IRM Energy Ltd IPO - Check Issue Date, Price, Lot Size & Details with BlinkX.

IRM Energy Ltd IPO

IRM Energy Limited 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), engaged in the business of laying, building, operating and expanding the city or local natural gas distribution network. The Company is an integrated value driven energy enterprise, developing natural gas distribution projects in the geographical areas (GAs) allotted to it for industrial, commercial, domestic and automobile customers, and has built its competency as a CGD company by development of its existing GAs since 2017.

IRM Energy Ltd IPO Details

Total Shares Offered

₹ 1,08,00,000

Offer to Public

TBA

Retail Max (Shares)

₹ 37,04,400

Pre Issue Promoters Holding

₹ 2,05,58,773

Exchange

BSE

Issue size

₹ 545.4 Cr

IPO Open Date

Oct 18, 2023

Close Date

Oct 20, 2023

Lot Size

Min Investment

₹ 13,920

Issue Type

Book Building

Listing Date

Oct 26, 2023

IRM Energy Ltd IPO Dates

Oct 18, 2023

Opening date

Oct 20, 2023

Closing date

Oct 23, 2023

Basis of Allotment

Oct 23, 2023

Initiation of Refunds

Oct 25, 2023

Credit of Shares

Oct 26, 2023

Listing date

Details

Sector	Type
Sector	Miscellaneous
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	5292000
NII	0x	1587600
Retail	0x	3704400
Employee	0x	216000
Total	0x	10800000

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

5292000

1587600

3704400

216000

10800000

IRM Energy Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	975.48	890.52	980.09
EBITDA	143.47	172.46	116.24
PAT	47.05	91.50	56.48
Total Assets	430.37	561.85	171.28
Share Capital	51.30	84.41	71.58
Total Borrowings	63.59	70.96	210.87
Operating Activities (Net Cash)	81.87	117.97	77.38
Investing Activities (Net Cash)	-38.86	-59.93	-25.25
Financing Activities (Net Cash)	63.59	70.96	210.87
Net Cashflow	345.32	487.78	98.48

About IRM Energy Ltd

IRM Energy Limited (the Company) was incorporated as a private limited company in the name of `IRM Energy Private Limited' under the Companies Act, 2013 and a certificate of incorporation dated December 1, 2015, was issued by the Registrar of Companies, Gujarat at Ahmedabad (RoC). Subsequently, the Company was converted from a private limited company to a public limited company and the name of the Company was changed to `IRM Energy Limited' pursuant to a board resolution dated February 25, 2022, and a special resolution passed by our shareholders on March 8, 2022, consequent to which a fresh certificate of incorporation dated March 23, 2022, was issued by the RoC.

Natural gas consumption in India clocked a compound annual growth rate (CAGR) of 3.8% between Fiscals 2016 and 2020, rising to ~176 MMSCMD in Fiscal 2020. Natural gas demand from the CGD sector to log 19-20% CAGR between Fiscals 2023 and 2030, growing to 117-120 MMSCMD. Demand from each sub-segment, including CNG and PNG (domestic and industrial) is likely to grow at a healthy pace over the forecast period, with the addition of new cities in the gas network. Increase in penetration is expected to be a key demand driver for the PNG segment.

Peer Comparison:

Gujarat Gas Ltd
Indraprastha Gas Ltd
Mahanagar Gas Ltd
Adani Total Gas Ltd

IRM Energy Ltd Key Points

Strengths

Exclusivity in CNG and PNG supply in the awarded GAs.

Successful development and operation of CGD business.

Diverse customer portfolio and distribution network of CNG and PNG.

Strong parentage, experienced board and management team and strong execution team.

Technology adoption and digital initiatives for efficient and optimal operations.

Risk

The company is dependent on third parties for sourcing and transportation of natural gas. As of June 30, 2023, its procured natural gas from seven suppliers which constituted 100.00% of its total quantity purchased. Any disruption in the receipt of such natural gas from these third parties, or delay or default in timely transportation of the natural gas could lead to a disruption or failure in the supply of natural gas by it, which could adversely affect its business, reputation, results of operations and cash flows.

Transporting natural gas is hazardous and could result in accidents, which could adversely affect its reputation, business, financial condition, results of operations and cash flows.

The company has issued Equity Shares during the preceding one year at a price that may be below the Issue Price.

Strategy

Expand its presence in existing and newer GAs through an improved captive distribution channel.

Infrastructure roll-out for development and operation of the new licensed GA of Namakkal & Tiruchirappalli, Tamil Nadu.

Technology adoption to increase operational efficiency and enhance customer value.

Business integration for transition into a complete energy solution provider.

Continue to focus on sourcing reliable and cost-effective gas from leading Gas Suppliers.

How To Apply for IRM Energy Ltd IPO Online?

Step 1:

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the IRM Energy Ltd IPO?

IRM Energy Ltd's IPO offers shares for up to 545.4 It begins on Oct 18, 2023 and ends on Oct 20, 2023.

What is the price of the IRM Energy Ltd IPO?

The price of IRM Energy Ltd IPO ranges between ₹480 to ₹505 per share.

What are the open and close dates for the IRM Energy Ltd IPO?

The IRM Energy Ltd IPO opens on Oct 18, 2023 and closes on Oct 20, 2023.

When will the IRM Energy Ltd IPO be allotted?

The allotment for the IRM Energy Ltd IPO will be finalised on Oct 23, 2023. The shares will be listed on BSE and NSE on Oct 26, 2023.

What is the minimum lot size required for IRM Energy Ltd IPO?

The minimum lot size for IRM Energy Ltd IPO is 29 shares, priced between ₹480 to ₹505 per share.

What is the GMP of IRM Energy Ltd IPO?

The GMP (Grey Market Premium) of IRM Energy Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of IRM Energy Ltd IPO?

To check the allotment status of IRM Energy Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the IRM Energy Ltd IPO getting listed?

The IRM Energy Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Oct 18, 2023, and closes on Oct 20, 2023. The allotment is finalised on Oct 23, 2023.

How do you apply for the IRM Energy Ltd IPO?

To apply for the IRM Energy Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.