IREDA makes stellar debut, settles with 87% premium
New Delhi, November 29
Shares of Indian Renewable Energy Development Agency (IREDA) made a remarkable stock market debut on Wednesday, ending with a premium of 87.5%, against the issue price of Rs 32.
The stock listed at Rs 50, up 56.25% from the issue price on both the BSE and the NSE. During the day, it rallied 87.46% to Rs 59.99 on the BSE. On the NSE, it ended at Rs 60 apiece, soaring 87.5%.
The company commanded a market valuation of Rs 16,123.90 crore.
In volume terms, 381.55 lakh shares of the firm were traded on the BSE and over 57.98 crore shares on the NSE during the day.
The IPO of IREDA was subscribed 38.80 times on the last day of bidding on Thursday. It had a fresh issue of up to 40,31,64,706 equity shares and an offer for sale component of up to 26,87,76,471 equity shares.
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