IREDA IPO Listing date today. GMP, experts estimate up to 50%.

IREDA IPO: The Indian Renewable Energy Development Authority (IREDA) Limited’s initial public offering (IPO) is scheduled for November 29, 2023. As per information available on the BSE website, the shares will be listed and admitted to trading on the ‘B’ list of the stock exchange from that date. The IREDA share price will be displayed on both BSE and NSE during a special opening session on Wednesday.

IREDA IPO GMP

Market experts suggest a positive response from investors, especially in the Qualified Institutional Buyer (QIB) segment. The mood on Dalal Street is optimistic, potentially leading to a premium opening for IREDA shares, ranging from ₹8.50 to ₹12.50 per share. Analysts anticipate a listing gain of 25-30% for allottees on the IPO registration date.

In the gray market, the sentiment remains strong, with IREDA share price quoting at a premium of ₹12. This implies an expected opening level of around ₹44 per share on the listing date. Prashanth Tapse, Senior VP – Research at Mehta Equities, highlights the overwhelming response to the IPO, especially from the QIB segment, and predicts a gain of 25% or more against the issue price. He justifies the premium listing based on IREDA’s position as a leading PSU player in financial services and renewable energy consultancy.

Arun Kejriwal, founder of Kejriwal Research and Investment Services, expects the IREDA share price to open between ₹8.50 and ₹12.50 per share, translating to a potential listing gain of 25-30%. The positive listing may attract higher trading volumes post-listing.