Contrary to expectations, shares of IRM Energy made a muted debut on the exchanges by listing at a 5% discount. Most analysts were expecting a marginal premium debut.
The promoter holding will drop to 50% post-IPO from 67.9%. IRM has outperformed the industry average in terms of volume and operating profit in the last two fiscal years and most of its operating areas still have ample room for volume expansion as gas penetration is still low.
Major big-ticket IPOs, Fincare Small Finance Bank, Honasa Consumer, Tata Technologies, EbixCash, Lohia Corp, Indiafirst Life Insurance and others have valid Sebi's observations to launch their IPOs.
Cadila Pharma phase I clinical trial for chicken pox shot: SEC recommends nod FOR trial
The Subject Expert Committee (SEC) on vaccines, which reviews proposals and advises the Drugs Controller General (India) in matters for biologicals and post approval change proposals, has recommended granting