IRM Energy IPO: Listing date of initial public offering (IPO) of IRM Energy Limited has been fixed on 26th October 2023 i.e. today. As per the information available on BSE website, “…effective from Thursday, October 26, 2023, the equity shares of IRM Energy Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities.” IRM Energy shares will list in special pre-open session on NSE and BSE and IRM Energy share price will become available for trade from 10:00 AM during Thursday deals.
According to stock market experts, IRM Energy IPO received strong response from investors but secondary market mood may hit the fancy of listing gain. They said that Indian stock market has been falling for the last five straight sessions and it may affect listing premium of IRM Energy IPO. They expected ‘marginal negative to positive listing’ of IRM Energy shares.
IRM Energy IPO listing gain
Speaking on IRM Energy IPO listing, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “Both global market and Dalal Street sentiments are negative and it is expected to affect the fancy of IRM Energy IPO listing premium. However, the public issue received strong response from the investors and hence I believe that IRM Energy IPO listing would be marginal positive to negative.”
Pointing towards stock market role, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Much will depend upon the stock market mood. As Indian stock market has been under bears’ grip, one should not expect a fancy listing for IRM Energy IPO. However, I would like to add that company has strong fundamentals. IRM Energy Limited has a sustained business model with limited competition in the market. So, in case IRM Energy shares list below its issue price, it would be a good opportunity to accumulate for long term investors.” He said that IRM Emergy shares may have a flat listing.
IRM Energy IPO listing price prediction
Asked about expected IRM Energy IPO listing price, Arun Kejriwal said, “IRM Energy share price may open in ₹499 to ₹529 per share range.”
IRM Energy IPO GMP today
Meanwhile, grey market is also dropping hint about the kind of listing IRM Energy IPO may have. According to market observers, shares of IRM Energy Limited are available at a premium of ₹35 in grey market today. This means, IRM Energy IPO GMP today is ₹35 and the unlisted market is expecting that IRM Energy IPO listing price would be around ₹540 ( ₹505 + ₹35), which is around 7 per cent higher from IRM Energy IPO price band of ₹480 to ₹505 per equity share.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Updated: 26 Oct 2023, 06:52 AM IST