Indian Renewable Energy Development Agency (IREDA) IPO continued to receive a robust response from investors. The issue was subscribed 4.56 times on the second day of bidding, November 22, 2023.
IREDA IPO Day 2: Check GMP Today, Subscription Status; the Rs 2,150-crore IPO receives bids for 1,18,14,90,220 shares against 47,09,21,451 shares on offer
The IPO of IREDA was booked 3.41 times so far on the second day of the bidding process, led by strong interest from non-institutional investors, whose category was subscribed 5.73 times. IREDA shares are commanding a premium of Rs 10 in the unlisted market against an offer price of Rs 31.
IREDA IPO | The public issue of 67.19 crore equity shares comprises a fresh issue of 40.31 crore shares worth Rs 1,290.13 crore, and an offer-for-sale (OFS) of 26.87 crore shares worth Rs 860.08 crore by the Government of India.
Analysts seem to be veering towards Tata Tech IPO as they believe it is a must apply not only based on the grey market trends for listing gains, but also for its long-term prospects due to Tata s lineage and healthy financials.