IREDA IPO listing date today. GMP, experts predict up to 30% premium | Mint
Active Stocks
Tue Feb 27 2024 14:58:45
  1. State Bank Of India share price
  2. 748.65 -1.36%
  1. Tata Steel share price
  2. 144.00 0.98%
  1. Sun Pharmaceutical Industries share price
  2. 1,579.25 1.43%
  1. Power Grid Corporation Of India share price
  2. 293.00 1.82%
  1. ITC share price
  2. 410.90 0.42%
Business News/ Markets / Ipo/  IREDA IPO listing date today. GMP, experts predict up to 30% premium
BackBack

IREDA IPO listing date today. GMP, experts predict up to 30% premium

IREDA IPO GMP today: Grey market is signaling that IREDA share price may open at around ₹44 per share levels, say stock market observers

Stock market today: IREDA share price may list at ₹8.50 to ₹12.50 per share premium, say stock experts. (Photo: Courtesy company website)Premium
Stock market today: IREDA share price may list at 8.50 to 12.50 per share premium, say stock experts. (Photo: Courtesy company website)

IREDA IPO: Listing date of the initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) Limited has been fixed on 29th November 2023 i.e. today. As per the information available on BSE website, '...effective from Wednesday, November 29, 2023, the equity shares of Indian Renewable Energy Development Agency Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities." The BSE notice went on to add that IREDA share price will list on BSE and NSE in special pre-open session during Wednesday deals.

Also Read: Tata Technologies IPO: Listing on stock exchanges scheduled for November 30

According to stock market experts, IREDA IPO received strong response from investors, especially from the QIB segment. They said that Dalal Street mood is also optimistic, which also augurs well for the public issue on IREDA share listing date. They said that IREDA share price may open at a premium of 8.50 per share to 12.50 per share, depending upon the Indian and global stock market mood. So, allottees may expect 25 per cent to 30 per cent listing gain on IREDA IPO listing date.

Also Read: Net Avenue Technologies IPO: 10 things to know about upcoming public issue

Meanwhile, on IREDA listing date, grey market sentiment is still bullish. According to market observers, IREDA share price is quoting at a premium of 12 in grey market today.

IREDA IPO GMP today

Market observers said that IREDA IPO grey market premium (GMP) today is 12, which means grey market is expecting that IREDA share price will open at around 44 ( 32 + 12) per share levels on IREDA listing date i.e. today.

IREDA IPO listing price prediction

Speaking on IREDA IPO listing, Prashanth Tapse, Senior VP — Research at Mehta Equities said, "Despite being fully priced-in public offer, IREDA managed to receive overwhelming response from all sets of investors especially from the QIB segment which got oversubscribed by 104 times. Considering the high subscription demand and optimistic market mood a healthy 25 per cent and above listing gain can be assumed against the issue price of 32. We believe the listing premium is justified on the back of the company being tagged as leading PSU player in renewable energy financing and advisory services and a possible upgradation from a Mini Ratna to a Navratna company in near future which increases financial autonomy, allowing it to accelerate faster in the competition."

Asked about IREDA share price listing gain, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, "I am expecting IREDA share price to open at 8.50 to 12.50 per share premium. This means, an allottee may expect 25 per cent to 30 per cent listing gain on IREDA listing date. However, this listing gain may o further upside provided IREDA share price attracts high trade volume post-listing."

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 29 Nov 2023, 06:52 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App