IRM Energy IPO Details ( IRM Energy Limited IPO Review )
(18 Oct 2023 – 20 Oct 2023)
IRM Energy Limited, founded in 2015, is a gas distribution company. They work on creating and running local natural gas networks. They provide gas to homes, businesses, and vehicles.
IRM Energy serves customers in places like Banaskantha District in Gujarat, Fatehgarh Sahib in Punjab, and Diu & Gir-Somnath in Daman & Diu and Gujarat.
They supply natural gas to 48,172 homes, 179 businesses, and 248 shops.
In 2020, they received the “City Gas Distribution- Growing Company of the Year” award from the Federation of Indian Petroleum Industries.
By September 2022, they had 216 CNG gas stations in the areas they serve.
IRM Energy Limited IPO Competitive Strength
- 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
- Connectivity to gas pipelines and establishing cost-effective gas sourcing arrangements
- Strong financial performance with consistent growth and profitability supported by healthy operating efficiency and favourable regulations
IRM Energy IPO Financials Performance ( Results )
IRM Energy Limited Financial Information (Restated Consolidated)
All Amount in ₹ Crores
| Period Ended | Total Assets | Total Revenue | PAT | EPS (₹) | Net Worth | NAV (₹) | Reserves | Borrowing |
| 31-Mar-20 | 267.16 | 166.13 | 21.07 | 8.60 | 74.74 | 30.31 | 146.74 | |
| 31-Mar-21 | 338.11 | 212.54 | 34.89 | 12.39 | 117.60 | 67.57 | 163.35 | |
| 31-Mar-22 | 554.80 | 549.19 | 128.03 | 43.88 | 243.72 | 82.98 | 193.30 | 202.59 |
| 31-Mar-23 | 792.90 | 1,045.10 | 63.14 | 20.93 | 346.42 | 114.48 | 303.83 | |
| 30-Jun-23 | 838.21 | 248.63 | 26.91 | 8.89 | 373.33 | 123.38 | 321.24 |
Objective of IRM Energy IPO Issue
- 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; and
- General corporate purposes.
IRM Energy IPO Basic Details
| IPO Date | Oct 18, 2023 to Oct 21, 2023 |
| Listing Date | Tuesday, October 31, 2023 |
| Face Value | ₹10 per share |
| Price | ₹480 to ₹505 per share |
| Lot Size | 29 Shares |
| Issue Size | 10,800,000 shares of ₹10 (aggregating up to ₹545.40 Cr) |
| Fresh Issue | 10,800,000 shares of ₹10 (aggregating up to ₹545.40 Cr) |
| Issue Type | Book Built Issue IPO |
| Employee Discount | Rs 48 per share |
| Listing At | NSE, BSE |
| Share holding pre issue | 30,259,677 |
| Share holding post issue | 41,059,677 |
| Company Promoters | Dr. Rajiv Indravadan Modi, Cadila Pharmaceuticals Limited, and IRM Trust |
IRM Energy IPO Reservation
| QIB Shares Offered | 50% of the Net Issue |
| NII (HNI) Shares Offered | 15% of the Net Issue |
| Retail Shares Offered | 35% of the Net Issue |
IRM Energy IPO Timetable
IRM Energy IPO will open on October 18, 2023 and close on October 21, 2023. You can join IRM Energy IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 18 October 2023 (Wednesday) |
| Closing Date | 21 October 2023 (Friday) |
| Basis of Allotment | 27 October 2023 (Friday) |
| Initiation of Refunds | 27 October 2023 (Friday) |
| Credit of Shares to Demat | 30 October 2023 (Monday) |
| Listing Date | 31 October 2023 (Tuesday) |
| Deadline for UPI mandate confirmation | 5 PM on 20 October 2023 |
IRM Energy IPO Lot Size
For retail investors in IRM Energy IPO, 29 shares will come in 1 lot or the minimum investment will be ₹14,645. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹190,385.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 29 | ₹14,645 |
| Retail (Max) | 13 | 377 | ₹190,385 |
| S-HNI (Min) | 14 | 406 | ₹205,030 |
| S-HNI (Max) | 68 | 1,972 | ₹995,860 |
| B-HNI (Min) | 69 | 2,001 | ₹1,010,505 |
IRM Energy IPO Promoter Holding
The company’s promoters include Dr. Rajiv Indravadan Modi, Cadila Pharmaceuticals Limited, and IRM Trust.
| Pre Issue Share Holding | 67.94% |
| Post Issue Share Holding | – |
IRM Energy Ltd IPO Key Performance Indicator ( Valuation )
In the table given below, all the figures have been told according to the latest financial year.
| KPI | Values |
| Market Cap (₹ Cr.) | Coming Soon |
| Earning Per Share (EPS) | ₹20.93 per Equity Share |
| Net Asset Value (NAV) | ₹114.48 per Equity Share |
| P/E Ratio (P/E) (x) | 18.62 |
| Return on Net Worth (RoNW) (%) | 18.23 |
| Return on equity (ROE) (%) | 18.23 |
| Return on Capital Employed (ROCE) (%) | 14.19 |
| Debt/Equity Ratio | 0.93 |
IRM Energy Ltd Peer Comparison
| Company Name | Consolidated/ Standalone | Face Value | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) |
| IRM Energy Limited | Consolidated | 10 | 20.93 | 18.62 | 18.23 | 114.48 |
| Peer Group | ||||||
| Gujarat Gas Limited | Consolidated | 2 | 22.20 | 18.69 | 21.75 | 102.09 |
| Indraprastha Gas Limited | Consolidated | 2 | 23.42 | 19.21 | 20.67 | 113.30 |
| Mahanagar Gas Limited | Standalone | 10 | 79.98 | 12.64 | 19.11 | 418.53 |
| Adani Total Gas Limited | Consolidated | 1 | 4.97 | 125.18 | 18.58 | 26.74 |
IRM Energy IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| 19 October 2023 | ₹50 | – | – |
| 18 October 2023 | ₹50 | – | – |
| 17 October 2023 | ₹55 | – | – |
| 16 October 2023 | ₹65 | – | – |
| 15 October 2023 | ₹65 | – | – |
| 14 October 2023 | ₹65 | – | – |
IRM Energy IPO Detail Video:
IRM Energy IPO Subscription Status (Bidding Detail)
The IRM Energy IPO on October 20, 2023 at 7:30:00 PM was subscribed 27.05 times, with the retail category being subscribed 9.29 times, the NII (Non-Institutional Investor) category being subscribed 48.34 times, QIB (Qualified-Institutional Buyers) category being subscribed 44.73 times.
| Category | Subscription |
| QIB | 44.73x |
| NII | 48.34x |
| Retail | 9.29x |
| Employee | 2.05x |
| Total | 27.05x |
IRM Energy IPO Prospectus
| IRM Energy IPO DRHP | Download |
| IRM Energy IPO RHP | Download |
| IRM Energy IPO Anchor Investors Details PDF | Download |
IRM Energy IPO Rating
| Our Rating | 3.5.0/5.0 |
IRM Energy Company Contact Information
IRM Energy Limited
Registered and Corporate Office: 4th Floor, Block 8, Magnet Corporate Park, Near Sola Bridge, S.G. Highway Ahmedabad, Gujarat – 380054
Tel: +91 79490 31500
Website: www.irmenergy.com
Contact Person: Shikha Jain, Company Secretary and Compliance Officer
E-mail: investor.relations@irmenergy.com
Corporate Identity Number: U40100GJ2015PLC085213
Our Promoters: Dr. Rajiv Indravadan Modi, Cadila Pharmaceuticals Limited and Irm Trust
IRM Energy IPO Registrar
Link Intime India Private Limited
Registered Office: C-101, 1st Floor, 247 Park L.B.S. Marg Vikhroli,
West Mumbai – 400 083, Maharashtra, India.
Tel: +91 22 4918 6200
E-mail: irmenergy.ipo@linkintime.co.in
Investor grievance e-mail: irmenergy.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact person: Shanti Gopalkrishnan
SEBI registration no.: INR000004058
IRM Energy IPO Lead Manager
HDFC Bank Limited
Registered Office: Investment Banking Group,Unit No. 401 & 402,
4th Floor, Tower B, Peninsula Business Park, Lower Parel,
Mumbai 400 013, Maharashtra, India
Tel: +91 22 3395 8233
E-mail: irmipo@hdfcbank.com
Investor grievance e-mail: investor.redressal@hdfcbank.com
Website: www.hdfcbank.com
Contact person: Kunal Thakkar / Dhruv Bhavsar
SEBI registration no.: INM000011252
BOB Capital Markets Limited
Registered Office: 1704, B Wing, 17th Floor, Parinee Crescenzo
Plot No. C – 38/39, G Block, Bandra Kurla Complex, Bandra (East),
Mumbai 400 051, Maharashtra, India
Tel: +91 22 61389 353
E-mail: irm.ipo@bobcaps.in
Investor grievance e-mail: investorgrievance@bobcaps.in
Website: www.bobcaps.in
Contact person: Ninad Jape/Nivedika Chavan
SEBI registration no.: INM000009926
IRM Energy IPO FAQs
What is the lot size of IRM Energy IPO?
The total size of IRM Energy IPO is ₹545.40 crores and this is a complete fresh Issue.
When will IRM Energy IPO start?
IRM Energy IPO will open from 18 October 2023 and IPO will close on 20 October 2023.
What is the open date of IRM Energy IPO?
IRM Energy IPO will open date from 18 October 2023.
What is the last date ( close date ) of IRM Energy IPO?
IRM Energy IPO will close from 20 October 2023.
What is the price band of IRM Energy IPO?
IRM Energy IPO price band is ₹480 to ₹505. ( Upper Price Band: ₹505, Lower Price Band: ₹480 )
What is the minimum amount required to apply for IRM Energy IPO?
The minimum investment for retailers to apply for IRM Energy IPO is ₹14,645 and the maximum investment is ₹190,385.
What is going on gray market premium of IRM Energy IPO?
View gray market premium of IRM Energy IPO by Clicking Here
How much is the GMP of IRM Energy IPO?
Watch IRM Energy IPO GMP Today: Click Here
What is the allotment date of IRM Energy IPO?
The allotment date of IRM Energy IPO is 27 October 2023.
How to check allotment status in IRM Energy IPO?
To check the allotment status of IRM Energy IPO, first of all go to the registrar website by clicking here, select your bad IRM Energy IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of IRM Energy IPO?
The listing date of IRM Energy IPO is 31 October 2023.
How much will be the listing gain in IRM Energy IPO?
View listing gain of IRM Energy IPO by Clicking Here
How much time IRM Energy IPO is subscribed?
Total 27.05 times subscribed in IRM Energy IPO out of which 9.29 times subscription was done in retail quota, 48.34 times subscription in NII quota and 44.73 times subscription in QIB quota.
How to apply for IRM Energy IPO from Upstox?
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How to apply for IRM Energy IPO from Zerodha?
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How to apply for IRM Energy IPO from Angle One?
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