IRM Energy IPO

IRM Energy IPO will open for subscription from 18 October 2023. The company aims for an issue size of ₹545.40 Cr through this IPO.

Company Overview

Full nameIRM Energy Limited
SectorIndustrials Gases & Fuels
IndustryIndustrials Gases & Fuels
Company Website

About Company

Incorporated in 2015, IRM Energy is engaged in the business of laying, building, operating, and expanding the city or local natural gas distribution network. It is an integrated value-driven energy enterprise, developing natural gas distribution projects in geographical areas (GAs) for industrial, commercial, domestic, and automobile customers. Natural gas demand from the CGD sector is likely to log growth at 15-16% CAGR between Fiscal 2022 and Fiscal 2030.

IRM Energy is a city gas distribution (CGD) company in India, with operations at Banaskantha (Gujarat), Fatehgarh Sahib (Punjab), Diu & Gir Somnath (Union Territory of Daman and Diu/Gujarat), and Namakkal & Tiruchirappalli (Tamil Nadu). The company distributes CNG for use in motor vehicles and PNG for use by domestic households as well as for commercial and industrial units. IRM Energy served 168 industrial customers, 202 commercial customers, and 43,183 domestic customers as of 30 September 2022.

The company has established a network of 56 CNG filling stations, comprising 2 stations owned and operated by the company (‘COCO Stations’), 30 CNG stations owned and operated by dealers (‘DODO Stations’) and 24 CNG stations owned and operated by oil marketing companies (‘OMC Stations’) as at 30 September 2022.

The Objectives 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 the Company; and
  • General corporate purposes.

IRM Energy IPO Timetable

IPO Opening date18 October 2023
IPO Closing20 October 2023
Basis of Allotment27 October 2023
Initiation Refund27 October 2023
Credit to Demat Account30 October 2023
Listing Date31 October 2023
(Cut-off time for UPI mandate confirmation – 5 PM on October 20, 2023)

IRM Energy IPO details

Issue typeBook built Issue IPO
IPO issue size₹545.40 Cr – 10,800,000 shares
Fresh Issue₹545.40 Cr – 10,800,000 shares
Offer for saleNil
Face value₹10 per share
Price Band ₹480 to ₹505 per share
Lot size29 Shares
Employee Discount₹48 per share
Shareholding pre-issue30,259,677
Shareholding post-issue41,059,677
Listing ExchangeBSE & NSE

IRM Energy IPO Lot Size

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 Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

IRM Energy Financial Performance

 FY 2020FY 2021FY 2022FY 2023
Net income21.0334.87128.0463.08
Margin (%)12.6916.4623.446.07
(Amount in ₹ Crores)

IRM Energy Valuations & Margins

FY 2020FY 2021FY 2022FY 2023
PE ratio22.93 – 24.13
RONW (%)28.1929.6752.5318.23
ROCE (%)16.9419.9839.0114.19
EBITDA (%)33.6738.4939.6112.14

IRM Energy Company Promoters

  • Dr. Rajiv Indravadan Modi
  • Cadila Pharmaceuticals Limited
  • IRM Trust

Promoter Holding

Pre Issue Share Holding67.94%
Post Issue Share Holding

IRM Energy Lead Manager(s)

  • Hdfc Bank Limited
  • Bob Capital Markets Limited

IRM Energy IPO Registrar

C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +91 22 4918 6200

IRM Energy Contact Details

4th Floor, Block 8, Magnet Corporate Park,
Near Sola Bridge, S.G. Highway Ahmedabad, Gujarat – 380054
Phone: +91 79490 31500

IRM Energy IPO Allotment Status

IRM Energy IPO allotment will be available on Link Intime’s website. Click on this link to get allotment status.

Final thoughts

IRM Energy IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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