IRM Energy IPO is a book built issue of 1.01 crore shares. The issue is entirely a fresh issue of 1.01 crore shares.
IRM Energy IPO dates are yet to be announced.
IRM Energy IPO price bands are yet to be announced.
Hdfc Bank Limited and Bob Capital Markets Limited are the book running lead managers of the IRM Energy IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to IRM Energy IPO DRHP for detailed information.
IRM Energy IPO Details
| IPO Date | to |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | [.] to [.] per share |
| Lot Size | |
| Total Issue Size | 10,100,000 shares (aggregating up to ₹[.] Cr) |
| Fresh Issue | 10,100,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 30,259,677 |
IRM Energy IPO Timeline (Tentative Schedule)
IRM Energy IPO opens on October 18, 2023, and closes on October 20, 2023.
| IPO Open Date | Wednesday, October 18, 2023 |
| IPO Close Date | Friday, October 20, 2023 |
| Basis of Allotment | Friday, October 27, 2023 |
| Initiation of Refunds | Friday, October 27, 2023 |
| Credit of Shares to Demat | Monday, October 30, 2023 |
| Listing Date | Tuesday, October 31, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 20, 2023 |
IRM Energy IPO Lot Size
Investors can bid for a minimum of 29 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 29 | ₹14,645 |
| Retail (Max) | 13 | 377 | ₹190,385 |
| S-HNI (Min) | 14 | 406 | ₹205,030 |
| S-HNI (Max) | 68 | 1,972 | ₹995,860 |
| B-HNI (Min) | 69 | 2,001 | ₹1,010,505 |
| Lot Size Calculator | |||
IRM Energy IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
IRM Energy IPO Promoter Holding
Dr. Rajiv Indravadan Modi, Cadila Pharmaceuticals Limited, and IRM Trust are the promoters of the company.
| Share Holding Pre Issue | 67.94% |
| Share Holding Post Issue |
About IRM Energy Limited
Incorporated in 2015, 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 Financial Information (Restated Consolidated)
IRM Energy Limited’s revenue decreased by -7.71% and profit after tax (PAT) dropped by -69.35% between the financial year ending with September 30, 2022 and March 31, 2022.
| Period Ended | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
| Assets | 730.26 | 554.80 | 338.11 | 267.16 |
| Revenue | 506.87 | 549.19 | 212.54 | 166.13 |
| Profit After Tax | 39.25 | 128.03 | 34.89 | 21.07 |
| Net Worth | 307.64 | 243.72 | 117.60 | 74.74 |
| Reserves and Surplus | 256.60 | 193.30 | 67.57 | 30.31 |
| Total Borrowing | 287.84 | 202.59 | 163.35 | 146.74 |
| Amount in ₹ Crore |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 52.53% |
| ROCE | 39.01% |
| Debt/Equity | 0.93 |
| EPS (Rs) | 43.88 |
| RoNW | 52.53% |
Check IRM Energy IPO Peer Comparison here.
Objects of the Issue (IRM Energy IPO Objectives)
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- 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; and
- General corporate purposes.
IRM Energy IPO Contact Details
IRM Energy Limited
4th Floor, Block 8, Magnet
Corporate Park, Near Sola Bridge
S.G. Highway, Ahmedabad 380054
Phone: +917949031500
Email: investor.relations@irmenergy.com
Website: https://www.irmenergy.com/
IRM Energy IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: irmenergy.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html