Finally, the IRM Energy IPO is now all set to open for subscription. The subscriptions are going to start on 18th October 2023, Wednesday and it is going to close on 20th October 2023, Friday. Also, the allocation to the anchor investors for the IRM Energy IPO is now scheduled for 17 October 2023, Tuesday. It has been declared that the IRM Energy IPO price band has been fixed in the range of Rs. 480 to Rs. 505 per equity share which has a face value of Rs. 10. This news has been recently declared by the officials. now to learn everything regarding this IRM Energy IPO subscription read this article till the last without missing any single line.
Now the IRM Energy IPO floor price is 48.0 times the face value of the equity shares and the cap price is 50.5 times the face value of the equity shares. The price-to-earnings ratio is based on the diluted earnings per share for fiscal 2023 at the floor [rice is 22.93 times and the cap price is 24.13 times. It has been reported that the IRM Energy IPO lot size is 29 equity hares and in the multiple of 29 equity shares. Reports have shown that the IRM Energy IPO has not reserved more than 50% of the shares in the public issue for the Qualified Institutional Buyers (QIB) which are not less than 15% for the Non-Institutional Investors (NII) and it is not less than the 35% of the offer which is reserved for the Retail Investors. There is a big discount of Rs. 48 per equity share which has been offered to the eligible employees who are bidding in the employee reserve portion.
Here are some details of the IRM Energy IPO. As per the Red Herring Prospectus (RHP), the IRM Energy IPO is totally fresh issue of 10,800,000 equity shares and there is no offer-for-sale component. Keep reading.
The Red Herring Prospectus also said that it is expected that the company is going to use the net proceeds from the offering to the fund which follows the goals. The prepayment or the repayment of the entire portion of the certain borrowings obtained by the company, funding capital expenditure, and general corporate purposes are currently required for the development of the City Gas Distribution network in the Geographical Area of Namakkal and Tiruchirappalli in fiscal 2024, 2025, 2026, and 2027. According to the source, the book-running lead managers of the IRM Energy IPO are Bob Capital Markets Ltd and Hdfc Bank Ltd., and the register is Link Itine India Private Ltd.