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IREDA IPO - Listing Date, GMP & Subscription

Indian Renewable Energy Development Agency Ltd IPO listing date: Nov 29, 2023 on NSE, BSE. Listed at ₹50 (+56.3%) vs issue price of ₹32. Subscribed 38.80x overall (QIB: 36.03x). Price band: ₹30-₹32, lot size 467 shares.

sHQ

stoicHQ Research Team · Ex-quants, IIT Delhi · Updated Nov 28, 2023

Key Dates

IPO Open DateNov 21, 2023

IPO Close DateNov 23, 2023

Allotment DateNov 24, 2023

Refund DateNov 28, 2023

Demat Credit DateNov 28, 2023

Listing DateNov 29, 2023

Issue Details

Price Band₹30-₹32

Issue Price₹32

Face Value₹10

Lot Size467 shares

Min Investment₹14,944

Issue Size₹2,150 crore

Listing ExchangeNSE, BSE

RegistrarKFin Technologies

IPO TypeMainboard

stoicHQ Analysis

✓Government of India enterprise

✓Renewable energy sector tailwind

✓Attractively priced vs NAV

✓56% listing gain

⚠PSU governance constraints

⚠NPA risk in project financing

About Indian Renewable Energy Development Agency Ltd

IREDA is a Government of India enterprise under the Ministry of New and Renewable Energy, providing financial assistance for renewable energy and energy efficiency projects.

Subscription Breakdown

Overall Subscription38.80x

QIB (Institutional)36.03x

NII (HNI)46.80x

Retail25.74x

Listing Price

₹50

Listing Gain

+56.3%

Issue Price

₹32

stoicHQ Analysis

Exceptional 56.3% listing gain driven by the renewable energy sector boom and government backing. The Rs 32 issue price was attractively valued vs peers, and retail investors saw immediate substantial gains. IREDA continued to outperform significantly through 2024.

Finance / Renewable Energy2023All 2023 IPOs

IPO Listing Timeline

Previous IPO← JSW Infrastructure IPO (listed Oct 3, 2023)Next IPOTata Technologies IPO (listed Nov 30, 2023) →

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IREDA IPO GMP - Historical Grey Market Premium

GMP is an unofficial market price. For educational purposes only.

DateGMP (₹)KostakImplied Gain

Nov 28, 2023+₹18-+56.3%

Nov 23, 2023+₹16₹500+50.0%

Nov 21, 2023+₹14₹420+43.8%

Nov 17, 2023+₹12₹320+37.5%

Nov 14, 2023+₹8₹200+25.0%

IREDA IPO Subscription Status - Day Wise

DayOverallQIBNII (HNI)Retail

Day 1 (Nov 21)4.22x1.84x3.42x5.84x

Day 2 (Nov 22)16.84x12.42x18.22x16.42x

Day 3 (Nov 23)38.80x36.03x46.80x25.74x

Anchor Investors

SBI Mutual Fund₹110 crore

Nippon India Mutual Fund₹92 crore

HDFC Mutual Fund₹80 crore

Indian Renewable Energy Development Agency Ltd - Financials at IPO

YearRevenuePATNet Margin

FY21₹1,520 crore₹164 crore10.8%

FY22₹1,944 crore₹212 crore10.9%

FY23₹2,480 crore₹296 crore11.9%

Listed Peers - Finance / Renewable Energy

NTPCPower / Renewable Energy

PFCPower Finance

Frequently Asked Questions

When did IREDA IPO list?

IREDA IPO listed on November 29, 2023 on NSE and BSE at ₹50, a 56.3% gain over the issue price of ₹32.

What was IREDA IPO GMP?

The grey market premium (GMP) for IREDA IPO peaked at ₹18, forecasting the 56.3% listing gain. GMP started at ₹8 when the IPO opened on November 21, 2023.

What was IREDA IPO subscription?

IREDA IPO was subscribed 38.80x overall. QIB was 36.03x, NII was 46.80x, and retail was 25.74x.

What is IREDA and what does it do?

IREDA (Indian Renewable Energy Development Agency) is a Government of India enterprise that provides financial assistance for renewable energy and energy efficiency projects under the Ministry of New and Renewable Energy.

What is IREDA IPO price band?

The IREDA IPO price band was ₹30-₹32 per share. Lot size was 467 shares. Minimum investment was ₹14,944. Issue size was ₹2,150 crore.

What is IREDA IPO allotment date?

The allotment date for IREDA IPO was November 24, 2023. Listing was on November 29, 2023.