IRM Energy Limited IPO , GMP, Date, Lot Size, (Updated)

IRM Energy Limited IPO Review, GMP, Date, Lot Size, Allotment Status Review

IRM Energy Limited is a leading manufacturer of solar panels and other renewable energy products. The company is planning to raise ₹545.4 crores through its upcoming initial public offering (IPO). The IPO is scheduled to open for subscription on October 18, 2023, and close on October 20, 2023.
IRM Energy Limited IPO Review

IRM Energy Limited IPO Review

IRM Energy Limited IPO GMP

GMP Date

Expected Listing Gain

Last Updated

18-10-2023

17-10-2023

105

17-10-2023

16-10-2023

125

16-10-2023

15-10-2023

130 ⬆️

15-10-2023 2:51

The grey market premium (GMP) for the IRM Energy Limited IPO is ₹130 as of October 15, 2023. This means that investors are willing to pay ₹130 per share for the shares of the company in the grey market. The GMP is a good indicator of the demand for an IPO in the grey market. However, it is important to note that the GMP is not the same as the listing price of the IPO. The listing price of an IPO is determined by the demand and supply of the shares on the stock exchange.
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IRM Energy Limited is a well-established company with a strong track record of growth and profitability. The company is also well-positioned to benefit from the growing demand for solar energy in India. The Indian government is targeting to achieve 175 GW of renewable energy capacity by 2022, and solar energy is expected to play a major role in achieving this target.

IRM Energy Limited IPO Lot Size

The lot size for the IRM Energy Limited IPO is 29 shares. This means that investors will need to invest a minimum of ₹14,645 to apply for one lot of shares.
The following table shows the lot size and minimum And maximum investment amount for different investor categories:

Investor Category

Lot Size

No. of Stocks

Minimum Investment Amount

Retail Investors (MIN.)

1

29

₹14,645

Retail Investors ( MAX.)

13

377

₹190,385

S-HNI Investors (MIN.)

14

406

₹205,030

S-HNI Investors ( MAX.)

68

1972

₹995,860

B-HNI Investors

69

2001

₹1,010,505

IRM Energy IPO Details

IRM Energy Limited is a leading manufacturer of solar panels and other renewable energy products. The company is planning to raise ₹545.4 crores through its upcoming initial public offering (IPO). The IPO is scheduled to open for subscription on October 18, 2023, and close on October 20, 2023.
Here are some key details about the IRM Energy IPO:
  • Issue type: Book-built issue
  • Issue size: ₹545.4 crores
  • Offer for sale (OFS): None
  • Price band: ₹480 to ₹505 per share
  • Lot size: 29 shares
  • Minimum investment amount: ₹14,645
  • Listing At: BSE, NSE
  • Total Issue Size: 10,800,000 shares (aggregating up to ₹545.40 Cr)
  • Fresh Issue: 10,800,000 shares (aggregating up to ₹545.40 Cr)
  • Listing date: October 31, 2023 (expected)

IRM Energy Limited IPO Date, Timeline

The IRM Energy Limited IPO is scheduled to open for subscription on October 18, 2023, and close on October 20, 2023. 

IPO Open Date

Wednesday, October 18, 2023

IPO Close Date

Friday, October 20, 2023

Basis of Allotment

Friday, October 27, 2023

Initiation of Refunds

Friday, October 27, 2023

The credit of Stocks to Demat

Monday, October 30, 2023

Listing Date

Tuesday, October 31, 2023

Cut-off time for UPI mandate confirmation

5 PM on October 20, 2023

IRM Energy Limited IPO Allotment Status

The allotment status of the IRM Energy Limited IPO is expected to be finalized on October 27, 2023. Investors can check their allotment status on the websites of the BSE and the NSE.

To check your allotment status:

  1. Go to the website of the BSE or the NSE.
  2. Click on the “IPO” tab.
  3. Click on the “Status” link.
  4. Select the “IRM Energy Limited” IPO from the list of IPOs.
  5. Enter your PAN card or application number.
  6. Click on the “Submit” button.
If you have been allotted shares in the IPO:
You will need to pay for the shares before they are credited to your demat account.
The payment deadline will be mentioned in the allotment status notification.
If you have not been allotted shares in the IPO:
Your investment amount will be refunded to your bank account within 7 working days of the finalization of the allotment status.

IRM Energy Limited IPO Refund & Listing

Investors who are not allotted shares in the IRM Energy Limited IPO will receive a full refund of their investment amount. The refunds will be credited to the bank accounts of the investors within 7 working days of the finalization of the allotment status.
The shares of IRM Energy Limited are expected to be listed on the NSE and the BSE on October 31, 2023.
Please note:
The allotment status of the IRM Energy Limited IPO is expected to be finalized on October 27, 2023. However, this date may change due to unforeseen circumstances.
Investors should check the websites of the BSE and the NSE regularly for updates on the allotment status of the IPO.
I hope this information is helpful. Please let me know if you have any other questions.

IRM Energy Limited IPO Pros:

  • Leading manufacturer of solar panels and other renewable energy products
  • Strong track record of growth and profitability
  • Well-positioned to benefit from the growing demand for solar energy in India
  • IPO proceeds will be used to fund the company’s expansion plans
  • Technical partnership with Shizuoka Gas Co. Ltd., Japan, which is the 4th largest gas company in Japan.

IRM Energy Limited IPO Cons:

  • IPO is priced at a premium to the company’s peers
  • The solar energy industry is cyclical and subject to government regulations
  • The company faces competition from established players and new entrants

Conclusion

Investing in the stock market and IPO involves several risks, and investors should always do their own research before making any investment decision.

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