Last updated on December 1, 2023
IRM Energy IPO description – Incorporated in 2015, IRM Energy is engaged in the business of laying, building, operating, and expanding the city or local natural gas distribution network. It is an integrated value-driven energy enterprise, developing natural gas distribution projects in the geographical areas (GAs) for industrial, commercial, domestic, and automobile customers. Natural gas demand from the CGD sector is likely to log growth at 15-16% CAGR between Fiscal 2022 and Fiscal 2030.
IRM Energy 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).
The company distributes CNG for use in motor vehicles and PNG for use by domestic households as well as for commercial and industrial units. IRM Energy served 168 industrial customers, 202 commercial customers, and 43,183 domestic customers as of 30 September 2022.
The company has established a network of 56 CNG filling stations, comprising 2 stations owned and operated by the company (‘COCO Stations’), 30 CNG stations owned and operated by dealers (‘DODO Stations’) and 24 CNG stations owned and operated by oil marketing companies (‘OMC Stations’) as at 30 September 2022.
Promoters of IRM Energy Industries – Dr. Rajiv Indravadan Modi, Cadila Pharmaceuticals Limited, and Irm Trust
IRM Energy IPO Details
| IRM Energy IPO Dates | 18 – 20 October 2023 |
| IRM Energy IPO Price | INR 480 – 505 per share (Employee Discount – INR 48 per share) |
| Fresh issue | 10,800,000 shares INR 518.4 – 544.36 crore |
| Offer For Sale | NA |
| Total IPO size | 10,800,000 shares INR 518.4 – 544.36 crore |
| Minimum bid (lot size) | 29 shares INR 14,645 |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
IRM Energy Financial Performance
| Â | FY 2020 | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 165.66 | 211.81 | 546.14 | 1,039.14 |
| Expenses | 134.80 | 166.46 | 396.83 | 970.66 |
| Net income | 21.03 | 34.87 | 128.04 | 63.08 |
| Margin (%) | 12.69 | 16.46 | 23.44 | 6.07 |
IRM Energy Offer News
- IRM Energy IPO Review: All You Need to Know in 10 Points
- IRM Energy RHP
- IRM Energy DRHP
- Upcoming IPOs in October 2023
- ASBA IPO Forms
- Live IPO Subscription Status
IRM Energy Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | |
| EPS | 8.60 | 12.39 | 43.88 | 20.93 |
| PE ratio | – | – | – | 22.93 – 24.13 |
| RONW (%) | 28.19 | 29.67 | 52.53 | 18.23 |
| NAV | 27.55 | 40.55 | 82.98 | 114.48 |
| ROCE (%) | 16.94 | 19.98 | 39.01 | 14.19 |
| EBITDA (%) | 33.67 | 38.49 | 39.61 | 12.14 |
| Debt/Equity | 1.80 | 1.17 | 0.59 | 0.86 |
IRM Energy IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 25 October 2023 | 50 | 220 | 1,200 |
| 23 October 2023 | 50 | 220 | 1,200 |
| 20 October 2023 | 55 | 230 | 1,400 |
| 19 October 2023 | 70 | 250 | 1,900 |
| 18 October 2023 | 75 | 270 | 2,100 |
| 17 October 2023 | 88 | – | 1,800 |
| 16 October 2023 | 85 | – | 1,700 |
| 14 October 2023 | 95 | – | 1,800 |
| 13 October 2023 | 90 | – | 1,800 |
| 12 October 2023 | 100 | – | 2,000 |
| 11 October 2023 | 120 | – | – |
IRM Energy IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Employees | Total |
|---|---|---|---|---|---|
| Shares Offered | 21,16,800 | 15,87,600 | 37,04,400 | 2,16,000 | 94,96,114 |
| 20 Oct 2023 | 44.73 | 48.34 | 9.28 | 2.04 | 27.05 |
| 19 Oct 2023 | 1.18 | 9.10 | 4.38 | 0.94 | 4.37 |
| 18 Oct 2023 | 1.08 | 4.52 | 2.90 | 0.64 | 2.67 |
IRM Energy IPO Allotment Status
IRM Energy IPO allotment is now available on Link Intime’s website. Click on this link to get allotment status.
IRM Energy IPO Dates & Listing Performance
| IRM Energy IPO Opening Date | 18 October 2023 |
| IRM Energy IPO Closing Date | 20 October 2023 |
| Finalization of Basis of Allotment | 23 October 2023 |
| Initiation of refunds | 24 October 2023 |
| Transfer of shares to demat accounts | 26 October 2023 |
| IRM Energy IPO Listing Date | 26 October 2023 |
| Opening Price on NSE | INR 477.25 per share (down 5.50%) |
| Closing Price on NSE | INR 473.15 per share (down 6.31%) |
IRM Energy IPO Reviews – Subscribe or Avoid?
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Asit C Mehta –
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Samco Securities – Not Rated
SMC Global – 2/5
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IRM Energy Offer Lead Manager
HDFC BANK LIMITED
Investment Banking Group, Unit No. 401 & 402,
4th Floor, Tower B, Peninsula Business Park,
Lower Parel, Mumbai 400 013 Maharashtra, India
Phone: +91 22 3395 8233
Email:Â [email protected]
Website:Â www.hdfcbank.com
IRM Energy Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone:Â +91 22 4918 6200
Email:Â [email protected]
Website: www.linkintime.co.in
IRM Energy Contact Details
IRM ENERGY LIMITED
4th Floor, Block 8, Magnet Corporate Park,
Near Sola Bridge, S.G. Highway Ahmedabad, Gujarat – 380054
Phone: +91 79490 31500
E-mail: [email protected]
Website: www.irmenergy.com
IRM Energy IPO FAQs
How many shares in IRM Energy IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply in IRM Energy Public Offer?
The best way to apply in IRM Energy public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is IRM Energy IPO GMP today?
IRM Energy IPO GMP today is INR 50 per share.
What is IRM Energy’s kostak rate today?
IRM Energy’s kostak rate today is INR 220 per application.
What is IRM Energy Subject to the Sauda rate today?
IRM Energy Subject to Sauda rate today is INR 1,200 per application.
