The IRM Energy IPO date has been confirmed; the IPO will go public on October 18 and close on October 20. IRM Energy IPO will generate around 545 crores through an IPO that will consist of a fresh issue of 10,100,000 equity shares worth $10 each. The retail share is 35%, QIB is 50%, and HNI is 15%.
IRM Energy is an Indian city gas distribution (CGD) company that operates in Banaskantha (Gujarat), Fatehgarh Sahib (Punjab), Diu & Gir Somnath (Union Territory of Daman and Diu/Gujarat), and Namakkal & Tiruchirappalli (Tamil Nadu). They are an integrated value-driven energy enterprise developing natural gas distribution projects for industrial, commercial, domestic, and automobile customers in the geographical areas (GAs) allotted to us, and they have built their competency as a CGD company by developing their existing GAs since 2017. They are committed to
servicing the energy demands of their GA clients through their pipelines and CNG station network at a competitive price while upholding high safety standards. They have established themselves as a provider of one of the safest, cleanest, and most cost-effective fuels for homes, commercial establishments, and industrial units, as well as for transportation fuel requirements.
They distribute CNG for use in motor vehicles as well as PNG for personal houses, and commercial and industrial units. The Federation of Indian Petroleum Industries (FIPI) named them the ‘City Gas Distribution: Growing Company of the Year 2020’. Because of their competitive gas pricing and optimized operational expenses, they can offer gas to their PNG industrial customers at a market-competitive price, allowing them to migrate from other alternative fuels (coal and furnace oils) to natural gas.
When compared to competing fuels, they provide a more dependable and environmentally friendly alternative fuel to all of their client segments, allowing them to tap potential customer segments in the various GAs. Furthermore, they are committed to health and safety and have built safety management systems that assure safe, reliable, and uninterrupted natural gas distribution to its consumers, with an emphasis on systemic risk reduction.
IRM Energy began operations in July 2017 after receiving authorizations for the GAs won in the sixth round of bidding by the Petroleum and Natural Gas Regulatory Board (PNGRB) in July 2016.
IRM Energy IPO Date & Price Band Details
| IPO Open: | October 18, 2023 |
| IPO Close: | October 20, 2023 |
| IPO Size: | Approx ₹545 Crores |
| Fresh Issue: | Approx 10,100,000 Equity Shares |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹480 to ₹505 Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
Objects of the Issue
- 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 our Company
- General corporate purposes
IRM Energy IPO Review (Apply or Not)
- To be updated soon
Brokerage Firm IPO Review
- Capital Market: To be updated soon
- Religare Broking: To be updated soon
- Hem Securities: To be updated soon
- Arihant Capital: To be updated soon
IRM Energy IPO Market Lot
The IRM Energy IPO minimum market lot is 29 shares with ₹14,645 application amount. The retail investors can apply up-to 13 lots with 377 shares or ₹190,385 amount.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 29 | ₹14,645 |
| Retail Maximum | 13 | 377 | ₹190,385 |
| S-HNI Minimum | 14 | 406 | ₹205,030 |
| B-HNI Minimum | 69 | 2001 | ₹1,010,505 |
IRM Energy IPO Allotment & Listing Dates
The IRM Energy IPO date is October 18 and the close date is October 20. The IRM Energy IPO allotment will be finalized on October 26 and the IPO listing on October 31.
| Anchor Investors Allotment: | October 17, 2023 |
| IPO Open Date: | October 18, 2023 |
| IPO Close Date: | October 20, 2023 |
| Basis of Allotment: | October 26, 2023 |
| Refunds: | October 27, 2023 |
| Credit to Demat Account: | October 30, 2023 |
| IPO Listing Date: | October 31, 2023 |
IRM Energy IPO Form
How to apply for the IRM Energy IPO? –> You can apply for the IRM Energy IPO using your bank account’s ASBA. Simply log in to your online bank account and apply through your bank account by selecting the IRM Energy IPO in the Invest section. You can also apply for the IRM Energy IPO using IPO forms available from the NSE and BSE. Examine the IRM Energy forms.
IRM Energy Company Financial Report
| Year (₹ in Crores) | Revenue | Expense | PAT |
|---|---|---|---|
| 2021 | ₹212.54 | ₹166.46 | ₹34.89 |
| 2022 | ₹549.19 | ₹396.83 | ₹128.02 |
| 2023 | ₹1045.10 | ₹970.70 | ₹63.15 |
IRM Energy IPO Valuation – FY2023
Check IRM Energy IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹20.93 per Equity Share |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 18.23% |
| Net Asset Value (NAV): | ₹114.48 per Equity Share |
Peer Group
- Gujarat Gas Limited
- Indraprastha Gas Limited
- Mahanagar Gas Limited
- Adani Total Gas Limited
IRM Energy IPO Registrar
Link Intime India Private Ltd
Phone: +91 22 4918 6200
Email: irmenergy.ipo@linkintime.co.in
Website: https://linkintime.co.in
Company Address
IRM Energy Limited
4th Floor, Block 8,
Magnet Corporate Park,
Near Sola Bridge, S.G. Highway Ahmedabad,
Gujarat – 380054
Phone: +91 79490 31500
E-mail: investor.relations@irmenergy.com
Website: https://www.irmenergy.com
Company Promoters
- Dr. Rajiv Indravadan Modi
- Cadila Pharmaceuticals Limited
- IRM Trust
IRM Energy IPO Lead Managers aka Merchant Bankers
- HDFC Bank Limited
- BOB Capital Markets Limited
IRM Energy IPO FAQs:
Q1. What is IRM Energy IPO?
Ans. IRM Energy IPO is a main-board IPO. They are going to raise ₹545 Crores via IPO. The issue is priced at ₹480 to ₹505 pr equity share. The IPO is to be listed on BSE & NSE.
Q2. When IRM Energy IPO will open?
Ans. The IPO is to open on October 18, 2023 for QIB, NII, and Retail Investors.
Q3. What is IRM Energy IPO Investors Portion?
Ans. The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
Q4. How to Apply the IRM Energy IPO?
Ans. You can apply for IRM Energy IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.
Q5. How to Apply the IRM Energy IPO through Zerodha?
Ans. Log in to Console in Zerodha Website or in Application. Go to Portfolio and Click on IPO. You will see the IPO Name “IRM Energy”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Zerodha.
Q6. How to Apply the IRM Energy IPO through Upstox?
Ans. Log in to the Upstox Application with your credentials. Select the IPO. You will see the IPO Name “IRM Energy”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox.
Q7. How to Apply the IRM Energy IPO through Paytm Money?
Ans. Log in to Paytm Money Application with your credentials. Select the IPO. You will see the IPO Name “IRM Energy”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Paytm Money.
Q8. What is IRM Energy IPO Size?
Ans. IRM Energy IPO size is ₹545 crores.
Q9. What is IRM Energy IPO Price Band?
Ans. IRM Energy IPO Price Band is ₹480 to ₹505.
Q10. What is the IRM Energy IPO Allotment Date?
Ans. IRM Energy IPO allotment date is October 26, 2023.
Q11. What is the IRM Energy IPO Listing Date?
Ans. IRM Energy IPO listing date is October 31, 2023. The IPO is to list on BSE and NSE.
