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IRM Energy Ltd

Gas Distribution

Offer Period :

18th to 20th Oct 2023

Established in 2015, IRM Energy Limited is a gas distribution company serving diverse sectors in Gujarat and Daman & Diu. Recognized for its growth in City Gas Distribution, Read more... it operates 216 CNG stations, meeting the needs of domestic, industrial, and commercial clients.Read less

IRM Energy Ltd IPO Details

IPO Date 18th to 20th Oct 2023 Minimum Investment ₹14645 / 1 Lots
Listing Date 2023-10-26 Maximum Investment ₹190385 / 13 Lots
Face Value ₹10 per share Total Issue Size ₹545.4 Crores
Price ₹505 to ₹505 per share Fresh Issue ₹545.4 Crores
Lot Size 1 Lots (29 Shares) Offer For Sale ₹ 0
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹0 per share    
IPO Date 18th to 20th Oct 2023
Listing Date 2023-10-26
Face Value ₹10 per share
Price ₹505 to ₹505 per share
Lot Size 1 Lots (29 Shares)
Listing At BSE, NSE
Employee Discount ₹0 per share
Minimum Investment ₹14645 / 1 Lots
Maximum Investment ₹190385 / 13 Lots
Total Issue Size ₹545.4 Crores
Fresh Issue ₹545.4 Crores
Offer For Sale
Retail Discount ₹ 0

Timeline

Important dates for allocation and IPO listing.

18th Oct

IPO Starts

20th Oct

IPO Ends

23rd Oct

Allotment Date

23rd Oct

Initiation of Refund

25th Oct

Credit of Shares to Demat Account

26th Oct

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 67.94 50.07
Public Group 32.06 49.93

IRM Energy Ltd IPO Reservation

QIB Shares Offered 2116800(19.6%)
NII (HNI) Shares Offered 1587600(14.7%)
Retail Shares Offered 3704400(34.3%)
Anchor Investor Shares Offered 3175200(29.4%)
Total Shares Offered 10800000
Total Shares With Anchor Investor 10800000

IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)---
Retail (Max)---
S-HNI (Min)---
S-HNI (Max)---

IRM Energy Ltd IPO Registrar

Phone Number
Email Id
Our Website

IRM Energy Ltd IPO Lead Manager

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IRM Energy Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed

Strength of IRM Energy Ltd

1. Exclusivity in CNG and PNG supply in the awarded GAs.

2. Successful development and operation of CGD business.

3. Diverse customer portfolio and distribution network of CNG and PNG.

4. Strong parentage, experienced board and management team and strong execution team.

5. Technology adoption and digital initiatives for efficient and optimal operations.

6. Connectivity to gas pipelines and establishing cost-effective gas sourcing arrangements.

7. Strong financial performance and consistent growth and profitability supported by healthy operating efficiency and favorable regulations.

Risks Involved

1. The company is dependent on third parties for sourcing and transportation of natural gas. As of June 30, 2023, its procured natural gas from seven suppliers which constituted 100.00% of its total quantity purchased. Any disruption in the receipt of such natural gas from these third parties, or delay or default in timely transportation of the natural gas could lead to a disruption or failure in the supply of natural gas by it, which could adversely affect its business, reputation, results of operations and cash flows.

2. Transporting natural gas is hazardous and could result in accidents, which could adversely affect its reputation, business, financial condition, results of operations and cash flows.

3. The company has issued Equity Shares during the preceding one year at a price that may be below the Issue Price.

4. Cadila Pharmaceuticals Limited, one of its Promoters, has provided corporate guarantees to third parties for the loans availed by the Company. In the event the Company defaults on any of the loans availed, its Promoters will be liable for the repayment obligations. Further, the Company has provided corporate guarantees to third parties for the loans availed by its Associate Companies, Farm Gas Private Limited and Venuka Polymers Private Limited. In the event any of its Associate Companies default on any of the loans availed, the Company will be liable for the repayment obligations.

5. Its CNG and industrial PNG supply operations account for 49.43 % and 46.86 % of its total operations (in terms of volume) for the three months ended June 30, 2023. The company is heavily reliant on its CNG and industrial PNG supply operations and any decrease in the sales, may have an adverse effect on the business, operation, financial condition and cash flows of the Company.

6. Its may not receive sufficient funds pursuant to the Issue for utilization of Net Proceeds towards deployment of the Objects of the Issue.

7. The company requires various licenses and approvals for undertaking its businesses and the failure to obtain or retain such licenses or approvals in a timely manner, or at all, may adversely affect its operations.

8. Its typically requires 15-18 months to generate revenue in its GAs. Any further delay in realizing revenue may affect its projections, results of operations and cash flows.

9. Two of its Directors are on the board of directors of a listed company whose shares have been suspended from being traded on the BSE Limited and the National Stock Exchange of India Limited, during their tenure. Further, one of its Director has been on the board of directors of a listed company which was delisted from BSE Limited, during his tenure.

10. Its contingent liabilities for the three months ended June 30, 2023 amount to Rs. 2,396.85 million. Its contingent liabilities, if materialized could materially and adversely affect its business, results of operations and financial condition.

Why should you invest in

-

Financials

Particulars For the financial year ending (in ₹ million)
  2024 2023 2022
Total Assets 1296.62 792.9 554.8
Total Liabilities 1296.62 792.9 554.8
Total Expenses 794.84 911.65 357.83
Total Revenue 
914.34 986.05 510.2
Profit After Tax 85.67 63.15 128.03
EBITDA 172.67 118.2 189.48
Adjusted EBITDA 0 0 0

IRM Energy Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2023-10-26 544004 IRMENERGY
INE07U701015
₹505 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹505 ₹505
Open ₹479 ₹477.25
Low ₹450.05 ₹450
High ₹483 ₹483.7
Low ₹450.05 ₹450

Frequently Asked Questions

What is IRM Energy Ltd IPO?

Answer Field

IRM Energy Ltd IPO is a Mainboard IPO of 1,08,00,000 equity shares of a face value of ₹10 aggregating up to ₹545.4 Crores. The issue is priced at ₹505 to ₹505 per share. The minimum order quantity is 29 Shares. The IPO opens on October 18, 2023, and closes on October 20, 2023. is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When IRM Energy Ltd IPO will open?

Answer Field

The IRM Energy Ltd IPO opens on October 18, 2023 and closes on October 20, 2023.

What is the lot size of IRM Energy Ltd?

Answer Field

IRM Energy Ltd lot size is 29 shares, and the minimum amount required is ₹14,645.

How to apply for IRM Energy Ltd IPO?

Answer Field

You can apply in IRM Energy Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is IRM Energy Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for IRM Energy Ltd IPO will be done on October 23, 2023, and the allotted shares will be credited to your demat account by October 25, 2023.

When is IRM Energy Ltd IPO listing date?

Answer Field

The IRM Energy Ltd listing date is October 26, 2023.

Who is the registrar of IRM Energy Ltd IPO?

Answer Field

The registrar of IRM Energy Ltd IPO is

Which company is the book-running lead manager of the IPO?

Answer Field

will be the book-running lead manager of this IPO.

What is the fresh issue of IRM Energy Ltd IPO?

Answer Field

The fresh issue size is ₹545.4 Crores equity shares.

What minimum lot size can retail subscribers subscribe to IRM Energy Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 29 shares and ₹14,645 amount.

How can I approve the UPI mandate request for IRM Energy Ltd IPO?

Answer Field

To apply for IRM Energy Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of IRM Energy Ltd?

Answer Field

The price of each IRM Energy Ltd share will be ranging in between ₹505 to ₹505 per share.

What is the cut-off time for the UPI mandate for IRM Energy Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, October 20, 2023.

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