IREDA IPO GMP, Open & Close Date, Process To Apply

IREDA IPO GMP:- The Indian Renewable Energy Development Agency (IREDA) is the first public sector company to do an IPO after Life Insurance Corporation’s public offering which was made public in May of last year. Starting on November 21 and ending on November 23, the state owned Indian Renewable Energy Development Agency (IREDA) will be holding its first public offering (IPO). The IREDA IPO allocation is expected to be finished on 29 November 2024. You get every information regarding IREDA IPO GMP in this article.

IREDA IPO GMP

A public limited corporation under government ownership is Indian Renewable Energy Development Agency Limited. Under the administrative supervision of the Ministry of New and Renewable Energy IREDA the Mini Ratna (Category-I) status is a fully owned government organization. The first public offering (IPO) of the Indian Renewable Energy Development Agency (IREDA) is scheduled to take place from November 21 to November 23. 

IREDA IPO GMP

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The IPO is scheduled to start Through a new share offering and the sale of 860.08 crore (268,776,471) equity shares each having a face value of Rs.10 the Mainboard IPO seeks to raise Rs.2150.21 crores. With a market lot of 460 shares the pricing range for the IREDA IPO is set at Rs.30 to Rs.32 per share. For individual investors, a minimum investment of rs.14,720 is needed. A minimum lot size investment is 68 lots (31,280 shares) or 14 lots (6,440 shares) at rs.206,080 for sNII and rs.1,096 for bNII.

Overview of IREDA IPO GMP

Name of the Article IREDA IPO GMP
IREDA IPO Allotment Starting Date21 November 2024
IREDA IPO Allotment Last Date23 November 2024
IPO PriceRange Between IREDA IPO is Rs.30 to Rs.32 per Share
Total IPO GMPRs.5 per Share
Allotment Finalizing Date28 November 2024
Share transfer of IPO Date29 November 2024
IPA Listing Date4 December 2024
Retail Quota35%
IPO SizeRs.2150 Crores
IPA Listing onNSE, BSE
IREDA IPO GMP

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IREDA IPO GMP, Listing Date and Allotment

IREDA is in the role of funding renewable energy sources and assisting the value chain of the power sector. Fedfina, a Non-Banking Financial Corporation (NBFC) that funds housing and gold loans is one of the other companies in the banking sector. The chemical industry participant Gandhar Oil Refinery India and consumer items from the plastics industry other companies include the writing tool expert Flair. The Indian Renewable Energy Development Agency (IREDA) and Mukka Proteins may also enter the main market while Allied Blenders & Distillers may initiate an initial public offering.  

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The subscription period for the Gandhar Oil Refinery India IPO begins on 21 November 2024, and ends on 23 November 2024. On 29 November 2024 the allocation for the Gandhar Oil Refinery India IPO is anticipated to be completed. The BSE and NSE will host the Gandhar Oil Refinery India IPO with a provisional listing date of 4 December 2024. Additionally, Allied Blenders & Distillers, a liquor corporation that manufactures and distributes its own alcohol, could launch an initial public offering (IPO). One of the few small initial public offerings (IPOs) that has the potential to raise between Rs.200 and Rs.250 crore and go public is Mukka Proteins. 

IREDA IPO GMP

One government agency that manages financing for renewable energy sources such as solar, wind, hydropower and so on is the Indian Renewable Energy Development Agency (IREDA). Since PFC finances both renewable energy and alternative energy sources, they fall under the same category as REC. It supports every step of the value chain in the electrical industry.

Applying Procedure of IREDA IPO

  • Enter your login information to get access to the Upstox application. 
  • Make a choice on the IPO. The IPO Name, IREDA will be shown. 
  • You have to click on the bid button.
  • Now verify your submission.
  • Go to your UPI App on Net Banking or the BHIM App to approve the mandate. 
  • Open an upstox Demat Account.

Leading Managers of IREDA IPO

IREDA IPO lead managers, commonly referred to as merchant bankers:

  • BOB financial Market Inc
  • Limited by SBI Capital Markets
  • Securities and IDBI Capital Markets Limited

FAQs IREDA IPO GMP

What is the IREDA IPO?

The IREDA initial public offering (IPO) is a main-board offering of 671,941,177 equity shares with a face value of Rs.10, totaling Rs.2,150.21 crores. The share price of the offering is between Rs.30 and Rs.32. 460 Shares is the minimum order quantity. 

When will the IREDA IPO open?

On 21 November 2024, the IPO will be available to retail and NII investors.

Expected returns for the IREDA IPO?

The expected return for IREDA is 13%.

When is the IREDA IPO allocated?

On Wednesday, 29 November 2024, the Basis of Allotment for the IREDA IPO will be finalized. On 1 December 2024, the assigned shares will be deposited to your demat account. Verify the allocation status of the IREDA IPO.

How to Apply the IREDA IPO?

Through ASBA online and your bank account, you may apply for the IREDA IPO. Additionally, through your stock brokers, you may apply online for ASBA using UPI. By completing the offline application, you may also apply through your stock brokers.

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