IREDA IPO allotment status now available online; GMP suggests modest debut

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IREDA IPO allotment status now available online; GMP suggests modest debut
Credit: © Reuters.

Investors interested in the Indian Renewable Energy Development Agency's (IREDA) initial public offering (IPO) can now check their allotment status online. The information became accessible today through the Bombay Stock Exchange (BSE) website and Link Intime Private Limited, a registrar to the offer.

As the anticipated listing date on Wednesday, November 29, 2023, draws near, market participants are observing the shares' performance in the grey market. IREDA's IPO shares are currently trading at a grey market premium (GMP) of ₹11 over the IPO price band of ₹30-32. This positions the expected listing price at around ₹43.

However, financial experts caution that GMP is a speculative indicator and that investment decisions should be based on a thorough analysis of the company's fundamentals rather than predictions from the grey market. The grey market is an unofficial market where IPO shares are traded before they are officially listed on stock exchanges. Prices in the grey market can provide an early indication of demand and potential listing performance, but they are not always reliable.

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