IRM Energy IPO: What GMP and Subscription Status Signal as Focus Shifts to Allotment Date

IRM Energy IPO: The bidding for IRM Energy Limited’s IPO closed on Friday, October 20, 2023. In the three bidding days from October 18 to 20, 2023, the status of IRM Energy’s IPO subscriptions indicates that the public issue is among investors received a strong response in all categories. However, due to weakness in the secondary market over the last three consecutive sessions, gray market sentiment has declined towards IRM Energy’s IPO. According to market watchers, shares of IRM Energy Limited are available at a premium of ₹45 to 48 rupees in the gray market today.

IRM Energy IPO GMP today

Market watchers said the gray market premium (GMP) of IRM Energy’s IPO stands at around 1.5% today ₹48, that is ₹22 lower than yesterday’s GMP of ₹70. They said that the decline in gray market sentiment was due to sell-off pressure in the Indian stock market over the last three consecutive days. They said there could be a reversal in sentiment in unlisted stock markets once sentiment in the secondary market changes.

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IRM Energy IPO Subscription Status

According to the information available on the BSE website, IRM Energy’s IPO was subscribed 27.05 times while the retail unit was subscribed 9.29 times. The public issue was subscribed 48.34 times in the NII category while it was subscribed 44.73 times in the QIB segment.

IRM Energy IPO allocation

In the case of a normal schedule, the most likely allotment date for IRM Energy’s IPO is October 27, 2023. However, in the case of the T+3 regime, IRM Energy shares will be listed on October 25, 2023, i.e. on Wednesday next week BSE and NSE listed. In this case, the likely allotment date for IRM Energy’s IPO would be either October 23 or 24, 2023, which would be Monday or Tuesday of next week. In the case of T+3, IRM Energy’s listing date would be October 25, 2023, while in the case of a non-normal schedule, IRM Energy’s listing date would most likely be October 31, 2023.

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