IRM Energy has debuted at Rs 479.00 on the BSE, down by 26 points or 5.15% from its issue price of Rs 505.
The scrip is currently trading at Rs 458.80, down by 46.20 points or 9.15% from its issue price. It has touched a high and low of Rs 482.00 and Rs 450.05 respectively. So far 2.14 lakh shares were traded on the counter.
The offering, which was open for subscription between October 18, 2023 and October 20, 2023 was subscribed 27.05 times. The issue price was fixed at Rs 505 per share i.e. at upper end of price band of Rs 480-505 apiece.
IRM Energy provides piped natural gas (PNG) and compressed natural gas (CNG). It has operations in states including Gujarat, Punjab and Tamil Nadu.
