Open Date
18 Oct 2023
20 Oct 2023
29 shares
₹545.40 Cr
Lot Size
IPO Size
Listing At
NSE SME
Listing Date
Price Range
₹86 per share
Close Date
Allotment Date
27 Oct 2023
31 Oct 2023
IRM Energy Limited, founded in 2015, is a gas distribution firm. The corporation is responsible for the development, operation, and expansion of the local natural gas distribution network. IRM Energy is a value-driven energy company that serves industrial, commercial, residential, and automotive customers. The company has established a presence in Gujarat's Banaskantha District, Punjab's Fatehgarh Sahib, and the Union Territory of Daman & Diu and Gujarat's Diu & Gir-Somnath.
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects: 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. General corporate purposes.
The book-running lead managers to the offer are: Hdfc Bank Ltd Bob Capital Markets Ltd
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