The government-owned company Indian Renewable Energy Development Agency (IREDA) is finally making its initial public offering (IPO) debut.
The IPO opens today, on November 21, and investors can participate until Thursday, November 23.
The share price for IREDA IPO is set between ₹30 and ₹32 per share. The gray market, where unofficial trading occurs, is showing positive signals with a premium of ₹7 on this IPO.
Lot Size Information
If you wish to apply for one lot in the IREDA IPO, you’ll be getting 460 shares. For a retail investor, the minimum amount required to apply for the IPO is ₹14,720 (calculated as ₹32 multiplied by 460 shares).
It’s essential to note that the government company aims to raise Rs 2,150.21 crore through this public offering.
The IPO allotment is expected to take place on either November 24 or November 27, and the company is planning to be listed on both BSE and NSE on November 28, 2023.
Experts are optimistic about IREDA IPO among the five major IPOs scheduled for the coming week.
There are indications of potential profit on the listing day, and experts suggest that subscribing to this IPO could be a lucrative long-term investment.
Sonam Srivastava, founder and fund manager at Wright Research, recommends investors to apply for this upcoming IPO, emphasizing its credibility and the potential for profitable returns.