IREDA IPO: Grey Market Premium, Price, Lot Size, and Key Details – Experts’ Recommendations

Indian Renewable Energy Development Agency’s IPO Anticipation Grows

The upcoming initial public offering (IPO) of the Indian Renewable Energy Development Agency (IREDA) is set to open on November 21, 2023, and will be available for subscription until November 23, 2023. The IPO, valued at ₹2,150.21 crore, has a price band of ₹30 to ₹32 per equity share. Market observers note a positive sentiment in the grey market, with IREDA shares commanding a premium of ₹9.

Key Details of IREDA IPO:

1. Grey Market Premium (GMP) Today: IREDA shares are currently trading at a premium of ₹9 in the grey market, reflecting positive market sentiment.
2. IREDA IPO Date: The subscription period for the IPO will be from November 21, 2023, to November 23, 2023.
3. IREDA IPO Price Band: The price band for the book-build issue is set at ₹30 to ₹32 per share.
4. IREDA IPO Lot Size: The lot size for the IPO is 460 shares, allowing investors to apply in multiples of this lot size.
5. IREDA IPO Size: The public issue aims to raise ₹2,150.21 crore.
6. IREDA IPO Allotment Date: Tentatively scheduled for November 24, 2023, or November 27, 2023, based on the T+3 schedule.
7. IREDA IPO Investment Limit: With a price band of ₹30 to ₹32 per share and a lot size of 460 shares, the minimum investment for a retail investor is ₹14,720 (₹32 x 460).
8. IREDA IPO Listing: The IPO is proposed to be listed on both BSE and NSE.
9. IREDA Listing Date: The listing is expected to take place on November 28, 2023.

Expert Recommendations on IREDA IPO:

Atul Parakh, CEO at Bigul, suggests that IREDA IPO is likely to attract the attention of primary market investors, anticipating good listing gains and considering it as a potential long-term investment.

Sonam Srivastava, Founder & Fund Manager at Wright Research, recommends investors to consider applying for the IPO. Highlighting IREDA’s focus on renewable energy financing and its alignment with global trends toward sustainable energy, Srivastava notes the significance of being the first government-run company IPO since LIC. While acknowledging the growth potential in the renewable energy sector, she also advises considering factors like policy changes and technological advancements that could influence IREDA’s performance.