IRM Energy IPO: What GMP, subscription status signal as focus shifts on allotment date

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IRM Energy IPO: Bidding for the initial public offering of IRM Energy Limited ended on Friday, 20th October 2023. In thre days of bidding from 18th Octover to 20th October 2023, IRM Energy IPO subscription status suggests that the public issue received strong response by investors across categories. However, due to weakness in secondary market for last three straight sessions, grey market sentiments has gone down in regard to IRM Energy IPO.

According to market observers, shares of IRM Energy Limited are available at a premium of ₹45 to rs 48 in grey market today. Market observers said that IRM Energy IPO grey market premium (GMP) today is around ₹48, which is ₹22 lower from its yesterday GMP of ₹70. They said that dip in grey market sentiments can be attributed to sell off pressure in Indian stock market for the last three successive days.

They said that there can be trend reversal in unlisted stock market sentiments once the secondary market mood gets changed. Plaza Wires shares double IPO allottees' money in seven post-listing sessions As per the information available on BSE website, IRM Energy IPO got subscribed 27.05 times wheres its retail portion got subscribed 9.29 times. The public issue got subscribed 48.34 times in NII category while it got subscribed 44.73 times in QIB segment.

Bombay Burmah Trading shares locked at 20% upper circuit to hit 52-week high In case of normal schedule, most likely IRM Energy IPO allotment date is 27th October 2023. However, in case of T+3 regime, IRM Energy shares will list on BSE and NSE on 25th October 2023 i.e. on Wednesday next week.