IREDA IPO: Listing date of the initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) Limited has been fixed on 29th November 2023 i.e. today. As per the information available on BSE website, ‘…effective from Wednesday, November 29, 2023, the equity shares of Indian Renewable Energy Development Agency Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities.” The BSE notice went on to add that IREDA share price will list on BSE and NSE in special pre-open session during Wednesday deals.
According to stock market experts, IREDA IPO received strong response from investors, especially from the QIB segment. They said that Dalal Street mood is also optimistic, which also augurs well for the public issue on IREDA share listing date. They said that IREDA share price may open at a premium of ₹8.50 per share to ₹12.50 per share, depending upon the Indian and global stock market mood. So, allottees may expect 25 per cent to 30 per cent listing gain on IREDA IPO listing date.
Meanwhile, on IREDA listing date, grey market sentiment is still bullish. According to market observers, IREDA share price is quoting at a premium of ₹12 in grey market today.
Market observers said that IREDA IPO grey market premium (GMP) today is ₹12, which means grey market is expecting that IREDA share price will open at around ₹44 ( ₹32 + ₹12) per share levels on IREDA listing date i.e. today.
IREDA IPO listing price prediction
Speaking on IREDA IPO listing, Prashanth Tapse, Senior VP — Research at Mehta Equities said, “Despite being fully priced-in public offer, IREDA managed to receive overwhelming response from all sets of investors especially from the QIB segment which got oversubscribed by 104 times. Considering the high subscription demand and optimistic market mood a healthy 25 per cent and above listing gain can be assumed against the issue price of ₹32. We believe the listing premium is justified on the back of the company being tagged as leading PSU player in renewable energy financing and advisory services and a possible upgradation from a Mini Ratna to a Navratna company in near future which increases financial autonomy, allowing it to accelerate faster in the competition.”
Asked about IREDA share price listing gain, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “I am expecting IREDA share price to open at ₹8.50 to ₹12.50 per share premium. This means, an allottee may expect 25 per cent to 30 per cent listing gain on IREDA listing date. However, this listing gain may o further upside provided IREDA share price attracts high trade volume post-listing.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
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