IREDA IPO: GMP jumps on strong subscription status. How to check allotment status as focus shifts on listing date

IERDA IPO: The three days subscription for the initial public offering (IPO) of Indian Renewable Energy Development Agency Ltd closed on Thursday and now applicants are eagerly waiting for IREDA allotment date, which is expected any time today. As per IREDA IPO subscription status, the public issue got subscribed 38.80 times whereas its retail portion got subscribed 7.73 times. As per the T+3 schedule, IREDA IPO allotment date is most likely today as Monday will be stock market holiday for Gurunanak Jayanti.

Meanwhile, after strong subscription status in three days of bidding, grey market has gone further bullish on the public issue. As per the market observers, shares of IREDA Ltd are available at a premium of ₹11 in grey market today.

IREDA IPO GMP today

Market observers said that IREDA IPO grey market premium (GMP) today is ₹11, which is Re 1 higher from its Thursday GMP of ₹10. They said that the public issue received strong response from primary market investors despite range-bound sentiments on Dalal Street. They also said that primary market is crazy about Tata Technologies IPO and it also opened on the following date of IREDA IPO subscription opening date. But, IREDA IPO continue to attract investors' attention in this Tata Technologies IPO crazy primary market.

However, stock market experts maintained that GMP is not an ideal indicator about the success of failure of an IPO. They advised bidders and market investors to follow the basics and rely on the balance sheet of the company. They went on to add that grey market is non regulated and completely speculative as it has no connect with the financials of the company. They said that sometimes GMP turns put artificial as it involves those people as well who have high stake involved in the public issue.

IREDA IPO subscription status

After three days of bidding from 21st November to 23rd November 2023, IREDA IPO subscription status suggests that the public issue got subscribed 38.80 times whereas its retail portion got subscribed 7.73 times. QIBs led from the front as QIB portion got subscribed 104.57 times, Non-Institutional Investors or NII portion subscribed 24.16 times, whereas employee portion was subscribed 9.80 times.

IREDA IPO allotment, listing date

As per T+3 schedule, IREDA IPO listing date would be the third trade session after closure of subscription. As Monday would be stock market holiday, IREDA IPO listing date is most likely on Wednesday next week i.e. 29th November 2023.

IREDA IPO allotment status check

In that case, IREDA IPO allotment date is most likely today. So, IREDA IPO allotment can be announced any time today. However, bidders won't have to move from pillar to post after announcement of share allocation as they would be able to check their application status online by logging in at BSE website or at the website of official registrar of the IPO. Link Intime India Private Ltd has been appointed as official registrar of the IPO.

For more convenience, investors can login at direct BSE link — bseindia.com/investors/appli_check.aspx or at direct Link Intime portal — linkintime.co.in/mipo/ipoallotment.html and check IREDA IPO allotment status.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.