IREDA IPO Listing Day; Receives Strong Investors Response
The PSU, IREDA received a strong investor demand by listing widely and with the IPO being subscribed 38.8 times.
New Delhi: The Mini Ratna government enterprises, India Renewable Energy Development Agency (IREDA) today on November 29 made an impressive market debut by listing at a 56.25 percent premium to the issue price of Rs 32. The stock opened at Rs 50 on both NSE and BSE.
The PSU, IREDA received a strong investor demand by listing widely and with the IPO being subscribed 38.8 times. The high subscription was attributed to IREDA's strong financials, its position as a leading player in the renewable energy sector, and the government's focus on promoting renewable energy development in India.
IREDA's strong IPO listing is a positive and powerful sign for the Indian renewable energy sector and for the overall health of the Indian stock market. Reflecting to increase the investor's interest in renewable energy companies.