IREDA Share Price Hits 20 pc Upper Circuit: Surges a Massive 165 pc from IPO Price in Less Than 15 Days

IREDA Share Price News Today NSE, BSE, IREDA Share Price History: Indian Renewable Energy Development Agency (IREDA) share price hit the upper circuit of 20 per cent on Monday, December 11 in the early trade to quote at Rs 85.02 a share on the Bombay Stock Exchange (BSE). The stock climbed 19.97 per cent from its previous close at Rs 70.85 apiece on the BSE.

State-owned IREDA share price had an upper price band of Rs 32 in the Initial Public Offering (IPO), the counter is currently trading at Rs 85.02 apiece on the BSE which means the stock price went up by nearly 165 per cent of its upper price band.

IREDA shares made a remarkable stock market debut on November 29, ending with a premium of 87.5 per cent, against the issue price of Rs 32. The stock listed at Rs 50, up 56.25 per cent from the issue price on both the BSE and NSE. During the day, it rallied 87.46 per cent to Rs 59.99 on the BSE. On the NSE, the stock ended at Rs 60 apiece, soaring 87.5 per cent. Going by the current market price, the scrip has given 85 per cent returns compared to the listing price.

A total of 214.21 lakh shares changed hands today amounting to a high turnover of Rs 171.65 crore on the BSE. The company commanded a market valuation of Rs 22,851.38 crore.

The company is in news after it announced to float a retail division for providing loans under PM-KUSUM scheme, Rooftop Solar, and other Business-to-Consumer (B2C) sectors.

This was the first public issue by a public sector enterprise after Life Insurance Corporation's IPO in May last year. Proceeds from the fresh issue will be used for augmenting IREDA's capital base to meet its future capital requirements and onward lending. IREDA is a mini Ratna firm under the administrative controls of the Ministry of New and Renewable Energy.

The organisation offers a comprehensive array of financial products (fund- and non-fund-based) associated services, from project inception to post-completion, for renewable energy projects and related activities like equipment manufacturing and transmission.

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