IREDA IPO: The subscription period for the Indian Renewable Energy Development Agency's (IREDA) first public offering (IPO) ended on Thursday. According to the IREDA IPO subscription status, the public issue was subscribed to 38.80 times, while the retail component was subscribed to 7.73 times. In light of the T+3 schedule, the most likely IREDA IPO allotted date is November 28, 2023, assuming no share allotment is declared today. Similarly, the IREDA IPO listing date is most likely on November 29th, 2023, which is next Wednesday.
Meanwhile, following the strong IREDA IPO subscription status, the gray market has become even more enthusiastic on the public offering. According to market experts, shares of IREDA Ltd are currently available in the gray market at a premium of 13.
Today is the IREDA IPO GMP.
According to market observers, the IREDA IPO had a robust reaction from investors, which could explain the surge in gray market opinions regarding the book build issue. They stated that the IREDA IPO GMP has climbed from 7 to 13 in the last week, which says volumes about the hype around the IREDA IPO in the main market. Despite tumultuous feelings on Dalal Street in the previous week, they claim that the gray market has turned positive. They forecast additional upside in the IREDA IPO if a trend reversal occurs on Dalal Street when the Indian stock market reopens on Tuesday following the stock market vacation on Monday.
However, stock market analysts say that GMP is not an accurate predictor of an IPO's success or failure. They recommended bidders and market investors to stick to the fundamentals and rely on the company's balance sheet. They went on to say that the gray market is unregulated and utterly speculative because it has no connection to the company's financials.
Status of IREDA IPO subscriptions
Following three days of bidding from November 21st to November 23rd, 2023, the IREDA IPO subscription status indicates that the public issue was subscribed 38.80 times, while the retail component was subscribed 7.73 times. The QIB component was subscribed to 104.57 times, while the NII portion was subscribed to 24.16 times and the employee portion was subscribed to 9.80 times.
Status of IREDA IPO allotment
Bidders will be able to verify IREDA IPO allotment status online once it is published by signing in to the BSE website or the website of its official registrar, Link Intime Private Limited.
