Thursday, February 29th, 2024

IREDA IPO blast, listed at 56 percent premium, know the listing share price, investors should adopt this strategy


Photo:FILE The market capitalization of the company after the issue will be between ₹8,063 crore and ₹8,601 crore.

Today there is great news for the investors who got the lots of IREDA IPO. Shares of miniratna company Indian Renewable and Energy Development Agency Ltd (IREDA) debuted at a healthy premium of 56% on bourses in Wednesday (November 29) trade. The stock was listed at Rs 50 per share on NSE and BSE, higher than the IPO price of Rs 32. Before its market debut, IREDA shares were at a premium of Rs 12 in the unlisted market, CNBC reported.

advice for investors

According to the news, experts believe that the investors who have got the allotment. They can keep their shares in a medium to long term context. Similarly, short-term investors can book profits of over 25 per cent, while long-term investors can hold the stock considering the government’s initiatives to promote the renewable energy sector. Let us tell you, IREDA is the country’s first PSU IPO to hit the market this year. Also, it is the first after LIC’s entry into the stock market in May 2022.

IREDA GMP

IREDA shares were at a premium of Rs 12 in the unlisted market. The gray market is an informal platform where IPO shares can be bought and sold until listing. Most investors usually get some help from the gray market to estimate the potential listing price of any public offering. This IPO of the company got full support from investors. The IPO received subscription of about 38.8 times. IREDA’s IPO worth Rs 2,150 crore was opened for subscription between November 21 and November 23. The company had sold its IPO in the range of ₹30-32 with a lot size of 460 shares. The government company is expected to get the benefits of listing the equity shares on the stock exchanges.

update in progress…

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