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Business News/ Markets / Ipo/  IREDA IPO: Share allotment declared. What GMP signals ahead of listing date

IREDA IPO: Share allotment declared. What GMP signals ahead of listing date

  • IREDA IPO GMP today: Shares of the state-owned company are available at a premium of 11 in grey market today, say market observers

IREDA IPO listing date: Most likely date for listing of shares is 29th November 2023.

IREDA IPO: Allotment status of the initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) is now available. Those who have applied for the public issue of this state-owned company can check IREDA IPO allotment status online by logging in at BSE website or at the official website of Link Intime Private Limited — official registrar of IREDA IPO. However, after declaration of IREDA IPO allotment, focus has now shifted towards IREDA IPO listing date, which is most likely on 29th November 2023 i.e. on Wednesday this week.

Meanwhile, ahead of IREDA IPO listing date, grey market is dropping strong signals in regard to IREDA share listing. According to 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 2 lower from its weekend GMP of 13. However, market observers maintained that the dip in grey market sentiment can be attributed to extended weekend. They said that 11 premium is still more than 34 per cent from IREDA IPO price band of 30 to 32 per equity share.

IREDA IPO listing price

Market observers said that IREDA IPO GMP today is 11, which means grey market is expecting IREDA IPO listing price at around 43 ( 32 + 11) on listing date.

However, stock market experts maintained that grey market premium is not an ideal indicator about the listing gain as it is non regulated and completely speculative. They said that GMP has no connect with financials of the company. So, one should stick to the basics and follow the conviction they have developed after scanning the balance sheet of the company before investing.

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Asit Manohar

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