IREDA IPO: What GMP, subscription status signal? Allotment date, how to check status
IREDA IPO: Subscription for initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) closed on Thursday. As per IREDA IPO subscription status, the public issue got subscribed subscribed 38.80 times whereas its retail portion got subscribed 7.73 times. In the wake of T+3 schedule, most likely IREDA IPO allotment date is 28th November 2023 in case share allotment is not announced today.
Likewise, IREDA IPO listing date is most likely on 29th November 2023 i.e. on Wednesday next week. Meanwhile, after strong IREDA IPO subscription status, grey market has gone further bullish on the public offer.
According to market observers, shares of IREDA Ltd are available at a premium of ₹13 in grey market today. Market observers said that IREDA IPO has received strong response from investors and this could be the possible reason for rise in grey market sentiments in regard to the book build issue. They said that IREDA IPO GMP has risen from ₹7 to ₹13 in lst one week, which speaks volume about the buzz in regard to IREDA IPO in primary market.
They said that grey market has gone bullish despite choppy sentiments on Dalal Street in the week gone by. They predicted further upside in IREDA IPO if there is trend rversal on Dalal Street when Indian stock market opens on Tuesday after stock market holiday falling on Monday. Also Read: Tata Technologies IPO: GMP jumps after strong subscription status However, stock market experts maintained that GMP is not an ideal indicator about the success of failure of an IPO.
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