IRM Energy Limited
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Having completed its public offering, IRM Energy Limited's is now listed and trading on the NSE, BSE exchange as of Oct 26, 2023. The IPO raised cumulative capital of 1,01,00,000 Shares, including 1,08,00,000 Shares in primary capital infusion.
The IPO was conducted with a price range of ₹480 to ₹505 and minimum investment requirement of 29 shares. subscription activity between Oct 18, 2023 and Oct 20, 2023 reflected market assessment of the offering's valuation and prospects.
The allotment process finalized on Oct 24, 2023 distributed equity ownership to successful bidders. The listing established a transparent market mechanism for share trading, price discovery, and investor participation in the company's future growth.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in 2015, IRM Energy Limited is a gas distribution company engaged in developing, operating, and expanding local natural gas networks. The company serves industrial, commercial, domestic, and automobile customers across Banaskantha in Gujarat, Fatehgarh Sahib in Punjab, and Diu & Gir-Somnath in Daman & Diu and Gujarat. IRM Energy caters to 48,172 domestic clients, 179 industrial units, and 248 commercial clients, operating 216 CNG stations as of September 2022. The company was recognized as the City Gas Distribution – Growing Company of the Year 2020 by the Federation of Indian Petroleum Industries.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
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