IRM Energy Limited raises Rs 160.35 crores from anchor investors

IRM Energy Limited, a city gas distribution ("CGD") company, engaged in the business of laying, building, operating and expanding the city or local natural gas distribution network, has garnered Rs 160.35 crores from anchor investors ahead of its initial public offering that opens for public subscription on Wednesday, October 18, 2023. The company informed the bourses that it allocated 3,175,200 equity shares at Rs. 505 per share on Tuesday, October 17, 2023, to anchor investors.

Foreign Investors and Domestic Institutions who participated in the anchor were Quant MF, SBI General Insurance, HDFC Life, DSP MF, ITI MF, BOI MF, Nippon AIF and PNB Metlife.

Out of the total allocation of 3,175,200 equity shares to the anchor investors, 1,729,656 equity shares were allocated to 4 (four) domestic mutual funds through a total of 8 (eight) schemes amounting to Rs 87.35 crore (approx.) i.e. 54.47% of the Total Anchor Book Size.

HDFC Bank Limited and BOB Capital Markets Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

Source : Equity Bulls

Keywords

IRMEnergy FundRaising IPO AnchorInvestors