IREDA stock lists at 56% premium to IPO price, mcap crosses Rs 13k crore

Shares of Indian Renewable Energy Development Agency (IREDA) made a strong market debut today, listing at a 56.25% premium over the IPO issue price. 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.

The stock listed at Rs 50 on NSE. Market cap of the firm stood at Rs 13,438 crore on NSE.

The price band of IREDA's IPO was Rs 30-32 apiece with a lot size of 460 shares. The issue was open for bidding between November 21 and November 23. The state-run PSU player raised a total of Rs 2,150.21 crore via IPO route, which included a fresh share sale of Rs 1,290.13 crore and an offer-for-sale (OFS) of 26,87,76,471 equity shares.

IDBI Capital Markets, BoB Capital Markets and SBI Capital Markets were the book running lead managers to the issue, while Link Intime India was the registrar for the issue.

The firm raised Rs 643.26 crore from 58 anchor investors including Goldman Sachs, Integrated Core Strategies (Asia), Societe Generale, GAM Star Emerging Equity, BNP Paribas Arbitrage, Moon Capital Trading, and Copthall Mauritius.

The company allotted 20,10,19,726 equity shares at Rs 32 apiece to the anchor investors which include 13 mutual funds. These 13 mutual funds have applied through a total of 32 schemes in the IREDA IPO anchor book.

IREDA is a Mini Ratna (Category - I) government enterprise. It is administratively controlled by the Ministry of New and Renewable Energy (MNRE). IREDA has been actively promoting, developing, and extending financial assistance for new and renewable energy projects, as well as energy efficiency and conservation projects for over 36 years.

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