IRM Energy IPO Allotment Status, Refund, Demat Account Credit

IRM Energy IPO Allotment Status

The IPO for IRM Energy started on October 18, 2023, and will close on October 20, 2023. Learn about the subscription status and more.

The IPO of IRM Energy, which began on October 18, 2023, and ended on October 20, 2023, aims to raise approximately ₹545 crores. The IPO consists of a new issue of 10,100,000 equity shares at a price of ₹10 each. The allotment status is expected on October 27, 2023, with refunds starting the same day. The shares are anticipated to be credited to demat accounts by October 30, 2023, and the listing is scheduled for October 31, 2023.

IPO Open	October 18, 2023
IPO Close	October 20, 2023
IPO Size	Approx ₹545 Crores
Fresh Issue	Approx 10,100,000 Equity Shares
Face Value	₹10 Per Equity Share
IPO price band	₹480 to ₹505 per share
Retail Quota	35%
QIB Quota	50%
NII Quota	15%
Basis of Allotment	October 27, 2023
Initiation of Refunds	October 27, 2023
The credit of Shares to Demat	October 30, 2023
Listing Date	October 31, 2023
IPO Listing on	BSE & NSE

Subscription Details

On the final day of bidding, the IRM Energy IPO had 4.36 subscriptions. Retail subscriptions reached 4.36, while non-institutional investor subscriptions were at 9.09. The IPO price range is set between ₹480 and ₹505 per equity share.

Grey Market Premium

The grey market premium (GMP) for IRM Energy Limited stands at ₹70 per share, indicating a strong demand for the shares.

How to Check Allotment Status

To check the IRM Energy IPO allotment status:

Visit the official website of the registrar or stock exchange.
Navigate to the IPO allotment status page.
Enter required details like PAN number or application number.
Submit the information to view your allotment status.

Objectives of the Issue

The IPO aims to finance capital outlays for the construction of the city gas distribution network in Tamil Nadu and for general corporate purposes, including repayment of borrowings.

Issue Details and Reservation

The IPO offers shares at a price range of ₹480–500 per share. Retail investors have a quota of 35%, while QIBs have 50% and NIIs have 15%.

Review

IRM Energy Ltd has shown impressive growth since its inception in 2015, with significant volume and revenue growth. The company’s expansion plans and valuation make it an attractive investment opportunity.

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IRM Energy IPO Allotment Status, Refund, Demat Account Credit, Listing