Incredibly, the share price of IREDA was listed with a premier of more than 56 percent on BSE and NSE. The subscribers who got the allotment of the shares are now cheering to have the shares of IREDA which made a stellar debut on the bourses when the market opened on Wednesday, November 29, 2023, i.e. today. Do you know what was the issue price of IREDA shares? Reportedly, the share of IREDA was issued at Rs 32. Since the Indian Renewable Energy Development Agency IPO became available for subscription, investors have been keenly following the market trends of this stock. Here in this article, we have poured in everything that you need to know about IREDA IPO. Let’s delve deep into the details and learn more information. Swipe down the page.
The shares of IREDA IPO were set at the price of Rs 32 when it was listed on NSE and BSE. Currently, the stock has been offering a premium of 56.25 percent. The IPO of IREDA was launched for subscription on Tuesday, November 21, 2023, and it remained open for two days till Thursday, November 23, 2023. What was the price band of the IPO? As per the reports, the Indian Renewable Energy Development Agency IPO price band was between Rs 30 and Rs 32 per equity share with a face value of Rs 10. Continue reading this article for more details.
Speaking of the lot size, the IPO was issued with a lot size of 460 equity shares and in multiples of 460 equity shares. From anchor investment, the IPO reportedly gained Rs 643.26 crore on Monday, November 20. On Day 3, i.e. November 23, IREDA IPO was subscribed 38.80 times. The retail investors portion of the IPO was subscribed 7.73 times, the QIB (Qualified Institutional Buyers) portion was subscribed 104.57 times, and the NII portion was subscribed 24.16 times. On November 23, the employee portion was subscribed 9.80 times, as per BSE data.
Indian Renewable Energy Development Agency IPO reserved less than 50 percent of the shares in the public issue for QIB, more than 15 percent for NII (Non-Institutional Investors), and more than 35 percent reserved for Retail Investors. The IPO consists of a fresh issue of up to 40.32 crore shares and an offer for sale of up to 26.88 crore equity shares by the President of India, acting through the New and Renewable Energy Ministry. The offer includes a reservation for subscription by employees. The size of the IREDA IPO is Rs 2,150.21 crore.