IRM Energy Limited’s initial public offering (IPO) has garnered robust interest from investors across all segments. The BSE website reports that the public issue has been oversubscribed by a significant factor of 27.05 times. Market participants and investors are now eagerly anticipating the IRM Energy IPO allotment date, which is expected to fall on either Monday or Wednesday, assuming the company adheres to the T+3 rule for listing.
IRM Energy IPO
In the grey market, the trading of IRM Energy IPO shares has remained stable. Observers in the market have noted that shares of IRM Energy Limited are trading at a premium of ₹45 to ₹48 per equity share in the grey market. This premium, known as the grey market premium (GMP), has held steady at around ₹48, mirroring the levels observed during the weekend. The dip in the grey market sentiment is believed to be linked to recent selling pressure in the Indian stock market, experienced over the past three consecutive sessions. Market observers are of the opinion that the IRM Energy IPO GMP may improve once a reversal in trend occurs in the secondary market.
Data from the BSE website indicates that the IRM Energy IPO recorded an overall subscription of 27.05 times. The retail portion of the IPO saw a subscription rate of 9.29 times, while the Non-Institutional Investor (NII) category witnessed a robust subscription rate of 48.34 times. Furthermore, the Qualified Institutional Buyer (QIB) segment showed a subscription rate of 44.73 times. As for the allotment date, should the company follow the T+3 rule for IPO listing, the likely IRM Energy IPO allotment date will fall on either the 23rd or 25th of October 2023, as the 24th of October 2023 is a stock market holiday due to the Dussehra festival. However, if the company follows the regular listing procedure, the most probable IRM Energy IPO allotment date would be on the 27th of October 2023.
How to check IRM Energy IPO allotment status?
Following the finalization of share allotment, applicants can easily verify their IRM Energy IPO allotment status online using the following steps:
- Go to the BSE website directly at bseindia.com/investors/appli_check.aspx.
- Alternatively, you can check your allotment status on the website of the registrar, Link Intime India Private Ltd, by visiting linkintime.co.in/mipo/ipoallotment.html.
- On the respective webpage, locate the option to check the IPO allotment status.
- You will be required to input certain information, typically including your application number and PAN (Permanent Account Number).
- Once you’ve provided the necessary details, submit your request.
- The system will then display the IRM Energy IPO allotment status, indicating whether you have been allocated shares and the quantity, if applicable.
This online procedure offers a convenient means for IPO applicants to confirm the status of their share allotment without the need to physically visit offices or rely on postal correspondence.