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IREDA shares listing: IREDA stock listed at Rs 50 on BSE, a premium of 56.25% over the IPO issue price of Rs 32. Market cap of the firm stood at Rs 13,438 crore on BSE.
Ahead of the listing, IREDA shares traded at a premium of Rs 12.25 in the unlisted market. The IPO received an overwhelming response from investors, having been oversubscribed by 38.8 times, reflecting investor sentiment about the company's strong fundamentals and growth potential. Analysts believe India has ambitious renewable energy goals and IREDA is well positioned as the largest green financing NBFC to tap into the rapidly expanding sector growth.
The blockbuster debut saw the government-owned firm’s market capital nearly double to Rs 16,124 crore
IREDA shares zoomed 87.5% intraday to Rs 60 against the IPO price of Rs 32 on NSE. Market cap of the firm stood at Rs 16,126 crore on NSE.
IREDA IPO | This would be first government company listing after Life Insurance Corporation of India in May 2022, while it would also be the first amongst the five IPOs closed last week