IRM Energy IPO came few weeks back and listed with 5% discount though it was oversubscribed 27x.
Currently it is available at 8% discount to IPO price.
Not trying to repeat financials/operational details as ton for material is available in public domain as part of IPO analysis.
HDFCsec also initiated a coverage with 25% upside potential.
Key strengths:
This is only pure private sector play other in Adani total in CGD and comes from house of Cadila Pharma. It also has joint venture in Bio-gas and CNG cylinders. Should grow atleast 3x in next 5-7 years.
Risks:
Standard CGD company risks.
My question to boarders is that everything looks so promising. Anything specific why market is ignoring and giving it valuations of PSU.
Disc: Invested around CMP after IPO and forms 1% of my PF.
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