Home » IREDA IPO: Subscription, Expert Reviews, and Investor Insights

IREDA IPO: Subscription, Expert Reviews, and Investor Insights

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IREDA IPO Overview:

The Indian Renewable Energy Development Agency (IREDA) has initiated its initial public offering (IPO), open for subscription from November 21 to November 23, 2023. Priced between ₹30 to ₹32 per equity share, the state-owned company aims to raise ₹2,150.21 crore through this IPO, scheduled for listing on both BSE and NSE.

Market Sentiment:

As of the IPO’s opening, the grey market reflects a positive outlook, with shares reportedly trading at a ₹7 premium. This suggests a strong initial response from investors.

Subscription Status:

On the first day of bidding, the IPO has been subscribed 0.37 times overall, with the retail portion showing a higher interest at 0.61 times. The Non-Institutional Investor (NII) portion stands at 0.30 times.

Key Details:

IPO Allotment and Listing Dates: The tentative date for share allocation is either November 24 or November 27, 2023 (T+3 schedule). The listing date is anticipated to be November 28, 2023.

Lot Size: Each lot comprises 460 company shares, with a minimum investment of ₹14,720 for retail investors (₹32 x 460).

Size of the IPO: IREDA aims to raise ₹2,150.21 crore, reflecting the company’s valuation and financial goals.

Expert Opinions:

Arun Kejriwal, Founder at Kejriwal Research and Investment Services, suggests a ‘subscribe’ approach, citing IREDA’s strategic role in renewable energy and favorable financial indicators. Reliance Securities also recommends subscribing, highlighting IREDA’s growth trajectory and profitability. Nirmal Bang echoes this sentiment, emphasizing diversification into emerging green technologies as a positive factor.

Conclusion:

While several analysts and broking firms, including BP Equities, Choice Broking, and Swastika Investmart, endorse subscribing to the IREDA IPO, it’s essential for investors to conduct thorough research and seek advice from certified experts before making any investment decisions. As with any investment, risks should be carefully considered, and individual financial goals should guide decision-making.

Disclaimer: The views expressed by analysts and broking firms are their own, and investors are advised to exercise caution and seek professional advice before making investment decisions.

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