This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXNPEB6U08A_M.jpg
Despite the launch of Tata Technologies’ IPO attracting investor attention, IREDA’s offering concluded on Thursday with a remarkable oversubscription rate, particularly from Qualified Institutional Buyers (QIBs), who subscribed over one hundred times the shares offered. This robust demand is indicative of solid investor confidence in IREDA’s growth prospects and its role in financing renewable energy projects.
The excitement around the IPO has been further bolstered by a strong GMP, suggesting a potential listing gain of nearly forty percent. While the market will be closed on Monday for Gurunanak Jayanti, all eyes are on the expected market debut of IREDA shares post-T+1 settlement cycle.
Investors eager to check their share allotment status can do so through the Bombay Stock Exchange’s official site or Link Intime India Private Ltd’s dedicated portal. The issue price was set at ₹32 per share, with IREDA already having raised ₹643 crore from anchor investors before the public offering.
The proceeds from this issuance are intended to enhance IREDA’s capital base, supporting its future capital requirements and lending initiatives. Operating under Mini Ratna status, IREDA offers a suite of financial products and services designed to advance renewable energy projects across India.
The success of this IPO reflects the growing interest in sustainable and renewable energy investments. The offer was managed by financial institutions including SBI Capital Markets, IDBI Capital Markets and Securities, and BOB Capital Markets. Following its successful IPO, IREDA will be listed on both the BSE and NSE platforms.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
