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IRM Energy listing: IRM Energy stock lists at 5.5% discount to IPO price

IRM Energy s shares were listed at a discount of over 5% to the issue price on Thursday. The stock debuted at Rs 477.2 on NSE and Rs 479 on BSE, both down over 5%. However, analysts believe that the IPO was fairly priced and the company has a strong customer base and distribution network. The IPO received a healthy subscription of 27.05 times. IRM Energy is a city gas distribution company in India and plans to use the proceeds for capital expenditure and debt repayment. ....

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IRM Energy IPO subscribed 3.18 times so far on Day 2. Check GMP and other details

According to market analysts, the company s shares are trading with a premium of Rs 55 in the unlisted market. The IPO is priced in the range of Rs 480-505. Analysts believe IRM Energy gives investors an opportunity to invest in one of the growing and emerging players in the city gas distribution segment in its geographical areas. ....

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