IRM Energy makes weak debut, lists at 5% discount against issue price

IRM Energy made a weak stock market debut on Thursday, with its shares getting listed at Rs 477, a 5 per cent discount against its issue price of Rs 505 per share on the National Stock Exchange (NSE). The stock of the city gas distribution company opened at Rs 479 on the BSE. Post listing, the stock slid further to hit an intraday low of Rs 465 on the NSE and BSE. At 10:04 AM, IRM Energy was quoting at Rs 468, 7 per cent lower against its issue price. A combined around 1.4 million equity shares had changed hands on the NSE and BSE. In comparison, the Nifty 50 was down 0.95 per cent at 18,941.