IREDA IPO Opens Today On 21 November Know About Price Band GMP And Other Details

IREDA IPO: If you like to invest money in public issues then this news is useful for you. The IPO of IREDA (Indian Renewable Energy Development Agency), a government NBFC company related to the renewable energy sector, is opening on Tuesday i.e. November 21, 2023. The company is trying to raise Rs 2150.21 crore through this IPO. If you are also thinking of investing money in this IPO, then we are giving you information about its details. Let us know what the company has fixed its price band, lot size etc.

Know the important details of IPO-

The company is going to sell 67.19 crore equity shares through IREDA’s IPO opening on November 21, 2023. Out of this, 40.32 crore fresh shares have been issued. The Government of India is selling a total of 26.88 equity shares through offer for sale. The company has fixed the price band of this IPO at Rs 30 to Rs 32 per share. Investors will be able to subscribe to this IPO till 23 November.

What was the lot size decided by the company?

According to the information given on, IREDA has made it mandatory for retail investors to invest in at least 1 lot size. There are a total of 460 shares in one lot. You can buy a maximum of 13 lot sizes. In such a situation, retail investors can invest a minimum of Rs 14,720 and a maximum of Rs 191,360 in this IPO. The allotment of shares of the company will take place on 29th November. Whereas unsuccessful investors will start getting their refund from November 30. Shares will be transferred to the demat account on 1st December. The listing of the company’s shares will take place on BSE and NSE on December 5, 2023.

The company raised this much amount from anchor investors

In this IPO, the company has reserved 50 percent share for institutional investors, 15 percent share for non-institutional investors and 35 percent share for retail investors. The company’s IPO was opened for anchor investors on Monday i.e. 20th November. The company has collected a total of Rs 643.26 crore through this IPO. The company has allotted 20,10,19,726 equity shares at Rs 32 per share to ten anchor investors. These anchor investors include Gam Star Emerging Equity, White Oak Midcap Fund, SBI Banking & Financial Services Fund, HDFC Mutual Fund, ICICI Prudential Midcap Fund etc.

What is the GMP of the company’s shares?

Talking about the financial condition of the company, the company’s earnings have increased by 47 percent to Rs 2320 crore between April and September in the financial year 2023-24. The company’s profit has increased by 41 percent to Rs 578 crore during this period. Earlier, in March 2023, the Central Government had given approval to IREDA to raise money through IPO. Talking about the GMP of this IPO, it is currently Rs 7 per share.

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