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Posted on  October 12, 2023 under  by Meghna Mundhra

IRM Energy IPO Details - Complete Overview of IRM Energy Limited IPO

IRM Energy IPO Price: ₹480 to ₹505 per share
IPO Date Range:
Oct 18, 2023 - Oct 20, 2023

Foundation & Business Essence:

Incorporated in 2015, IRM Energy Limited operates as a gas distribution company, specializing in developing, operating, and expanding local natural gas distribution networks. This value-oriented energy enterprise caters to a diverse customer base, including industrial, commercial, residential, and automotive clients.

Product Portfolio:

The company serves two primary customer segments through its natural gas supply:

  1. CNG (Compressed Natural Gas): This segment comprises customers operating public transportation vehicles like taxis, auto-rickshaws, and private vehicles such as cars, buses, light goods vehicles, and heavy goods vehicles.
  2. PNG (Piped Natural Gas): The PNG customer base is broadly categorized into three segments, which include industrial PNG for small, medium, and large-sized enterprises, commercial PNG for establishments like hotels, restaurants, bakeries, hostels, and community halls, and domestic PNG primarily used for cooking gas.

Network and Presence:

With a notable presence in Banaskantha District in Gujarat, Fatehgarh Sahib in Punjab, and Diu & Gir-Somnath within the Union Territory of Daman & Diu and the state of Gujarat, the company has expanded its reach across various regions. As of June 30, 2023, it proudly served a customer base consisting of 52,454 domestic customers, 269 commercial customers, and 184 industrial customers. This remarkable achievement underscores the company's reputation for effective operational management, adept stakeholder engagement, and adept supply-chain risk management.

Bidding Starts In

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IRM Energy IPO Specifics:

IPO DateOctober 18, 2023 to October 20, 2023
Listing DateTuesday, October 31, 2023
Face Value₹10 per share
Price Band₹480 to ₹505 per share
Lot Size29 Shares
Total Issue Size10,800,000 shares
(aggregating up to ₹545.40 Cr)
Fresh Issue10,800,000 shares
(aggregating up to ₹545.40 Cr)
Employee DiscountRs 48 per share
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue30,259,677
Share holding post issue41,059,677

IRM Energy IPO Lot Size

The minimum lot size to apply in this IRM Energy Limited IPO consists of 29 shares, requiring an investment of ₹14,645.

ApplicationLotsSharesAmount
Retail (Min)129₹14,645
Retail (Max)13377₹190,385
S-HNI (Min)14406₹205,030
S-HNI (Max)681,972₹995,860
B-HNI (Min)692,001₹1,010,505

IRM Energy IPO Reservation

QIB Shares OfferedNot more than 50% of the Net Issue
NII (HNI) Shares OfferedNot less than 15% of the Net Issue
Retail Shares OfferedNot less than 35% of the Net Issue

IRM Energy IPO Timetable (Important Dates)

IPO Open DateWednesday, October 18, 2023
IPO Close DateFriday, October 20, 2023
Basis of AllotmentFriday, October 27, 2023
Initiation of RefundsFriday, October 27, 2023
Credit of Shares to DematMonday, October 30, 2023
Listing DateTuesday, October 31, 2023
Cut-off time for UPI mandate confirmation5 PM on October 20, 2023

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IRM Energy Limited IPO Financial Information

In the financial year ending on March 31, 2023, IRM Energy Limited experienced a substantial 90.3% growth in revenue, while their profit after tax (PAT) decreased by 50.69% compared to the figures recorded on March 31, 2022.

Period Ended31 Mar 202131 Mar 202231 Mar 202330 June 2023
Assets338.11554.80792.90838.21
Revenue212.54549.191045.10248.63
Profit After Tax34.89128.0363.1426.91
Net Worth117.60243.72346.42373.33
Reserves and Surplus67.57193.30
Total Borrowing163.35202.59303.83321.24
Amount in ₹ Crore

Key Performance Indicator - IRM Energy IPO

The market capitalization of IRM Energy Limited IPO stands at Rs _ Crore, with a P/E ratio of 24.13.

KPIValues
P/E (x)24.13
Market Cap (Rs Cr)
ROE18.23%
ROCE14.19%
Debt/Equity0.93
EPS (Rs)20.93
RoNW18.23%

Objects of the Issue:

IRM Energy aims to channel the net proceeds from the IPO towards:

  • Funding the capital expenditure required for the development of City Gas Distribution Network in the areas of Namakkal and Tiruchirapalli of Tamil Nadu in Fiscals - 2024, 2025, and 2026
  • Repayment or Pre-payment of all or portion of outstanding borrowings of the company.
  • General corporate purposes.

Prospectus Links:

Prospectus: Official documents that provide detailed information about the IPO and the company. IRM Energy IPO DRHP and IRM Energy IPO RHP.

Frequently Asked Questions

What is an IPO?

An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.

Why do companies go public with an IPO?

Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.

What is the price range for the "IRM Energy Limited" IPO?

The price range for the"IRM Energy Limited" IPO is ₹480 to ₹505 per share.

When will the "IRM Energy Limited" IPO be listed on the stock exchange?

The "IRM Energy Limited" IPO is expected to be listed on Tuesday, 31 October 2023.

How to apply for an IPO with Lakshmishree?

To apply for an IPO with Lakshmishree:
Go to www.lakshmishree.com/ipo
Select the desired IPO and fill in the required details.
Confirm your application and make the payment.
Once applied, you can track the status of your application on the platform or get in your registered Email ID.

How can I check the subscription status of an IPO on Lakshmishree?

Log in to your Lakshmishree account and navigate to the 'IPO' section. Here, you can view live updates on the subscription status of ongoing IPOs.

Written by Meghna Mundhra

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