Red-hot stock IREDA is trying hard to stand out

After a successful IPO, retail investors’ interest in the public sector company keeps going up. But exits by institutional investors call for offering something different from peers.

The meteoric rise in Indian Renewable Energy Development Agency’s stock may have gone too far and too fast for its own good.

Ever since the public sector company made its market debut on 29 November 2023, shares have rallied 2.7x despite witnessing sharp correction in February. If you were one of the lucky few to have been allotted shares in its initial public offering, you’d be sitting at a 5x increase in your investment in just a matter of five months. The frenzy in IREDA’s shares peaked at the start of April when it announced 101% growth in loan sanctions, …

Author

Azman Usmani

Azman writes on climate change, ESG, and how a warming world impacts businesses and people alike. Prior to The Morning Context, he led climate coverage at BloombergQuint, where he started his career as a desk writer.

Writer

azman@mailtmc.com

Mumbai