IREDA IPO: The initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA), which was open for public subscription between November 21 and November 23, received an overwhelming response from investors with a whopping 38.80 times subscription on the last day of bidding on Thursday. Now, reports suggest that the IPO allotment date is likely to be today, Friday. Amid this, the company’s GMP or grey market premium indicates 37.5 per cent listing gains.
Though the IPO allotment is likely to take place today as the stock market will remain closed on Monday or November 27 on account of Gurunanak Jayanti, the listing is likely to follow T+3 and the shares might list on Wednesday, November 29.
IREDA IPO GMP Today
According to market observers, unlisted shares of IREDA were trading Rs 12 higher in the grey market as compared with its issue price. The Rs 12 grey market premium or GMP means the grey market is expecting a 37.5 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
The price range for the offer stood at Rs 30-32 a share.
IREDA IPO: Step-By-Step Guide To Check Allotment Status
Here’s how you can check IREDA IPO allotment status via BSE website:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Indian Renewable Energy Development Agency Limited’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime portal — linkintime.co.in/mipo/ipoallotment.html and check IREDA IPO allotment status.
IREDA IPO Subscription Status
The IPO received a total 38.80 times subscription in three days of bidding between November 21 and November 23.
The Rs 2,150-crore IPO received bids for 18,27,24,58,560 shares against 47,09,21,451 shares on offer, as per NSE data.
The category for Qualified Institutional Buyers (QIBs) received a whopping 104.57 times subscription. The quota for non-institutional investors got subscribed 24.16 times and the portion for Retail Individual Investors (RIIs) received 7.73 times subscription. The IPO has a fresh issue of up to 40,31,64,706 equity shares and an offer for sale of up to 26,87,76,471 equity shares.
The price range for the offer was Rs 30-32 a share. Indian Renewable Energy Development Agency has mobilised Rs 643 crore from anchor investors.
This is the first public issue by a public sector enterprise after Life Insurance Corporation’s IPO in May last year. Proceeds from the fresh issue will be used for augmenting IREDA’s capital base to meet its future capital requirements and onward lending.
IREDA is a mini Ratna firm with administrative controls with the Ministry of New and Renewable Energy. The organisation offers a comprehensive array of financial products (fund- and non-fund-based) associated services, from project inception to post-completion, for renewable energy projects and related activities like equipment manufacturing and transmission.
SBI Capital Markets, IDBI Capital Markets and Securities and BOB Capital Markets were the managers to the offer. Shares of the company will be listed on the BSE and NSE.
News Related
-
Fix water crisis, or else, City warned Durban — Opposition parties in eThekwini have called on Co-operative Governance and Traditional Affairs (Cogta) MEC Bongi Sithole to intervene as the City battles the water crisis. IFP councillor Jonathan Annipen said his party was calling for the placing of the City’s Water ...
See Details:
Fix water crisis, or else, City warned
-
Westend61/Getty Images Giving Tuesday is this week. It’s a day when charities ask us to take a break from our holiday shopping and open our wallets to worthy causes. If you’re wondering which organizations to support or how much money to donate, Kevin Scally of Charity Navigator has some advice ...
See Details:
Giving Tuesday: How to donate to a charity with purpose and intention
-
SEOUL – A single street in Seoul is the perfect place to map out a cultural itinerary on your next vacation to South Korea, as Samcheong-ro presents a panoramic view of the capital’s exploding art scene for free, or close to free. Just a 20-minute bus ride from Myeongdong’s shopping ...
See Details:
Visiting South Korea? Get your culture fix in this artsy street in Seoul
-
Traffic advisory issued ahead of PM Modi’s Hyderabad roadshow today Hyderabad Traffic Police issued an advisory for commuters, announcing a series of restrictions and diversions across various parts of the city in view of Prime Minister Narendra Modi’s visit on Monday. The advisory specifies that traffic movement will face restrictions ...
See Details:
Traffic advisory issued ahead of PM Modi's Hyderabad roadshow today
-
Dar es Salaam. Amid debate on the possibility of adopting Kiswahili as the medium of instruction in public schools, attention has shifted to mass failure in English language in this year’s Primary School Leaving Examination (PSLE).Results released last Thursday show that only 34.35 percent of candidates passed the subject with ...
See Details:
How to improve teaching of English in primary schools
-
The process of deep cleaning a small bedroom might sound like a rather simple task, seeing as it’s a small space that you’re working with. But actually, despite the room’s compact size, it can feel rather overwhelming, and knowing where to start can be tricky. The good news is that ...
See Details:
How to deep clean a small bedroom according to experts
-
Puad Zarkashi said what PKR is experiencing now was what Umno faced in the past. PETALING JAYA: PKR can now understand the difficulties that Umno faced governing the country in the past, says Umno Supreme Council member Puad Zarkashi Puad cited how a delegate at PKR’s national congress yesterday said ...
See Details:
Now you know how tough being in govt is, Puad tells PKR
-
Is this the ultimate flex? Russian social media influencer Real Blogger Life has posted a video on YouTube showing how they strapped a Rolls-Royce Ghost to the roof of a Hummer H2 SUT and drove it around to get attention. This video comes after another Russian social media influencer drove ...
See Details:
How to make a Hummer even flashier: strap a Rolls-Royce on top
-
-
-
Is this the ultimate flex? Russian social media influencer Real Blogger Life has posted a video on YouTube showing how they strapped a Rolls-Royce Ghost to the roof of a Hummer H2 SUT and drove it around to get attention. This video comes after another Russian social media influencer drove ...
See Details:
How To Watch The 2023 BET Soul Train Awards
-
Is this the ultimate flex? Russian social media influencer Real Blogger Life has posted a video on YouTube showing how they strapped a Rolls-Royce Ghost to the roof of a Hummer H2 SUT and drove it around to get attention. This video comes after another Russian social media influencer drove ...
See Details:
Stimulus Check for Senior Citizens: How to qualify for a $2000 payment?
-
Is this the ultimate flex? Russian social media influencer Real Blogger Life has posted a video on YouTube showing how they strapped a Rolls-Royce Ghost to the roof of a Hummer H2 SUT and drove it around to get attention. This video comes after another Russian social media influencer drove ...
See Details:
How to watch Faraway Downs: stream the Baz Luhrmann miniseries
-
OTHER NEWS
Patrick Mahomes #15 of the Kansas City Chiefs warms up prior to an NFL football game between the Denver Broncos and the Kansas City Chiefs at Empower Field At Mile ...
Read more »
Schöne Überraschung Dieser Brief macht Freisinger Kinder „fix und fertig“: König Charles meldet sich bei Drittklässlern Dank für die Glückwünsche: Das königliche Paar schickte ein Einen besonderen Brief verfasste im ...
Read more »
How to recreate the 'Friends' moist maker Thanksgiving sandwich Jessie James Decker shared the Thanksgiving sandwich from her cookbook. ByKelly McCarthy November 24, 2023, 4:01 AM Jessie James Decker has ...
Read more »
, Nov. 26 — Jamdani saree, an emblem of Bangladeshi tradition, symbolises cultural richness and artisanal finesse. Distinguishing a real Jamdani from cheaper replicas necessitates keen attention to intricate details ...
Read more »
Stefon Diggs #14 of the Buffalo Bills warms up before the game against the New York Jets at Highmark Stadium on November 19, 2023 in Orchard Park, New York. / ...
Read more »
The Minister for the Presidency, Milly Babalanda, has advised Jinja city leaders to avoid haphazard developments by strictly enforcing physical planning guidelines, so as to sustain the town’s beauty to ...
Read more »
The allotment status of IREDA IPO can be checked online through the official website of BSE. While Tata Technologies IPO remained the more popular choice among subscribers this week, the ...
Read more »