IRM Energy Limited IPO: Here's how to check the allotment status

23 Oct 2023 , 09:28 AM

IRM Energy Limited’s initial public offering (IPO), with a total value of Rs 545 crore, was open for subscription from October 18 to 20. The IPO received overwhelming demand, with an overall subscription rate of 27.05 times. Notably, the retail portion was subscribed 9.29 times, and the non-institutional investor (NII) category saw a remarkable subscription rate of 48.34 times. The qualified institutional buyers (QIB) segment also exhibited strong interest, with a subscription rate of 44.73 times.

As per the IPO schedule, the company will announce the allotment of shares on 27^th October. The investors who have applied for the IPO can check allotment status on BSE website or on the website of its registrar, Link Intime India Pvt Ltd. 

Investors need to provide application number, PAN details to check the allotment status of the IPO.

IRM Energy operates in the city gas distribution (CGD) sector, generating revenue by selling both compressed natural gas (CNG) and piped natural gas (PNG) within designated geographical areas (GAs). The company specializes in developing natural gas distribution projects in these GAs. 

Recently, it obtained authorization in two additional GAs – Diu and Gir, Somnath in Gujarat, and Namakkal and Tiruchirappalli districts in Tamil Nadu, thus expanding its footprint to a total of four GAs. The other two GAs it operates in are Banaskantha in Gujarat and Fatehgarh Sahib in Punjab.