IREDA Shares Skyrocket 56.3% in Pre-Open Debut, Valuing Firm at ₹134.39 Billion
In a remarkable pre-open trading debut on Wednesday, shares of the Indian Renewable Energy Development Agency (IREDA) witnessed an impressive surge of 56.3%, establishing the state-owned firm's valuation at 134.39 billion rupees ($1.61 billion). During this pre-open session, the stock reached 50 rupees, a substantial increase from its initial public offering (IPO) price of 32 rupees. This surge also had a positive impact on the benchmark Nifty 50 index, which experienced a gain of 0.5%. The notable rise in IREDA's shares reflects the market's positive response to the renewable energy sector and the company's growth prospects.
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