The IPO date of IRM Energy is scheduled to launch in October 2023, however, it is not set in stone. With its IRM Energy IPO hopes to generate will be released. It will sell up to 10,100,000 equity shares for 10 each, as well as issue of new shares will be announced. HNI is 15%, QIB is 50%, and the retail quota is 35%. First Meridian Business Services Ltd., IRM Energy Ltd., and Lohia Corp. Are now able to seek cash via initial public offerings (IPOs) thanks to approval from capital markets regulator SEBI.
IRM Energy IPO
FirstMeridian Business Services Ltd.’s ₹740-crore initial public offering (IPO) consists of an offer-for-sale (OFS) of ₹690 crore and a new issue of equity shares valued at ₹50 Crore. The net proceeds of the new issuance will be used for general company operations and debt repayment. According to the draught documents, current shareholders New Lane Trading LLP and Seedthree Trading LLP would sell ₹42.5 crore and ₹32.5 crore, respectively, while the promoter of the staffing business FirstMeridian Business Services, Manpower Solutions Ltd, will sell ₹615 crore in shares as part of the OFS.
The first public offering (IPO) of the city gas distribution firm IRM Energy is a fresh issuance of up to 1.01 crore equity shares by current owners. As per the DRHP, the business plans to use the net proceeds for debt repayment, general corporate purposes, and capital expenditure needs for the construction of the Namakkal and Tiruchirapalli city gas distribution network in Tamil Nadu.
IRM Energy IPO GMP
The grey market isn’t a legitimate and regulated place to trade. When it comes to IPOs, “grey market trading” is purchasing and disposing of the impending offerings at a price over the range. Investors often look to the grey market premium because they recognize the broad demand for firm shares.
| IRM Energy IPO Dates | October 2023 |
| IRM Energy IPO Price | October 2023 |
| Fresh issue | 10,100,000 shares |
| Offer For Sale | NA |
| Total IPO size | 10,100,000 shares |
| Minimum bid (lot size) | Coming soon |
| Face Value | INR 10 per share |
| QIB Shares Offered | Not more than 50% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| Listing On | NSE, BSE |
The premium will increase in the event of strong demand, indicating that the shares are worth more and may be purchased and sold for a greater price. This indicates that the impending IPO will be a wise investment if it has a higher IRM Energy IPO GMP.
How to Apply the IRM Energy IPO?
- Open a brokerage account.
- Fund your account with sufficient funds.
- Complete the IPO application provided by your brokerage.
- Review the IPO prospectus carefully.
- Specify the number of shares and bid price.
- Wait for the IPO allotment results.
- Make payment for allocated shares.
- Monitor your investment post-IPO.
IRM Energy IPO Allotment Status
The allocation that the business has predetermined is as follows: 50% of the issued shares will be reserved for Qualified Institutional Buyers. Retail Investors will get the remaining 35%, with Non-Institutional Investors, or HNIs, receiving no more than 15%.
The information on the company’s share allocation to investors will be provided by the IRM Energy IPO Allotment. It’s possible that the shares that were oversubscribed be reimbursed or distributed pro rata.
IRM Energy IPO Live Performance
You may monitor the live performance of the equity shares on the trading market for IRM Energy IPO by clicking this link after it launches. This will also shed light on the share price of the IRM Energy IPO.
IRM Energy IPO Object of the Issue
- financing necessary capital outlays for the construction of the city gas distribution network in the Tamil Nadu regions of Namakkal and Tiruchirappalli in fiscal years 2024, 2025, and 2026
- payback in whole or in part of certain outstanding borrowings obtained by the corporation, whether in advance or at a later date
- broader corporate objectives
IRM Energy IPO Basis of Offer Price
Based on the following qualitative and quantitative parameters, the corporation consults with the Lead management to establish the issue price.
Qualitative factors are:
- Exclusive supply of CNG and PNG in the granted GAs
- The CGD company has successfully developed and operated, with a diverse client portfolio and a PNG and CNG distribution network.
- robust parentage, a seasoned board, a capable management group, and a potent execution squad
- Adoption of technology and digital efforts for operations that are optimum and efficient
- Connectivity to gas pipelines and the creation of economical gas procurement agreements
- robust financial results, steady growth, and profitability bolstered by advantageous legislation and robust operational efficiency.
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