This is to share with you that the Indian Renewable Energy Development Agency (IREDA) IPO is all set to open. Yes, you heard it right, the much-awaited update has come, IREDA IPO is ready to open in the market. When will the IREDA IPO open? If this question is swelling in your mind, stick with this page and keep reading this article. According to the reports, the IPO price for the IREDA equity share has been fixed. Since it was announced that the IREDA IPO is opening soon, investors have set their keen eyes on it. If you are also scrambling to the web regarding the same, the following sections are waiting for you. Continue reading this article and take a look below.
According to the report, the Indian Renewable Energy Development Agency IPO opening date for subscription date is set for Tuesday, November 21, 2023. The IPO will remain open for subscription for three days as it will close on Thursday, November 23. When will the allocation to anchor investors for the IREDA IPO take place? It is said that the allocation to anchor investors is scheduled to happen a day earlier than the subscription opening date, on Monday, November 20, 2023. Continue reading this article and read more details.
Speaking of the price band of the Indian Renewable Energy Development Agency IPO, it is fixed in the range of Rs 30 to Rs 32 per equity share with a face value of Rs 10. Reportedly, the floor price of the IPO is 3 times the face value of the equity shares while the cap value is 3.20 times the equity shares’ face value. Talking about the price/earning ratio, it is based on diluted EPS at the floor price is 7.94 times while the cap value is 8.47 times for fiscal 2023. What is the lot size of the IREDA IPO? Swipe down the page.
The lot size of the IREDA IPO is 460 equity shares and further in the multiples of 460 equity shares. The Indian Renewable Energy Development Agency Limited IPO has not reserved more than 50% of the shares for Qualified Institutional Buyers (QIB) in the public issue, more than 15% for NII (Non-Institutional Investors), and over 35% of the offer is reserved for Retail Investors. The firm’s listed industry peers are Power Finance Corporation with a P/E of 4.79 and REC Ltd with a P/E of 7.71. Stay tuned to this website.