07-Oct-2023
2 mins read
The IPO date for IRM Energy is October 18, 2023 to October 20, 2023. The company aims to use its IPO to raise funds, with plans to fresh issue 10,800,000 equity shares for Rs 10 each. Thanks to approval from the capital markets regulator SEBI, IRM Energy Ltd. is now eligible to raise capital through an initial public offering (IPO).
IRM Energy Limited Product Portfolio
Established in 2015, IRM Energy Limited is a gas distribution firm specializing in developing, running, and expanding local natural gas distribution networks. This value-centric energy enterprise caters to a diverse customer base, including industrial, commercial, domestic, and automobile clients.
IRM Energy has established a notable presence in various regions, including Banaskantha District in Gujarat, Fatehgarh Sahib in Punjab, and Diu & Gir-Somnath in the Union Territory of Daman & Diu and the state of Gujarat.
The company meets the natural gas demands of 48,172 domestic customers, 179 industrial facilities, and 248 commercial establishments.
IRM Energy received the City Gas Distribution- Growing Company of the Year 2020 award from the Federation of Indian Petroleum Industries.
As of September 2022, the company boasts an extensive network of 216 CNG gas stations across its operational areas.
The Objectives of IRM Energy Limited IPO
The company intends to allocate the Net Proceeds from the Offering for the following purposes:
- Supporting the capital expenditure needs for the expansion of the City Gas Distribution network in the geographical regions of Namakkal and Tiruchirappalli (Tamil Nadu) during the fiscal years 2024, 2025, and 2026.
- Making advance payments or repaying a portion or the entirety of specific outstanding loans that the company has procured.
- Addressing general corporate requirements and objectives.
Financial Performance of IRM Energy Limited IPO (In Crore)
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 | 31-Mar-20 |
| Assets | 792.9 | 554.8 | 338.11 | 267.16 |
| Revenue | 1,045.10 | 549.19 | 212.54 | 166.13 |
| Profit After Tax | 63.14 | 128.03 | 34.89 | 21.07 |
| Net Worth | 346.42 | 243.72 | 117.6 | 74.74 |
| Reserves and Surplus | 193.3 | 67.57 | 30.31 | |
| Total Borrowing | 303.83 | 202.59 | 163.35 | 146.74 |
Important Details of IRM Energy Limited IPO
| IPO Date | October 18, 2023 to October 20, 2023 |
| Listing Date | Tuesday, October 31, 2023 |
| Face Value | Rs 10 per share |
| Price | Rs 480 to Rs 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 |
| Shareholding pre issue | 30,259,677 |
| Share holding post issue | 41,059,677 |
IRM Energy Limited 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 Limited IPO Promoter Holding
Dr Rajiv Indravadan Modi, Cadila Pharmaceuticals Limited and IRM Trust are the promoters of the company.
| Shareholding Pre Issue | 67.94% |
| Shareholding Post Issue |
IRM Energy Limited IPO Lead Manager(s)
The lead managers for IRM Energy Limited IPO are HDFC Bank Limited and Bob Capital Markets Limited.
How to Apply for IRM Energy Limited IPO
Wait for the public issue to open for subscription, then click on this link to apply for IRM Energy Limited IPO with Bigul https://ipo.bonanzaonline.com/
How to Check the Allotment Status of IRM Energy Limited IPO
The registrar for IRM Energy Limited IPO is Link Intime India Private Ltd. To check your allotment status, please click on this link https://linkintime.co.in/
FAQs
- What is IRM Energy Limited’s IPO?
IRM Energy Limited IPO is a public offering where the company is selling its shares to the general public to get listed on stock exchanges.
- When is the IPO Date?
The specific IPO date is October 18, 2023 to October 20, 2023.
- What will be the listing date of IRM Energy Limited on the stock exchange?
The listing date for IRM Energy Limited IPO is Tuesday, October 31, 2023.
- What is the face value of the IRM Energy Limited share?
The face value of each share is Rs 10.
- How many shares are being offered in this IPO?
The company is offering a total of 10,800,000 shares.
- Where will IRM Energy Limited be listed?
The shares will be listed on both BSE and NSE.
- What is the price of each share in the IPO?
The share price for the IPO has been decided between Rs 480 to Rs 505 per share.
- Who are the promoters of IRM Energy Limited?
Dr. Rajiv Indravadan Modi, Cadila Pharmaceuticals Limited and IRM Trust are the promoters of the company.
- Who are the lead managers for the IPO?
The lead managers are HDFC Bank Limited and Bob Capital Markets Limited.
- How can I apply for the IRM Energy Limited IPO?
Once the public issue is open, you can apply for the IPO through this link: IRM Energy Limited IPO on Bigul.
- How can I check my allotment status for the IPO?
The registrar for the IPO is Link Intime India Private Ltd. To check the allotment status, visit Link Intime.
- What is the significance of the reservations mentioned (QIB, Retail Shares, NII)?
These reservations signify the portion of the IPO allocated to different types of investors. For instance, QIBs (Qualified Institutional Buyers) will be offered no more than 50% of the Net Issue, retail investors will be offered not less than 35%, and Non-Institutional Investors (HNIs) will be offered not less than 15%.
- What is the primary objective of the IRM Energy Limited IPO?
The company’s primary objectives are to support the capital expenditure needs for expansion, to address general corporate requirements and objectives, and for repayment of specific outstanding loans.
- What has been the financial performance of IRM Energy Limited in the recent past?
Financial highlights include growth in net profit, total assets, total revenue, profit after tax, and net worth in the years 2020 to 2023, as provided in the provided data.