#A3RT @arbindtiwariT

The Indian Renewable Energy Development Agency #IREDA surged 87% on its market debut on November 29 backed by strong market conditions, healthy IPO subscription figures and expected growth in the renewable energy space.

The blockbuster debut saw the government-owned firm’s market capital nearly double to Rs 16,124 crore.

The stock listed at a higher-than-expected price of Rs 50 on the National Stock Exchange, up 56% from the issue price of Rs 32. Analysts had expected IREDA to list at around 30-35% premium over the issue price.