IRM Energy IPO Day 3: Check GMP, subscription status, should you subscribe?
₹70 per share. This indicates IRM Energy shares were trading at a premium of ₹70 in the grey market on Friday, as per market observers. 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 ₹575 apiece, which is 13.86% higher than the IPO price of ₹505.
IRM Energy IPO has been subscribed 4.36 times so far on Friday, the third and the last day of the bidding process. The public issue received bids for 3.32 crore equity shares as against 76.24 lakh shares on the offer, as per data available on NSE. The public issue was subscribed 4.36 times in the retail category, and 9.09 times in the Non-Institutional Investors’ (NII) category so far.
The Qualified Institutional Buyers’ portion was booked 1.18 times and the employee portion was booked 94%. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) IRM Energy Ltd commenced its operations in 2015 and has delivered a strong performance throughout its journey. Company has delivered revenue growth at 88% CAGR between FY20-23 with 63% volume growth and other listed industry players have delivered volume growth of an average rate of ~3-4% in FY20-23.
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