State-run Indian Renewable Energy Development Agency (IREDA) Ltd. saw a block deal in Tuesday's trading session where 1.85% or 5 crore shares of the company's total equity changed hands.
The transaction is valued at ₹767 crore, based on the data available.
Buyers and sellers in the transaction are not officially available.
Shares of IREDA made their stock market debut in December last year at an IPO price of ₹32. Since then, the stock rose over 6x from its issue price, rising to a record high of ₹214 per share on February 6 this year.
The stock though has cooled off from those highs, making a new low of ₹143.9 in today's trading session. This implies a correction of 32.7% from its peak.
However, post the block deal, the stock is locked in an upper circuit of 5% at ₹159.05. The government holds a 75% stake in IREDA.
Out of the 25% public shareholding, India's Mutual Funds own a 2.8% stake in the company. No other significant name appears in the list of IREDA's public shareholders.
IREDA's stock has snapped a two-day losing streak after Tuesday's gain. On both those days, the stock was locked in a lower circuit of 5%.
(Edited by : Amrita)
First Published: Feb 27, 2024 10:09 AM IST
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