IREDA IPO Oversubscribed 38.8 Times; Check Application Status, Allotment Date, Allotment Link, Listing Date Here

24 Nov 2023 , 08:48 AM

The Indian Renewable Energy Development Agency’s (IREDA) IPO witnessed strong demand, closing with a subscription rate of 38.8 times on November 23, the final day of bidding. Investors submitted bids for 1,827 crore equity shares against the offer size of 47.09 crore.

Qualified institutional buyers (QIBs) and high net worth individuals (HNIs) showed substantial interest, subscribing 104.57 times and 24.16 times their allotted quota of shares, respectively. The public sector undertaking (PSU) had reserved 50 percent of the offer for QIBs and 15 percent for HNIs.

Retail investors, allotted 35 percent of the net offer, also participated actively, subscribing 7.73 times their allotted quota. Employees, with a reserved portion of 18.75 lakh shares, bid 9.8 times for their allotted shares. This response reflects the significant demand across various investor categories for IREDA’s IPO.

The company will conclude basis of allotment on November 24. Those who have applied for the IPO can check allotment status of IREDA IPO at BSE website or on the Website of IPO registrar, Link Intime India. 

Investors need to provide the application number and PAN details to check the allotment status.

The shares of the Indian Renewable Energy Development Agency (IREDA) are scheduled to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Thursday, November 29.