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IRM Energy IPO

  • Status: Closed
  • RHP:
  • ₹ 13,920 / 29 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    26 Oct 2023

  • Listing Price

    ₹479.00

  • Listing Change

    -5.15%

  • Last Traded Price

    ₹452.00

IPO Details

  • Open Date

    18 Oct 2023

  • Close Date

    20 Oct 2023

  • IPO Price Range

    ₹ 480 to ₹ 505

  • IPO Size

    ₹ 545.40 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    31 Oct 2023

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IPO Timeline

IRM Energy IPO Subscription Status

Last Updated: 03 November 2023 12:25 PM by 5Paisa

IRM Energy Limited IPO is all set to open from 18th October to 20th October 2023. The company operates as a gas distributor. The IPO includes a fresh issue of 10,800,000 equity shares worth ₹545.40 cr. The share allotment date is 27th October, and the IPO will be listed on 31st October on the stock exchanges. The price band is ₹480 to ₹505 per share and the lot size is 29 shares.    

HDFC Bank Limited and BOB Capital Markets Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar. 

Objectives of IRM Energy IPO:

●    To fund the capital expenditure for s developing the City as a Distribution network in Namakkal and Tiruchirappalli (Tamil Nadu) during FY24, FY25, and FY26.
●    To prepay or repay, full/partial borrowings obtained 
●    Fund general corporate purposes.

IRM Energy IPO Video:

 

Established in 2015, IRM Energy Limited operates as a gas distributor. The company is engaged in the development, operation, and expansion of local natural gas distribution networks and caters to a diverse clientele, including industrial, commercial, domestic, and automotive customers. With a commitment to meeting the natural gas needs of its customers, IRM serves 48,172 domestic clients, 179 industrial units, and 248 commercial clients.

IRM Energy has established a strong presence in various regions, including Banaskantha District in Gujarat, Fatehgarh Sahib in Punjab, and Diu & Gir-Somnath in the Union Territory of Daman & Diu, as well as the overall Gujarat state. As of September 2022, the company has successfully established 216 CNG gas stations in its operational geographical areas.

IRM Energy was honored with the 2020 City Gas Distribution- Growing Company of the Year award by the Federation of Indian Petroleum Industries.

Peer Comparison
●    Gujarat Gas Limited
●    Indraprastha Gas Limited
●    Mahanagar Gas Limited
●    Adani Total Gas Limited

For More Information:
Webstory on IRM Energy IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 1039.13 546.14 211.81
EBITDA 118.94 200.89 72.97
PAT 63.14 128.02 34.89
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 792.92 554.80 338.11
Share Capital 30.26 29.37 28.99
Total Borrowings 446.47 311.08 220.50
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 46.68 128.64 45.42
Net cash from / (used in) investing activities -201.61 -110.34 -42.02
Net cash flow from / (used in) financing activities 117.66 15.09 10.27
Net increase (decrease) in cash and cash equivalents -37.27 33.40 13.67


Strengths

1.    The company is the sole distributor of CNG and PNG in the GAs awarded.
2.    Successful development and operation of CGD business.
3.    Diverse customer portfolio and distribution network of CNG and PNG. 
4.    Technology adoption and digital initiatives for efficient and optimal operations.
5.    Connectivity to gas pipelines and establishing cost-effective gas sourcing arrangements.
6.    Strong financial performance with consistent growth and profitability supported by healthy operating efficiency and favorable regulations.
7.    Strong parentage, experienced board and management team and strong execution team.
 

Risks

1.    Dependent on third parties for sourcing and transportation of natural gas. 
2.    Heavily reliant on our CNG and industrial PNG supply operations for revenues.
3.    The company requires 15-18 months to generate and realize revenue.
4.    Any delays in commissioning new CNG filling stations could adversely affect the business.
5.    dependent on Government policies for the allocation of natural gas and the cost of gas supplied for CNG and domestic PNG customers.
 

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FAQs

The minimum lot size of IRM Energy IPO is 29 shares and the investment required is ₹13,920.

The price band of IRM Energy IPO is ₹480 to ₹505.

IRM Energy is open from 18th October to 20th October 2023.
 

The IRM Energy IPO size is ₹545.40, which includes a fresh issue of 10,800,00 equity shares. 

The share allotment date of IRM Energy IPO is 27th of October 2023.

The IRM Energy IPO will be listed on the 31st of October 2023.

HDFC Bank Limited and BOB Capital Markets Limited are the book-running lead managers for IRM Energy IPO.

IRM Energy plans to utilize the raised capital from IPO to:

1.    To fund the capital expenditure for s developing the City as a Distribution network in Namakkal and Tiruchirappalli (Tamil Nadu) during FY24, FY25, and FY26.
2.    To prepay or repay, full/partial borrowings obtained 
3.    Fund general corporate purposes.
 

To apply for IRM Energy IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the IRM Energy IPO.    
●    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.