Day 2 of the IREDA IPO: Current Subscription Status and GMP Today

On Wednesday, the second day of subscriptions, the first public offering (IPO) of the state-owned Indian Renewable Energy Development Agency (IREDA), which was opened to the public on Tuesday, received a respectable 4.56 subscriptions. The Rs 2,150-crore IPO got offers for 2,14,52,83,140 shares up to the conclusion of the Wednesday auction, compared to the 47,09,21,451 shares that were on bigg boss 17 salman khan and mc stan share a iconic moment 268964 ipo ians 11zon

While the quota for Retail Individual Investors (RIIs) was subscribed to 4.25 times, the category intended for non-institutional investors attracted subscriptions 7.74 times. There were 2.69 subscriptions for the section designated for Qualified Institutional Buyers (QIBs). Up to 40,31,64,706 equity shares may be issued in fresh for the IPO, and up to 26,87,76,471 equity shares may be offered for sale.

The initial public offering (IPO) was fully subscribed 1.95 times on Tuesday, November 21, the first day of bidding.

The share listing may occur on December 4, although the IPO allotment will occur on November 29.


Market watchers said that unlisted shares of IREDA were selling on the gray market for Rs 9 more than the company’s issue price. The grey market anticipates a 28.12% listing gain from the public offering, as shown by the Rs 9 grey market premium, or GMP. The GMP is dynamic and dependent on market mood.

The willingness of investors to pay above the issue price is shown by the “grey market premium.”

Concerning the IREDA IPO

Up to 40,31,64,706 equity shares may be issued in fresh for the IPO, and up to 26,87,76,471 equity shares may be offered for sale. The offer’s price range is Rs 30-32 per share. The Indian Renewable Energy Development Agency has secured anchor investor funding of Rs 643 crore.

Following the IPO of Life Insurance Corporation in May of last year, this is the first public offering by a public sector company. The proceeds of the new issuance will be used to increase IREDA’s capital base in order to fulfill its lending and future capital needs.

A minimum of 460 shares is required for an application lot size. Retail investors are needed to invest a minimum of Rs 14,720. For NII, the minimum lot size investment is 68 lots (31,280 shares), worth Rs 10,00,960, and for NII, it is 14 lots (6,440 shares), worth Rs 2,06,080.

Under the Ministry of New and Renewable Energy’s administrative rules, IREDA is a small Ratna company. From project idea to project completion, the organization provides a wide range of financial products (fund and non-fund-based) and associated services for renewable energy projects and allied operations including equipment production and transmission.

The offer’s managers are SBI Capital Markets, IDBI Capital Markets & Securities, and BOB Capital Markets. The company’s shares will be listed on the NSE and BSE.

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