IREDA IPO, which saw a whopping 39 times subscription last week, is likely to be listed on the BSE and the NSE on December 4. According to market observers, the grey market premium (GMP) of the Indian Renewable Energy Development Agency (IREDA) is indicating a 31.25 per cent gain in the listing gain.
The Rs 2,150-crore IPO was open for public subscription between November 21 and November 23. The share allotment was finalised on November 25. Those who have got the shares will get the shares in their demat accounts on Friday, December 1. Those who have not got the IPO allotment will get refund, the process for which will start on November 30.
IREDA IPO GMP Today
According to market observers, unlisted shares of IREDA are currently trading Rs 10 higher in the grey market as compared with its issue price. The Rs 10 grey market premium or GMP means the grey market is expecting a 31.25 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
The price range for the offer stood at Rs 30-32 a share.
IREDA IPO Subscription Status
The IPO received 38.8 times the subscription. The category for Qualified Institutional Buyers (QIBs) received a whopping 104.57 times subscription. The quota for non-institutional investors got subscribed 24.16 times and the portion for Retail Individual Investors (RIIs) received 7.73 times subscription. The IPO has a fresh issue of up to 40,31,64,706 equity shares and an offer for sale of up to 26,87,76,471 equity shares.
The price range for the offer was Rs 30-32 a share. Indian Renewable Energy Development Agency mobilised Rs 643 crore from anchor investors.
IREDA IPO: How To Check Allotment Status
Here’s how you can check IREDA IPO allotment status via BSE website:
1) Go to the official BSE website via the URL —