“IRM Energy Limited Ignites Opportunities: A Look at the IPO”

IRM Energy Limited IPO

About IRM Energy Limited:

Bringing Energy Closer: IRM Energy’s Gas Distribution Network

Delivering Sustainable Energy Solutions Incorporated in 2015, IRM Energy Limited is a pioneering gas distribution company, focusing on local natural gas distribution networks. With a strong presence in regions across Gujarat, Punjab, and Union Territory of Daman & Diu, IRM Energy is dedicated to providing reliable natural gas services to a diverse clientele, from domestic households to thriving industries.

Serving the Energy Needs IRM Energy caters to an extensive customer base, comprising 48,172 domestic clients, 179 industrial units, and 248 commercial clients. This versatile approach positions the company as a key player in the energy sector, addressing the varied gas requirements of its consumers.

Recognized Excellence In acknowledgment of its outstanding contributions to the City Gas Distribution segment, IRM Energy Limited received the “City Gas Distribution- Growing Company of the Year 2020” award from the Federation of Indian Petroleum Industries. This accolade reflects the company’s commitment to growth and sustainability.

Expanding Access, Minimizing Footprint IRM Energy Limited is driving sustainability and convenience through a network of 216 CNG gas stations across its operational areas, making clean and efficient energy more accessible to the masses. With a focus on expansion and environmental responsibility, IRM Energy is illuminating the path towards a greener future.

IRM Energy Limited IPO Details

Face Value₹10 per share
Price Band₹480 to ₹505 per share
Lot Size29 Shares
Total Issue Size10,800,000 shares
(aggregating up to ₹545.40 Cr)
Fresh Issue10,800,000 shares
(aggregating up to ₹545.40 Cr)
Employee DiscountRs 48 per share

Tentative Schedule

IPO Open DateWednesday, October 18, 2023
IPO Close DateFriday, October 20, 2023
Basis of AllotmentFriday, October 27, 2023
Initiation of RefundsFriday, October 27, 2023
Credit of Shares to DematMonday, October 30, 2023
Listing DateTuesday, October 31, 2023

Key Performance Indicator

P/E (x)24.13
Post P/E (x)32.8
Market Cap (₹ Cr.)2073.51
EPS (Rs)20.93

IRM Energy Limited 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 Limited employees

IRM Energy Limited Financial Information

Period Ended31 Mar 202031 Mar 202131 Mar 202231 Mar 202330 Jun 2023
Profit After Tax21.0734.89128.0363.1426.91
Net Worth74.74117.60243.72346.42373.33
Reserves and Surplus30.3167.57193.30
Total Borrowing146.74163.35202.59303.83321.24
Amount in ₹ Crore

Objects of the Issue

Expanding Horizons IRM Energy is committed to enhancing the City Gas Distribution network in the dynamic regions of Namakkal and Tiruchirappalli in Tamil Nadu. This strategic endeavor spans Fiscal 2024, Fiscal 2025, and Fiscal 2026, focusing on bringing clean and efficient natural gas to more communities and industries.

Financial Prudence The company also intends to allocate the proceeds towards the prepayment or partial repayment of existing borrowings. This prudent financial step ensures a stronger and more agile financial structure, reducing interest costs and enhancing operational efficiency.

Fueling Progress In addition to its expansion initiatives and financial optimization, IRM Energy will allocate funds for general corporate purposes. This multifaceted approach reflects the company’s commitment to fueling progress, sustainability, and excellence in the energy sector.

IRM Energy’s strategic use of the net proceeds highlights its vision for growth, efficiency, and sustainability in the energy landscape.

IRM Energy Limited pump at night

IRM Energy IPO Review (Apply)

IEL: Emerging Strong in the CGD Arena

Charting New Territories
IEL has emerged as a formidable contender in the City Gas Distribution (CGD) sector, making significant inroads in three states. With vast opportunities ahead, the company is poised for an exciting journey.

Navigating Challenges
The fiscal year 2023 brought its share of challenges, notably the margin pressures stemming from surges in petroleum and gas prices triggered by global events like the Ukraine-Russia conflict. However, the company demonstrated resilience.

A Promising Start in FY24
The first quarter of fiscal year 2024 signals a positive trajectory, hinting at the return of normalcy. This rebound is encouraging, and the management exudes confidence in maintaining this growth momentum.

A Fully Priced Venture
When looking at annualized FY24 numbers, the issue might appear fully priced. It’s essential to recognize that this journey is a marathon, not a sprint. Investors with a medium to long-term perspective may find IEL a promising avenue for potential rewards.

IEL’s journey is a testament to its resilience and commitment to navigating challenges, eventually emerging stronger. For investors, this is a long race horse worth considering.

IRM Energy IPO Subscription Status

  • Strong Retail Response: Retail investors have shown substantial interest in the IRM Energy IPO, with a subscription rate of 1.18 times.
  • QIB Category Waiting: The QIB category is yet to see subscriptions, indicating a cautious approach from institutional investors.
  • NII Interest: Non-institutional investors (NII) demonstrate enthusiasm with a subscription rate of 1.25 times.
  • Positive Outlook: The retail interest hints at positive prospects for IRM Energy in the gas distribution sector.

Check Day by Day Subscription Details (Live Status)

IRM Energy IPO GMP Today

  • Robust GMP: IRM Energy’s impressive Grey Market Premium (GMP) stands at ₹64, indicating strong investor interest.
  • Potential Listing Price: With a price band of ₹505.00, the IPO’s estimated listing price is ₹569, suggesting a potential gain of 12.67%.
  • Retail Interest: Retail investors are actively participating in the IPO, with a subject-to-sauda figure of ₹1400.
  • Small HNI Participation: Small High Net Worth Individuals (HNI) are also showing interest, with a subject-to-sauda figure of ₹19600.

Check Day by Day GMP Details (Live Status)

IRM Energy IPO

IRM Energy Limited IPO Opening Date ?

Wednesday, October 18, 2023

IRM Energy Limited IPO Price Band ?

₹480 to ₹505 per share

IRM Energy Limited IPO Retail Cost per lot ?


IRM Energy Limited IPO Subscription ?

Open (Sub:1.04x)

IRM Energy Limited IPO GMP Today?


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It is vital to underscore that any decisions based on the information shared here are undertaken at one’s own risk. As with all investments in the stock market, it’s important to acknowledge the inherent and unpredictable risks associated with such endeavors.

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