IRM ENERGY LIMITED IPO
IRM ENERGY LIMITED (IRMENERGY) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 26 October 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +8.3% (likely range +3% to +25%), day's high +16.3%, chance of a gain 82%. Actual: -5.5% at the open, -4.2% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 21,16,800 | 9,46,76,126 | 44.7x | |
| NII (HNI) total | 15,87,600 | 7,67,51,168 | 48.3x | |
| Big NII (above ₹10 lakh) | 10,58,400 | 5,53,38,757 | 52.3x | |
| Small NII (₹2-10 lakh) | 5,29,200 | 2,14,12,411 | 40.5x | |
| Retail | 37,04,400 | 3,44,01,772 | 9.29x | |
| Employees | 2,16,000 | 4,41,844 | 2.05x | |
| Total | 76,24,800 | 20,62,70,910 | 27.1x |
Bids on NSE and BSE together, as published by NSE, as of 20 Oct 2023, 05:00 PM. Shares offered exclude the anchor portion. 14% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to IRM ENERGY LIMITED's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| India PesticidesJun 2021 | 42.9x | 51.9x | 11.3x | 29.0x | ₹817 Cr | +18.2% | +24.3% |
| Home First Finance Company IndiaJan 2021 | 52.5x | 39.0x | 6.59x | 26.7x | ₹1,156 Cr | +19.5% | +23.6% |
| Rishabh InstrumentsSep 2023 | 72.5x | 31.3x | 8.44x | 31.7x | ₹491 Cr | +4.3% | +6.6% |
| Yatharth Hospital and Trauma Care ServicesJul 2023 | 85.1x | 37.2x | 8.34x | 36.2x | ₹705 Cr | +2.0% | +14.4% |
| Electronics Mart IndiaOct 2022 | 62.3x | 24.5x | 12.8x | 29.4x | ₹527 Cr | +52.5% | +54.2% |
| Dharmaj Crop GuardNov 2022 | 48.2x | 52.3x | 21.5x | 35.5x | ₹270 Cr | +12.3% | +17.7% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| BOB Capital Markets | 6 | +4.9% | 50% |
| HDFC Bank | 16 | +15.8% | 75% |
Offer documents (NSE)
Frequently asked
What is the IRM ENERGY LIMITED IPO price band and lot size? ₹480–505 per share, with a lot of 29 shares, so the smallest retail bid is ₹14,645.
How many times has it been subscribed? 27.1x overall: QIB 44.7x, NII 48.3x, retail 9.29x, employees 2.05x.
How did it list? It opened at ₹477, -5.5% against the issue price of ₹505, and closed its first day -6.3%.
