IRM Energy is set to launch an IPO which will open on October 18, 2023, and close on October 20, 2023. Through this public offer company wants to raise 545.40 crore from the primary market, Company fixed the price band of Rs. 505 with a minimum lot of 23 shares, and list on October 31, according to the preliminary papers filed to the capital market regulator SEBI.
About IRM Energy Company
IRM Energy is a city gas distribution company, that is engaged in the business of laying, building, operating, and expanding the natural gas distribution network. it provides piped natural gas (PNG) and compressed natural gas (CNG). The company has operations in states including Gujrat, Punjab, and Tamil Nadu and serves 184 industrial customers, 269 commercial customers and 52,454 domestic customers as of June 2023.
The company’s revenue from operation rose 6.51% to rs. 245.25 crore in April –June, 2023 from rs. 230.27 in the year-ago period.
Check out the IPO allotment status on IPO Deliver.
IRM Energy IPO Object
The company intends to use the IPO Funds for the below-mentioned purposes:
- Capital expenditure requirement of the company
- Prepayment or repayment in part or full of certain borrowing
- General corporate purposes and offer expenses.
IRM Energy Strength
- Exclusivity in CNG and PNG supply
- Diverse customer portfolio
- Technology adoption and digital initiative.
- Long standing and deep customer relationships.
- Advanced manufacturing facilities with a wide range of products.
- Consistent strong track record of financial performance.
IRM Energy Risk Factor
- Dependent on third parties for sourcing and transportation of natural gas.
- Failure to obtain licenses etc.
IRM Energy IPO Review & Rating
| Issue Size (Rs.) | 545.40 Crore |
| Issue Price (Rs.) | 505 per share |
| Minimum Lot Size | 23 shares |
| Market Capitalization (Rs.) | – |
| Total Profit (March 2023) (Rs.) | 63.14 crore |
| RoCE (%) | 18.23 |
| Debt/Equity ratio | 0.93 |
| NAV (Rs.) | 20.93 per share |
| Listing on | BSE & NSE |
| IPO Deliver Rating | Medium to Long term |
IRM Energy IPO Dates, Price Band & Details
IRM Energy IPO will open on October 18, 2023, and close on October 20, 2023. The IPO list on October 31, 2023.
| Type of issue | Book Built IPO |
| Issue Size (Rs.) | 545.40 crore |
| Face Value (Rs.) | 10/- per share |
| IPO Open Date | October 18, 2023 |
| IPO Close Date | October 20, 2023 |
| IPO Allotment Date | October 27, 2023 |
| Refund Date | October 27, 2023 |
| Share Credit Date | October 30, 2023 |
| Listing Date | October 31, 2023 |
IRM Energy IPO Offer
IRM Energy IPO total issue size is 10,800,000 shares which comprises below mentioned categories.
| Offer Category | Shares Offer | Amount (Rs.) |
| Fresh Issue | 10,800,000 | 545.40 Crore |
| Offer for Sale (OFS) | – | – |
IRM Energy Financials Review (crore)
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category (Rs.) | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| Total Revenue | 1,045.10 | 549.19 | 212.54 |
| Net Worth | 346.42 | 243.72 | 34.89 |
| Profit | 63.14 | 128.03 | 34.89 |
| Total Borrowings | 303.83 | 202.59 | 163.35 |
IRM Energy IPO Quantitative Factors
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| EPS (Rs.) | 20.93 | 43.88 | 12.39 |
| RoNW (%) | 18.23 | 52.53 | 29.67 |
| NAV (Rs.) | 114.48 | 82.98 | 40.55 |
IRM Energy IPO Peers Comparison (Top 2)
Comparison with the other same segment listed companies in India.
| Company Names | EPS (Rs.) | RoNW (%) | NAV (Rs.) |
| Gujrat Gas | 22.20 | 21.75 | 102.09 |
| Indraprastha Gas | 23.42 | 20.67 | 113.30 |
IRM Energy Company Promoters
As per the DRHP and RHP, the company has three Promoter.
| Serial No. | Name |
| 01. | Dr. Rajeev Indravadan Modi |
| 02. | Cadila Pharma Limited |
| 03. | IRM Trust |
IRM Energy Pre-offer and Post-Offer Promoters Shareholding
| Promoter and promoter group Shareholding | Percentage (%) |
| Pre-Issue | 67.94 |
| Post- Issue | – |
IRM Energy IPO Reservation
IRM Energy IPO total reservation of 10,800,000 shares, distributed between the below-mentioned categories.
| Category | No. of Shares |
| QIB- Not more than 50% of the offer size | 5,292,000 |
| RII- Not less than 35% of the offer size | 3,704,400 |
| NII- Not less than 15% of the offer size | 1,587,600 |
| Employee Reservation | 2,16,000 |
IRM Energy IPO – Market Lot Size
An individual investor can apply for a minimum of 1 lot of 23 Shares and a maximum of 13 lots of 377 shares. Market lot sizes for retail investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
| Retail Minimum | 1 | 23 | 14,645 |
| Retail Maximum | 13 | 377 | 1,90,385 |
IRM Energy IPO – Prospectus
An investor can download/view the IRM Energy Limited prospectus copy, which was filed by the company to SEBI, details are as follows.
| IRM Energy IPO Prospectus | Download/View Links |
| Draft Red Herring Prospectus (DRHP) | Click here |
| Red Herring Prospectus (RHP) | Click here |
IRM Energy IPO Registrar
Link Intime India Private Limited
Tel: +91-22 4918 6270
E-Mail: irmenergy.ipo@linkintime.co.in
Website: www.linkintime.co.in
IRM Energy IPO lead manager
#1 HDFC Bank Limited
E-Mail: irmipo@hdfcbank.com
Website: www.hdfcbank.com
#2. BOB Capital Market Limited
E-Mail: irm.ipo@bobcaps.in
Website: www. bobcaps.in
IRM Energy IPO Application (How to Apply for an IPO)
There are primary four options for applying for an IRM Energy IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “IRM Energy Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked till the allotment date and after it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “IRM Energy Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your account or get refunded in case no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your bank account or refunded in case no allotment is made to you.
Option – 4 Apply for IPO through Stock Exchanges
NSE Form – Click to download
BSE Form – Click to download
Submit the form with your bank/broker.
IRM Energy Company Details
IRM Energy Limited (2015)
Registered Office: 4th Floor, Block 8, Magnet Corporate Park, Near Sola Bridge, S.G, Highway, Ahmedabad -388054
Tel: +91 7949031500
Email: investor.relation@irmenergy.com
Website: www.irmenergy.com
Investor Grievances/Compliance Officer: Shikha Jain
IRM Energy Subsidiary Companies (Top 2)
| Serial No. | Name of Companies |
| 01. | SKI Clean Energy Private Limited |
| 02. | – |
IRM Energy Company Board (Top 2)
| Serial No. | Name of Directors |
| 01. | Maheshwar Sahu |
| 02. | Dr. Rajeev Indravadan Modi |
IRM Energy IPO – Frequently Asked Questions (FAQ’s)
Q-1 What is IRM Energy IPO?
Ans: IRM Energy brings its Mainboard IPO of Rs. 545.40 crore, on October 18, 2023, with a price band of Rs. 505 per share.
Q-2 what is IRM Energy IPO Open date?
Ans: IRM Energy IPO opening date is October 18, 2023.
Q-3 what is IRM Energy IPO Close date?
Ans: IRM Energy IPO closing date is October 20, 2023.
Q-4 What is IRM Energy IPO Listing date?
Ans: IRM Energy IPO listing date is October 31, 2023.
Q-5 What is IRM Energy IPO Minimum investment amount?
Ans: IRM Energy IPO minimum investment amount is Rs. 14,645.
Q-6 What is IRM Energy IPO offer issue Size?
Ans: IRM Energy offer an issue size of Rs. 545.40 Crores.
Q-7 What is IRM Energy IPO Price Band?
Ans: IRM Energy IPO price band is Rs 505 per share.
Q-8 Is IRM Energy IPO mainboard IPO or SME IPO?
Ans: IRM Energy IPO is the Mainboard IPO.
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