IREDA IPO: Know GMP Today, Allotment Status.
Unlisted shares of IREDA were trading Rs 10 higher in the grey market as compared with its issue price, which is a 31.25 per cent listing gain from the public issue
The share allotment of IREDA IPO, which was open for public subscription between November 21 and November 23, was finalised on Saturday, November 25. The initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) received a whopping 38.80 times subscription, getting bids for 18,27,24,58,560 shares as against 47,09,21,451 shares on offer.
IREDA IPO: Step-By-Step Guide 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 —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Indian Renewable Energy Development Agency Limited’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime portal — linkintime.co.in/mipo/ipoallotment.html and check IREDA IPO allotment status.
IREDA IPO GMP Today
According to market observers, unlisted shares of IREDA were 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 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.
This is the first public issue by a public sector enterprise after Life Insurance Corporation’s IPO in May last year. Proceeds from the fresh issue will be used for augmenting IREDA’s capital base to meet its future capital requirements and onward lending.
IREDA is a mini Ratna firm with administrative controls with the Ministry of New and Renewable Energy. The organisation offers a comprehensive array of financial products (fund- and non-fund-based) associated services, from project inception to post-completion, for renewable energy projects and related activities like equipment manufacturing and transmission.
SBI Capital Markets, IDBI Capital Markets and Securities and BOB Capital Markets were the managers to the offer. Shares of the company will be listed on the BSE and NSE.
