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Shares of state-run Indian Renewable Energy Development Agency (IREDA) can bring huge profits. The IPO of mini gem company IREDA is in tremendous demand. IREDA’s IPO is fully booked in first 2 days. The company’s IPO has been subscribed more than 4 times. The company’s IPO is also making waves in the gray market. IREDA’s shares are trading at a premium of over 30 percent in the gray market. There is still an opportunity to bet on the company’s IPO. IREDA’s IPO is open for subscription till November 23.
Share Rs. Above 40 can be listed
The price band of IREDA IPO is Rs. 30-32 is. Shares of the company in the gray market at Rs. 10 are being traded at a premium. If the shares of IREDA in IPO are Rs. If allocated at the upper price band of 32, the company’s shares are priced at Rs. A range of 42 can be listed. Investors who will be allotted shares of the government company in the IPO can expect a profit of more than 30 percent on the day of listing.
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The IPO has been subscribed more than 4 times
The IPO of state-owned Indian Renewable Energy Development Agency (IREDA) has been subscribed a total of 4.59 times in the first 2 days. The retail quota of the company’s IPO was subscribed 4.32 times. At the same time, non-institutional investors (NII) have subscribed 7.76 times the quota. While the IPO Qualified Institutional Buyers (QIB) quota has been subscribed 2.69 times. The company’s IPO has been subscribed 5.01 times the quota of employees. November 23 is the last day for subscription to the company’s IPO.
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The company’s shares will be listed on December 4
IREDA shares may be listed on the exchange on December 4, 2023. Shares of government companies will be listed on Bombay Stock Exchange and National Stock Exchange. Retail investors can bid for a minimum of 1 lot and a maximum of 13 lots in a company’s IPO. One lot of IPO consists of 460 shares.