The public offering will begin accepting subscriptions on November 21, 2023, and it will be available for purchase until November 23, 2023.
Indian Renewable Energy IPO GMP
The most recent Indian Renewable Energy IPO GMP is ₹7, as of Nov. 21, 2023, 09:01 AM. The expected listing price of the IREDA IPO, with a price band of 32,000, is ₹38 (cap price + today’s GMP).
Update GMP every day, and based on the activity of the past 13 sessions in the grey market, we anticipate a robust listing and an upward trend in GMP during the IPO. ₹0 is the lowest GMP and ₹8 is the highest.
Stay tuned to learn about the IREDA IPO GMP’s daily price movement and anticipated listing price of 18.75% is the projected percentage gain/loss per share.
IREDA IPO Allotment Date
Starting on November 21, 2023, and ending on November 23, 2023, the IREDA IPO subscription period will be open. The IREDA IPO allocation is expected to be finalized on Wednesday, November 29, 2023.
Beginning on Thursday, November 30, 2023, and ending on Friday, December 1, 2023, with the crediting of shares to the demat account.
The anticipated listing date for the IREDA IPO is set for Monday, December 4, 2023, on the BSE and NSE.
| IPO Open Date | Tuesday, November 21, 2023 |
| IPO Close Date | Thursday, November 23, 2023 |
| Basis of Allotment | Wednesday, November 29, 2023 |
| Initiation of Refunds | Thursday, November 30, 2023 |
| The credit of Shares to Demat | Friday, December 1, 2023 |
| Listing Date | Monday, December 4, 2023 |
| The cut-off time for UPI mandate confirmation | 5 PM on November 23, 2023 |
The pricing range for the IREDA IPO is ₹30 to ₹32 per share. 460 Shares is the minimum lot size required for an application. Retail investors are required to invest a minimum of ₹14,720.
For both sNII and bNII, the minimum lot size investment is ₹206,080 (14 lots/6,440 shares) and ₹1,000,960 (68 lots/31,280 shares).
A book-constructed issue of Rs 2,150.21 crores is the IREDA IPO. The issue consists of an offer to sell 26.88 crore shares, valued at an aggregate of Rs 860.08 crores, and a new issuance of 40.32 crore shares, valued at Rs 1,290.13 crores.
How to Check the Indian Renewable Energy IPO Allotment Status?
To check the Indian Renewable Energy IPO allotment status:
- Visit the official website of the registrar or the stock exchange where the IPO is listed.
- Navigate to the ‘IPO Allotment’ or ‘Allotment Status’ section.
- Information such as the application number or PAN number must be included.
- To check your allocation status, provide the required information.
- Alternatively, check your email or SMS for allotment details.
IREDA IPO Investment Limit
Since one lot contains 460 firm shares the IREDA IPO price range is ₹30 to ₹32 per share. Retail investors must submit an application for the IPO with a minimum of ₹14,720 (₹32 x 460).
IREDA IPO Lot Size
A minimum of 460 shares, as well as multiples of those shares, are up for bid. Follow the instructions below to see the lowest and largest amounts invested by HNIs and regular investors, together with their proportion of the total.
- Retail (Min): 460, ₹14,720
- Retail (Max): 5980, ₹191,360
- S-HNI (Min): 6,440, ₹206,080
- S-HNI (Max): 30,820, ₹986,240
- B-HNI (Min): 31,280, ₹1,000,960
IREDA IPO Reservation
- QIB Shares Offered: Not more than 50% of the Net Issue
- Retail Shares Offered: Not less than 35% of the Net Issue
- NII (HNI) Shares Offered: Not less than 15% of the Net Issue
Objects of the Issue (IREDA IPO)
The Fresh Issue and the Offer for Sale are both included in the Offer. The Offer for Sale will not generate any revenue for the firm.
Additionally, the Promoter Selling Shareholder will get the funds of the Offer for Sale; they will not be included in the Net funds. The following are the intended uses of the net profits by the company:
- Expanding the capital base to accommodate onward lending and future capital needs.
- The company anticipates advantages from listing the equity shares on stock exchanges, such as improved brand recognition among current and future clients and the establishment of an Indian public market for equity shares.
IREDA IPO Review (Apply)
Being a PSU, IREDA leads the way in finance for renewable energy and consultancy services. For the given periods, it has shown growth in both its top and bottom lines.
The issue seems properly priced based on annualized FY24 results, but it’s a long shot. Educated individuals may purchase this stock with an eye toward the future.
IREDA IPO – Buy or Not
Deciding whether to buy into the IREDA (Indian Renewable Energy Development Agency) IPO depends on individual investment goals, risk tolerance, and market analysis.
It’s crucial to assess factors such as the company’s financial health, growth prospects, and overall market conditions.
Consider consulting with financial experts, conducting thorough research, and evaluating your investment strategy before making any decisions.
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