This agreement was made as part of the Tamil Nadu Global Investors Meet 2024, Chennai and will provide employment to 2200 people in the State.
In 2023, some 57 Indian companies raised around Rs 49,000 crore through mainboard IPOs
IRM Energy Rs 545 crore IPO received a decent overall subscription of around 27x.
IRM Energy's Rs 545.4-crore IPO, which opened for subscription on October 18 and closed October 20, was subscribed 27.05 times
IRM Energy, WomanCart, Rajgor Castor Derivatives, and Arvind and Company Shipping Agencies IPOs closed this week
The Cadila Pharmaceuticals-backed company is into the business of city gas distribution. Though IRM Energy’s profit and EBITDA margins fell drastically in FY23, many brokerage houses still swear by the company.
IRM Energy aims to raise Rs 545.4 crore via IPO
IRM Energy aims to raise Rs 545.4 crore via IPO
Ahead of the IPO, IRM Energy raised Rs 160.35 crore from anchor investors
The city gas distribution company plans to use the bulk of its IPO proceeds on capex for expansion. However, it cautions that its growth will slow down in the years to come due to the higher base effect.
IRM Energy IPO | The firm is planning to mop up Rs 545.40 crore via initial public offering of 1.08 crore equity shares at the upper price band.
IRM Energy has fixed the price band for the IPO at Rs 480-505 per share
The price band of the IRM Energy's Rs 545.4 crore IPO has been fixed at Rs 480-505.
The price band for the issue has been fixed at Rs 480-505 a share. The city gas distribution company’s plans to use the proceeds to strengthen network in and also pay debt amounting to Rs 135 crore
The IPO is a fresh issue of up to 1.01 crore equity shares by existing shareholders, according to the draft red herring prospectus (DRHP).