Read on the application
IREDA IPO: The wait for the initial public offering (IPO) of the government company Indian Renewable Energy Development Agency (IREDA) is now coming to an end. The IPO is opening on 21st November i.e next week Tuesday. At the same time, there will be an opportunity to place bets till Thursday i.e. November 23. The price band of the IREDA IPO has been fixed at ₹30 to ₹32 per equity share. The listing of this IPO in the gray market is giving positive signals. The premium for this IPO in the gray market is ₹9. This means that an IPO of Rs. Can be listed for more than 40 prices.
What is the lot size?
One lot applied for IREDA IPO will have 460 shares. The minimum amount required for a retail investor to apply for an IPO is ₹14,720 (₹32 x 460). Let us tell you that the target of this government company is to raise Rs 2,150.21 crore through its public offering. The IPO allotment may take place on 24th November or 27th November. A public issue of the company is proposed for listing on BSE and NSE. The IPO can be listed on 28 November 2023.
Is it worth betting or not?
Experts believe that among the five major IPOs coming up next week, IREDA will be on investors’ radar. There are indications of wealth gain on the day of listing. This IPO can be subscribed for long term profit. Rite Research founder and fund manager Sonam Srivastava advises investors to apply for the upcoming IPO, saying it has certain credibility. Subscribing to it can be a lucrative deal.