Green Finance / PSU NBFC - Listed on 29 November 2023
IREDA (Indian Renewable Energy Dev Agency) (Green Finance / PSU NBFC) closed its IPO window in 2023 and listed on NSE and BSE on 29 November 2023 at an upper band issue price of Rs 32, opening at Rs 50 for a listing gain of +56.3% and closing day one at Rs 60 (+87.5% on closing basis). The IPO was subscribed 38.79x overall - QIB 104.57x, HNI/NII 24.16x, Retail 7.71x. The total issue size was Rs 2,150.21 Cr (Fresh Issue Rs 1290.13 Cr, OFS Rs 860.08 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Green Finance / PSU NBFC
IREDA (Indian Renewable Energy Dev Agency) operates in the Green Finance / PSU NBFC space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The IREDA (Indian Renewable Energy Dev Agency) issue was offered at an upper price of Rs 32 and raised approximately Rs 2,150.21 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 7 | +21.88% |
| Day 2 | Rs 8 | +25.00% |
| Day 3 | Rs 8 | +25.00% |
| Day 4 | Rs 7 | +21.88% |
| Day 5 | Rs 7 | +21.88% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the IREDA (Indian Renewable Energy Dev Agency) IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
IREDA (Indian Renewable Energy Dev Agency) IPO listed at +56.3% versus the upper issue price of Rs 32 on 29 November 2023.
IREDA (Indian Renewable Energy Dev Agency) IPO was subscribed 38.79x overall. QIB portion was subscribed 104.57x, HNI / NII 24.16x and Retail 7.71x.
IPO GMP started at Rs 7 on Day 1 and moved to Rs 7 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.