IRM Energy IPO GMP (Grey Market Premium)
by 5paisa Research Team
11 Oct 2023
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 26-Oct-23
- IPO Price Range ₹480
- Listing Price ₹479
- Listing Change -5.1 %
- Last Traded Price ₹553.35
- Current Change 9.6 %
IRM Energy IPO Details
- Open Date 18-Oct-23
- Close Date 20-Oct-23
- Lot Size 29
- IPO Size ₹ 545.40 Cr
- IPO Price Range ₹ 480 to ₹ 505
- Min Investment ₹ 13,920
- Listing Exchange BSE, NSE
- Basis of Allotment 27-Oct-23
- Refunds 27-Oct-23
- Credit to Demat Account 30-Oct-23
- Listing Date 31-Oct-23
IRM Energy IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 18-Oct-23 | 1.07 | 2.61 | 1.80 | 1.73 |
| 19-Oct-23 | 1.18 | 9.10 | 4.39 | 4.38 |
| 20-Oct-23 | 44.73 | 48.34 | 9.29 | 27.05 |
IRM Energy IPO Synopsis
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:
About IRM Energy
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
IRM Energy Financial Status
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 |
IRM Energy IPO Key Points
-
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.
IRM Energy
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
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 -
Approve the mandate request on your UPI and funds
will be blocked
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IRM Energy IPO FAQs
What is the minimum lot size and investment required for the IRM Energy IPO?
The minimum lot size of IRM Energy IPO is 29 shares and the investment required is ₹13,920.
What is the price band of IRM Energy IPO?
The price band of IRM Energy IPO is ₹480 to ₹505.
When does the IRM Energy IPO opens and closes?
IRM Energy is open from 18th October to 20th October 2023.
What is the size of the IRM Energy IPO?
The IRM Energy IPO size is ₹545.40, which includes a fresh issue of 10,800,00 equity shares.
What is the allotment date of the IRM Energy IPO?
The share allotment date of IRM Energy IPO is 27th of October 2023.
What is the IRM Energy IPO listing date?
The IRM Energy IPO will be listed on the 31st of October 2023.
Who are the book runners for the IRM Energy IPO?
HDFC Bank Limited and BOB Capital Markets Limited are the book-running lead managers for IRM Energy IPO.
What is the objective of the 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.
How to apply for the IRM Energy IPO?
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.
Contact Details of IRM Energy IPO
Contact Information
IRM Energy Limited
4th Floor, Block 8, Magnet
Corporate Park, Near Sola Bridge
S.G. Highway, Ahmedabad 380054
Phone: +917949031500
Email: investor.relations@irmenergy.com
Website: https://www.irmenergy.com/
IRM Energy IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: irmenergy.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
IRM Energy IPO Lead Manager
HDFC Bank Limited
BOB Capital Markets Limited
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