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Business News/ Markets / Ipo/  IRM Energy IPO listing: IRM Energy share price debuts at 5.5% discount at 477.25 on NSE

IRM Energy IPO listing: IRM Energy share price debuts at 5.5% discount at ₹477.25 on NSE

IRM Energy share price listed at a discount on bourses, 5.49% lower than issue price. Grey market premium indicated higher listing price for IRM Energy.

IRM Energy IPO shares list on the bourses today.Premium
IRM Energy IPO shares list on the bourses today.

IRM Energy listing date: IRM Energy share price was listed on the bourses at a discount on Thursday. On the NSE, IRM Energy share price was listed at 477.25 per share, 5.49% lower than the issue price of 505, and on the BSE, IRM Energy share price was listed at 479 per share.

IRM Energy IPO opened for subscription on Wednesday, October 18, and closed on Friday, October 20. IRM Energy IPO price band has been set in the range of 480 to 505 per equity share of face value of 10.

IRM Energy IPO reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors. A discount of 48 per equity share was offered to eligible employees bidding in the employee reserve portion.

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IRM Energy Limited IPO was subscribed 27.05 times on the last day. On the final day of the subscription, qualified institutional buyers (QIBs) and non-institutional investors oversubscribed to the issue following a fantastic response from retail investors. Retail subscribers subscribed 9.29 times, while Non-Institutional Investors subscribed 48.34 times, and Qualified Institutional Buyers subscribed 44.73 times. 2.05 subscribers made up the employee portion.

IRM Energy IPO has been subscribed 4.37 times on day 2, and the first day of bidding for the IRM Energy IPO saw 1.71 times subscription.

Also Read: IRM Energy IPO listing date today. Here's what GMP, experts signal

IRM Energy IPO details

IRM Energy IPO is completely a fresh issue of 10,800,000 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

The company intends to use the net proceeds from the offering to fund the following goals: prepayment or repayment of all or a portion of certain outstanding borrowings obtained by the company; general corporate purposes; and funding capital expenditure requirements for development of the City Gas Distribution network in the Geographical Areas of Namakkal and Tiruchirappalli (Tamil Nadu) in Fiscal 2024, Fiscal 2025, Fiscal 2026, and Fiscal 2027, according to the Red Herring Prospectus (RHP).

The book running lead managers of the IRM Energy IPO are HDFC Bank Ltd and Bob Capital Markets Ltd, and the registrar is Link Intime India Private Ltd.

Also Read: IRM Energy IPO: Issue fully booked on day 2, check GMP, should you subscribe?

IRM Energy IPO GMP today

IRM Energy Limited IPO GMP today or grey market premium is +18. This indicated IRM Energy share price was trading at a premium of 18 in the grey market on Thursday, according to

Also Read: IRM Energy IPO opens tomorrow: GMP, issue details, 10 key things to know

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of IRM Energy share price was indicated at 523 apiece, which is 3.56% higher than the IPO price of 505.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

Also Read: IRM Energy IPO: What does the latest GMP signal ahead of listing; check key details 





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Published: 26 Oct 2023, 10:00 AM IST
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