- By Aditya Pratap Singh
- Wed, 29 Nov 2023 10:50 AM (IST)
- Source:JND
Indian Renewable Energy Development Agency (IREDA) shares are listed on the stock market at a bumper premium of 56 percent. IREDA IPO’s issue price was Rs 32, and its shares were listed on both NSE and BSE at Rs 50 on Wednesday.
Before the Indian Renewable Energy Development Agency (IREDA) market listing, shares in the unlisted market were trading at Rs 12.25. IREDA's IPO received a phenomenal response from investors, with 38.8 times oversubscription. It shows investor’s belief in the company's strong fundamentals and growth potential.
Market analysts point to India's prestigious renewable energy IREDA as a key player, the largest green financing non-banking financial institution (NBFC) poised to invest in the expanding sector.
IREDA has a track record of over 36 years in promoting and financing new and sustainable energy (RE) projects and energy efficiency and conservation (EEC) initiatives. IREDA is India's largest- state-owned- dedicated green financing non-banking financial company (NBFC).
Also Read: UPI Transactions May See Four Hours Delay; Know Why
Earlier, IREDA Chairman Pradeep Kumar Das said that the Government is considering giving 'Navaratna' status to Renewable Energy Development Agency of India Limited.
In an interview with BQ Prime, the Chairman of the state-owned non-banking financial services company said, "A government of India meeting is likely to be held on Nov. 30 where upgrading IREDA to 'Navaratna' status will be considered."
IREDA IPO Details
-
The price range was Rs 30- Rs 32
-
The Company decided on a Lot size of 460 shares for a subscription
-
IREDA aimed to raise Rs 2,150.21 cr With The IPO
-
One Should Invest at least Rs 13,800 as a bid for Ireda IPO
As the shares have been listed on BSE and NSE, the union government's stake in the company came down to 75% from 100%.
Also Read: KPI Green Energy Shares Touches New 52-Week High After Company Gets new Project; Stock Jumps Over 1000% In 5 Years