IREDA IPO: Share allotment declared. What GMP signals ahead of listing date
IREDA IPO: Allotment status of the initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) is now available. Those who have applied for the public issue of this state-owned company can check IREDA IPO allotment status online by logging in at BSE website or at the official website of Link Intime Private Limited — official registrar of IREDA IPO. However, after declaration of IREDA IPO allotment, focus has now shifted towards IREDA IPO listing date, which is most likely on 29th November 2023 i.e.
on Wednesday this week. Meanwhile, ahead of IREDA IPO listing date, grey market is dropping strong signals in regard to IREDA share listing. According to market observers, shares of IREDA Ltd are available at a premium of ₹11 in grey market today.
Market observers said that IREDA IPO grey market premium (GMP) today is ₹11, which is ₹2 lower from its weekend GMP of ₹13. However, market observers maintained that the dip in grey market sentiment can be attributed to extended weekend. They said that ₹11 premium is still more than 34 per cent from IREDA IPO price band of ₹30 to ₹32 per equity share.
Market observers said that IREDA IPO GMP today is ₹11, which means grey market is expecting IREDA IPO listing price at around ₹43 ( ₹32 + ₹11) on listing date. However, stock market experts maintained that grey market premium is not an ideal indicator about the listing gain as it is non regulated and completely speculative. They said that GMP has no connect with financials of the company.
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