IRM Energy IPO booked 18 times so far on last day. check GMP and other details
IPO) of IRM Energy has been witnessing robust response from investors with the overall subscription at 18 times so far on the third day of the bidding process. The issue closes on Friday i.e.
today
The NII portion of the issue was subscribed the most at 40.42x, followed by QIBs at 23.53x. The category reserved for retail investors was subscribed 8.4x.
According to market analysts, the company's shares are trading with a premium of Rs 45 in the unlisted market.
The IPO is priced in the range of Rs 480-505.
Analysts believe IRM Energy gives investors an opportunity to invest in one of the growing and emerging players in the city gas distribution segment in its geographical areas (GAs).
The issue is completely a fresh equity sale of 1.08 crore shares. The company is planning to raise about Rs 545 crore through the IPO.
About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.
