IRM Energy Limited
Mainboard₹14,645 / 29 Shares
IPO Details
IRM Energy Limited IPO is priced between ₹480-505 per equity share, with a face value of ₹10 per share. The company's equity shares will be listed on the Mainboard, and Link Intime India Private Ltd is managing the issue as the registrar.
The IPO bidding period opened on 18 Oct, 2023, and closed on 20 Oct, 2023. The allotment results will be announced on 24 Oct, 2023, with a tentative listing date set for 26 Oct, 2023.
The total issue comprises 10,800,000 shares, amounting to ₹545.40 Cr.
IRM Energy Limited IPO Highlights
| IPO Date | Listing Date | Face Value | Price Band | Lot Size | Fresh Issue | Offer for Sale | Listing At |
|---|---|---|---|---|---|---|---|
| Oct 18, 2023 - Oct 20, 2023 | 26 Oct, 2023 | ₹10 Per Equity Share | ₹480-505 per equity share | 29 Shares | Shares | - | BSE, NSE |
IRM Energy Limited IPO Timeline
Issue Price
₹480-505 per equity shareFace Value
₹10 Per Equity ShareListing at Group
BSE, NSERegistrar
Link Intime India Private LtdMarket Lot
Retail: 29 Shares (₹14,645/-)S-HNI: 406 Shares (₹2,05,030/-)
B-HNI: 2,001 Shares (₹10,10,505/-)
Lead Manager
Hdfc Bank LimitedBob Capital Markets LimitedIssue Size
10,800,000 shares(aggregating up to ₹545.40 Cr)Retail Portion
35% (Number of Retail Applications: 1,27,738 Approx),(Number of S-HNI Applications : 1,303 Approx),(Number of B-HNI Applications : 2,607 Approx)Subscription
27.05 timesIRM Energy Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 23 | 792.90 | 1045.10 | 63.15 | - | - | - |
| 31 Mar 22 | 554.80 | 549.19 | 128.03 | - | - | - |
| 31 Mar 21 | 338.11 | 212.54 | 34.89 | - | - | - |
| 31 Mar 20 | 267.16 | 166.13 | 21.07 | - | - | - |
All values are in ₹ Cr.
About Company
IRM Energy Limited is a gas distribution company. The company is involved in developing, operating, and expanding of local natural gas distribution network. IRM Energy is a value-driven energy enterprise serving industrial, commercial, domestic, and automobile customers.
The company has marked its presence in Banaskantha District in the state of Gujarat, Fatehgarh Sahib in the state of Punjab, and Diu & Gir-Somnath in the Union Territory of Daman & Diu and the state of Gujarat.
The company is fulfilling the natural gas requirements of 48172 domestic clients, 179 industrial units, and 248 commercial clients.
The company has received an award of City Gas Distribution- Growing Company of the Year 2020 from the Federation of Indian Petroleum Industries.
As of September 2022, the company has 216 CNG gas stations across its operating geographical areas.
IRM Energy Limited IPO Subscription Details
| As on | QIB/NII | Retail | Total |
|---|
8.38 times
IRM Energy Limited IPO - Issue Objectives
- Funding capital expenditure requirements for the development of the City Gas Distribution network in the Geographical Areas of Namakkal and Tiruchirappalli (Tamil Nadu) in Fiscal 2024, Fiscal 2025 and Fiscal 2026.
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company.
- General corporate purposes.