IREDA's Stock Makes Impressive Debut, Closing With 87% Premium

Indian Renewable Energy Development Agency (IREDA) experienced an impressive stock market debut, concluding with a substantial premium of 87.5 per cent compared to the issue price of Rs 32.

Upon listing, the stock opened at Rs 50, marking a 56.25 per cent increase from the issue price on both the BSE and the NSE. Throughout the trading day, it surged by 87.46 per cent to reach Rs 59.99 on the BSE and closed at Rs 60 on the NSE, reflecting an 87.5 per cent increase.

IREDA's market valuation stood at Rs 16,123.90 crore. The trading activity was significant, with 381.55 lakh shares traded on the BSE and over 57.98 crore shares on the NSE.

During the IPO, which concluded with a subscription rate of 38.80 times on the last bidding day, IREDA offered 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.