IRM Energy IPO: Retail portion fully booked within hours of opening. Check GMP and other details
The NII portion of the issue was booked the most at 1.01x, while that of retail investors was booked 1x. There were no bids yet from qualified institutional buyers (QIB).
According to market analysts, the company's shares are trading with a premium of Rs 67 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.
