29 Nov, 2023; 09:35]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price (₹)
29-11-202332.00₹124400/61600₹44 (37.50%)
28-11-202332.00₹124400/61600₹44 (37.50%)
27-11-202332.00₹114000/56000₹43 (34.38%)
26-11-202332.00₹103500/49000₹42 (31.25%)
25-11-202332.00₹103500/49000₹42 (31.25%)
24-11-202332.00₹113800/53200₹43 (34.38%)
23-11-202332.00₹124200/58800₹44 (37.50%)
22-11-202332.00₹103500/49000₹42 (31.25%)
21-11-202332.00₹93300/46200₹41 (28.12%)
20-11-202332.00₹62300/32200₹38 (18.75%)
19-11-202332.00₹72600/36400₹39 (21.88%)
18-11-202332.00₹72600/36400₹39 (21.88%)
17-11-202332.00₹82800/39200₹40 (25%)
16-11-202332.00₹82800/39200₹40 (25%)
15-11-202332.00₹41400/19600₹36 (12.50%)
14-11-202332.00₹31000/14000₹35 (9.38%)
13-11-2023NA₹3₹3 (%)
12-11-2023NA₹0₹ (0%)
Indian Renewable Energy Development Agency IPO GMP

What is IPO Grey Market Premium (GMP)?

Before diving into the specifics of IREDA’s IPO, it’s essential to understand the concept of IPO Grey Market Premium (GMP). GMP is an unofficial and unregulated market where IPOs are traded before their official listing on the stock exchange. It serves as a vital indicator of how the IPO might perform on the listing day. A positive GMP suggests a profitable outcome, while a negative GMP indicates potential losses.

IREDA IPO

Investment Caution

While the GMP can provide insights, it is subject to high volatility. Investors should not base their decisions solely on the GMP and must consider all relevant factors before investing.

Also See: IREDA IPO Opens on November 21, Price Band Set at ₹30-32 Per Share

About IREDA

Company Overview

Established in 1987, the Indian Renewable Energy Development Agency Limited is a Government of India enterprise under the Ministry of New and Renewable Energy (MNRE). IREDA has played a pivotal role in funding various renewable energy projects, including solar, wind, hydropower, biomass, and green mobility. They also offer innovative financial products for emerging renewable technologies like biofuel, green hydrogen, and battery storage systems.

Financial Products and Services

IREDA provides a range of fund-based and non-fund-based products, including long-term loans, bridge loans, acquisition financing, letters of comfort, and surety programs. They also offer financing programs for RE suppliers, manufacturers, and contractors.

Strengths of IREDA’s IPO

  • Diversified asset book with stable profitability.
  • Strategic role in government initiatives in the Renewable Energy sector.
  • Strong brand name in a rapidly growing sector.
  • Digitalized processes for operational scalability.
  • Comprehensive risk-based credit appraisal and efficient project monitoring.
  • Experienced management and qualified employee base.

IPO Details

Important Dates

  • IPO Open Date: November 21, 2023
  • IPO Close Date: November 23, 2023
  • Basis of Allotment Finalisation Date: November 29, 2023
  • Refunds Initiation: November 30, 2023
  • Credit of Shares to Demat Account: December 1, 2023
  • IPO Listing Date: December 4, 2023
  • The IPO issue size is set at ₹2150.21 Cr.

Conclusion

IREDA’s IPO presents a significant opportunity for investors interested in the renewable energy sector. However, potential investors should exercise due diligence, considering the volatile nature of IPO GMP and the overall market conditions, to make informed investment decisions.

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