The shares of Indian Renewable Energy Development Agency (IREDA) made a strong market debut today, listing at a 56.25% premium over the IPO issue price. At the closing of the day, the stock was trading at Rs 55.7, up 11.4% from its listing price of Rs 50. The company’s shares were up 74% from the issue price
IREDA’s Performance:
The renewable energy financing company saw a strong response from investors, with the IPO being oversubscribed by 38.8 times. This indicates a high level of investor confidence in the company’s strong fundamentals and growth potential .
Market Capitalization:
Post-listing, IREDA’s market capitalization stood at Rs 13,438 crore on BSE, reflecting a strong start for the company .