Shares of state-run IREDA up 56.3% in pre-open debut trade

Indian state-run IREDA up 56.3% in pre-open debut trade valuing the firm at ₹134.39 billion.

Shares of Indian Renewable Energy Development Agency (IREDA) surged 56.3% in their pre-open trading debut on Wednesday, valuing the state-owned firm at 134.39 billion rupees ($1.61 billion).

The stock was at 50 rupees in pre-open trade(rep image)

The stock was at 50 rupees in pre-open trade, compared with its initial public offer (IPO) price of 32 rupees.

The benchmark Nifty 50 index was up 0.5%.