The Indian Renewable Energy Development Agency (IREDA) is set to launch its initial public offering (IPO) from November 21 to 23 with a face value of Rs 10 and up to 40.3 crore equity shares.
IREDA IPO GMP
A fully owned subsidiary of the Government of India (“GoI”), the Ministry of New and Renewable Energy (“MNRE”) is the governing body of the Ministry of Renewable Energy Development Agency (IREDA).
The subscription period for the IREDA IPO begins on November 21, 2023, and ends on November 23, 2023. On Wednesday, November 29, 2023, the allocation for the IREDA IPO is anticipated to be completed.
The provisional listing date for the IREDA IPO is set for Monday, December 4, 2023, by the BSE and NSE. A share in the IREDA IPO is priced between ₹30 and ₹32. The applicant lot size must include a minimum of 460 shares.
A minimum investment of ₹14,720 is required for retail investors. A minimum lot size investment of ₹206,080 for sNII and ₹1,096 for bNII is 14 lots (6,440 shares) or 68 lots (31,280 shares).
IREDA IPO GMP, Listing Date, and Allotment
Coming shortly is the largest and most important initial public offering (IPO) of Tata Technologies, which is in the defense industry.
A Non-Banking Financial Corporation (NBFC) that specializes in funding gold loans and homes, Fedfina, is one of the other businesses in the banking industry.
Other businesses include Flair, a writing tool specialist, Gandhar Oil Refinery India, a chemical industry player, and consumer goods from the plastics sector.
Allied Blenders & Distillers (ABD) may launch an IPO, while Mukka Proteins and the Indian Renewable Energy Development Agency (IREDA) may also enter the primary market.
IREDA is responsible for financing renewable energy sources and supporting the power industry’s value chain.
| IREDA IPO Allotment Starting Date | 21 November 2023 |
| IREDA IPO Allotment Ending Date | 23 November 2023 |
| IPO Price | Range Between IREDA IPO is ₹30 to ₹32 Per Share |
| Today IPO GMP | 5 INR Per Share |
| Allotment Finalizing Date | 28 November 2023 |
| Share Transfer of IPO Date | 29 November 2023 |
| IPA Listing Date | 4 December-2023 |
| Retail Quota | 35% |
| IPO Size | ₹2150 crores. |
| IPA listing On | NSE, BSE |
Ganghar Oil Refinery IPO GMP
There is also a possibility that Allied Blenders & Distillers (ABD), a liquor company that produces and sells its own alcohol, would have an initial public offering (IPO).
Mukka Proteins is one of a few modest initial public offerings (IPOs) that could obtain ₹200–250 crore and go public.
One government-affiliated organization that is in charge of funding renewable energy sources like solar, wind, hydro, and so on is the Indian Renewable Energy Development Agency (IREDA).
PFC and REC are in the same category since it finances alternative energy sources as well as renewable energy. In the electricity sector, it supports the full value chain.
Procedure to Apply for IREDA IPO
The ASBA that is available in your bank account can be used to submit an application for the IREDA IPO. To apply using your bank account and proceed to the online bank login, just select the IREDA IPO under the Invest section.
Applying for the IREDA IPO via IPO forms that may be downloaded from the NSE and BSE is an alternative.
Apply through UPSTOX
- To receive access to the Upstox application, provide your login credentials.
- Make an IPO decision. It will show the IPO Name, “IREDA”.
- Press the Bid Button. Verify your submission.
- To approve the mandate, navigate to your UPI App on Net Banking or the BHIM App.
- Open an Upstox Demat Account.
IREDA Company Review
IREDA, a Mini Ratna government enterprise, was established in 1987 and has been providing financial assistance for renewable energy projects for over 36 years.
With the highest loan sanctions and disbursements in FY 2021-22, IREDA aims to facilitate the transition towards a greener future by offering a range of financial products and services.
The IPO will consist of an offer for sale (OFS) of up to 268.78 million equity shares by the President of India, working through the Ministry of New and Renewable Energy, and a fresh issue of up to 403.16 million shares. Employees can reserve a subscription as part of the offer.
IPO IREDA Leading Managers
Merchant bankers, also known as IREDA IPO lead managers:
- BOB Financial Markets, Inc.
- Limited by SBI Capital Markets
- Securities & IDBI Capital Markets Limited
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