IRM Energy IPO: Check GMP today, subscription status, should you subscribe?
₹480 to ₹505 per equity share. IRM Energy IPO is completely a fresh issue of 1.08 crore equity shares of face value of ₹10 each and there is no offer for sale (OFS) component. At the upper end of the price band, the company plans to raise ₹545.40 crore from the public issue.
The company's promoters are Cadila Pharmaceuticals Limited, Dr. Rajiv Indravadan Modi, and IRM Trust. IRM Energy IPO lot size is 29 equity shares and in multiples of 29 equity shares thereafter.
The minimum investment amount required by retail investors is ₹14,645. The company already raised ₹160.35 crore from anchor investors on October 17, a day ahead of its IPO subscription opening for bidding. Also Read: IRM Energy IPO: Firm mobilises ₹160 crore from anchor investors ahead of issue Between the financial year ending on March 31, 2023, and March 31, 2022, IRM Energy Ltd.
witnessed a 90.3% increase in revenue and a 50.69% drop in profit after tax (PAT). The company intends to use the net proceeds from the offering to fund the following goals: prepayment or repayment of certain outstanding borrowings, general corporate purposes and funding capital expenditure requirements. IRM Energy IPO basis of allotment of shares will be finalised on Friday, October 27 and the company will initiate refunds on the same day, while the shares will be credited to the demat account of allottees on Monday, October 30.
IRM Energy IPO shares are likely to be listed on BSE and NSE on Tuesday, October 31. If in case, the company decides to switch to T+3 norm, the dates will get preponed. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The book running lead managers of the
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