The initial public offering (IPO) of IRM Energy opened for subscription on Wednesday and will close on Friday. Through the IPO, the company plans to raise ₹545 crore, of which ₹160.35 crore were raised from anchor investors on the eve of the opening of the subscription, reported HT's sister website Mint.
As per Karan Kaushal, CEO, IRM Energy, a total of ₹307.26 crore from the net proceeds will be used to fund capital expenditure requirements for developing the city gas distribution network in Namakkal and Tiruchirappalli in Tamil Nadu in the coming years.
IRM Energy IPO GMP today
The grey market premium (GMP) in this case is ₹70 per share. GMP is a premium amount paid at which IPO shares of a company are listed before being listed on the stock exchanges.
Price band
According to Mint, the price band has been fixed in the range of ₹485- ₹505 per equity share, with the IPO being a completely fresh issue of 1.08 crore equity shares, each with a face value of ₹10. Also, there is no offer for sale (OFS) component.
Important dates
{{^htLoading}} {{/htLoading}}
{{^usCountry}}
The gas distribution firm will finalise the allotment of shares on October 27, and initiate refunds on the same day; the shares will be credited to the demat accounts of the allottees on October 30. These are likely to be listed on the stock exchanges on October 31.
{{/usCountry}}
{{#usCountry}}
The gas distribution firm will finalise the allotment of shares on October 27, and initiate refunds on the same day; the shares will be credited to the demat accounts of the allottees on October 30. These are likely to be listed on the stock exchanges on October 31.
{{/usCountry}}
It must be noted, however, that the dates will be preponed if the company switches to the ‘T+3’ norm.
Book running lead managers
HDFC Bank Limited and Bob Capital Markets Limited are the book running lead managers, while Link Intime India Private Limited is the registrar.
IRM Energy IPO subscription status
On the opening day, the bidding will begin at 10 am.
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Home/Business/IRM Energy IPO subscription opens: Check GMP today, and other details
{{^htLoading}}
Advertisement
{{/htLoading}}
SHARE THIS ARTICLE ON
{{#usCountry}}{{/usCountry}}
Hindustantimes wants to start sending you push notifications. Click allow to subscribe
