IRM Energy IPO Price: ₹480 to ₹505 per share
IPO Date Range: Oct 18, 2023 - Oct 20, 2023
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.
The company serves two primary customer segments through its natural gas supply:
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.
| IPO Date | October 18, 2023 to October 20, 2023 |
| Listing Date | Tuesday, October 31, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹480 to ₹505 per share |
| Lot Size | 29 Shares |
| Total Issue Size | 10,800,000 shares (aggregating up to ₹545.40 Cr) |
| Fresh Issue | 10,800,000 shares (aggregating up to ₹545.40 Cr) |
| Employee Discount | Rs 48 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 30,259,677 |
| Share holding post issue | 41,059,677 |
The minimum lot size to apply in this IRM Energy Limited IPO consists of 29 shares, requiring an investment of ₹14,645.
| 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 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| 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 |
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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 Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 June 2023 |
|---|---|---|---|---|
| Assets | 338.11 | 554.80 | 792.90 | 838.21 |
| Revenue | 212.54 | 549.19 | 1045.10 | 248.63 |
| Profit After Tax | 34.89 | 128.03 | 63.14 | 26.91 |
| Net Worth | 117.60 | 243.72 | 346.42 | 373.33 |
| Reserves and Surplus | 67.57 | 193.30 | ||
| Total Borrowing | 163.35 | 202.59 | 303.83 | 321.24 |
The market capitalization of IRM Energy Limited IPO stands at Rs _ Crore, with a P/E ratio of 24.13.
| KPI | Values |
|---|---|
| P/E (x) | 24.13 |
| Market Cap (Rs Cr) | |
| ROE | 18.23% |
| ROCE | 14.19% |
| Debt/Equity | 0.93 |
| EPS (Rs) | 20.93 |
| RoNW | 18.23% |
IRM Energy aims to channel the net proceeds from the IPO towards:
Prospectus: Official documents that provide detailed information about the IPO and the company. IRM Energy IPO DRHP and IRM Energy IPO RHP.
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.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"IRM Energy Limited" IPO is ₹480 to ₹505 per share.
The "IRM Energy Limited" IPO is expected to be listed on Tuesday, 31 October 2023.
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