IPO Listing: IRM Energy Debuts at Discount, Mamaearth Set to Raise ₹365 Crore

Australian Premium

October 26, 2023

New Delhi, India

he Indian IPO market is buzzing with activity as two major companies make their moves. IRM Energy recently made its stock market debut, while Mamaearth’s parent company, Honasa Consumer, is gearing up for its own fundraising round, marking an exciting time in the IPO listing arena.

IRM Energy IPO Listing

Discounted Debut

IRM Energy, a company that recently offered its shares to the public, made an impactful entry onto the stock market. The IPO, priced between ₹480 to ₹505 per equity share, garnered significant attention. However, when it hit the National Stock Exchange (NSE), it did so at a 5.5% discount, with shares listed at ₹477.25 each, marking a 5.49% lower valuation than the IPO price. This distinctive IPO listing drew considerable investor interest.

Strong Subscription

The enthusiasm among investors was evident as the IRM Energy IPO was subscribed 27.05 times on the last day, showcasing the remarkable success of its IPO listing strategy.

Investor Categories

The IPO was strategically divided to cater to various investor categories, ensuring a diversified IPO listing experience. A portion of the shares was reserved for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), Retail Investors, and eligible employees who received a discount of ₹48 per equity share, further enriching the process.

Mamaearth’s Upcoming IPO

Mamaearth’s Ambitious Fundraising:

Honasa Consumer, the parent company of the popular brand Mamaearth, is set to launch its three-day initial public offering (IPO) with a price band ranging from ₹308 to ₹324 per share. The company intends to raise ₹365 crore in primary capital through its upcoming IPO listing.

Share Offering

The IPO will offer 41,248,162 equity shares for sale, attracting a mix of new investors and existing stakeholders. Notably, existing investors, including Fireside Ventures, Stellaris Venture Partners, Sofina Ventures, and high net-worth individuals, such as Kunal Bahl, Rishab Mariwala, Rohit Bansal, and Shilpa Shetty, will be selling some of their shares through the IPO, contributing to the unique dynamics of the Mamaearth IPO listing.

Subscription Dates

Mamaearth’s IPO is set to open for subscription on October 31 and will close on November 2, marking the next exciting chapter in the world of IPO listing.



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