IREDA IPO listing at Rs 32, it reached Rs 112, an increase of 219% in just 10 days.



Today in this article we will tell you about a stock that was listed on 21 November and within just 20 days the share price of 32 rupees went to 112 rupees.

IREDA’s IPO hit a 10% upper circuit today and traded at Rs 85 per share, up 219% year-to-date since the IPO listing.

IREDA’s Retail Division Launch Propels Stock to 20% Upper Circuit

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On Monday, the shares of Indian Renewable Energy Development Agency Ltd (IREDA) experienced a significant surge, hitting the 20% upper circuit limit at ₹112 per share on BSE. This surge was attributed to the recent announcement of the launch of IREDA’s retail division, a strategic move by the Central Public Sector Enterprise (CPSE) to expand its lending services.

Retail Division Focus and Launch Details

IREDA’s retail division, inaugurated on December 5, has a specific focus on initiatives such as the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) Scheme, rooftop solar projects, and various business-to-consumer (B2C) segments related to loans. The stock’s remarkable uptick on December 11, 2023, was a direct response to this significant development.



Impressive Stock Performance and Trading Activity

During Monday’s trading session, IREDA’s shares rose by over 19.97% to reach ₹85 per share on NSE. Substantial trading volumes accompanied this notable uptick, and the stock garnered exclusive buyer interest. Over the past two trading days, IREDA’s shares recorded an impressive rally of 32%, reflecting investor confidence.

Financial Highlights

IREDA’s stock has experienced substantial trading activity, with a total turnover of 210.51 million equity shares. Outstanding buy orders total 18.31 million equity shares on both NSE and BSE. Notably, IREDA’s stock price has surged by an impressive 166%, surpassing its issue price of ₹32 per share since its market debut on November 29.

Market Entry and Portfolio Overview

IREDA made a notable entrance into the capital market, becoming the first public sector company to do so in over a year since the debut issue of Life Insurance Corporation of India in May 2022. The majority of IREDA’s asset portfolio comprises solar energy (30%), followed by wind power (20.9%), state utilities (19.2%), and hydropower (11.5%). This diversified portfolio underscores IREDA’s commitment to renewable energy development.

Solar Energy 30%
Wind Power 20.9%
State Utilities 19.2%
Hydropower 11.5%

In summary, IREDA’s foray into the retail sector and the subsequent positive market response signal a promising trajectory for the company, further solidifying its position in the renewable energy financing landscape.

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