It was oversubscribed and a lot of people were looking to invest in the stock. So the listing is quite justified, especially considering the valuation. It may offer good return in the short term considering the ongoing buzz around the green energy space.
I personally cannot say much about the stock without a detailed analysis. And I will probably wait for the elections to see if the stock would be good in the long term perspective. I was personally planning on investing in a solar farm and I noticed that most banks were offering very competitive rates(9-10% at the time for upto 70% of the project cost), so I don’t know what sets IREDA apart from the competition yet.
Wait for Tata Tech. You’ll be more shocked. 😛
Popular IPOs always give massive return on listing so I don’t see why you’re surprised. I made close to 100% within 40 days in Adani Wilmar trade(IPO+ bought right after listing).
