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IPO Status: Listed [18th Oct 2023 to 20th Oct 2023]
IRM Energy Limited is launching an IPO at NSE and BSE platform. Issue size is 1.08 Cr shares. The subscription period for this IPO is from 18 Oct 2023 to 20 Oct 2023. The face value each at Rs 10 per share and the issue price band for this mainline IPO is ranging from Rs 480 to Rs 505 per shere along with the minimum lot size is Rs 29 sheres or its multiples.
Stay tuned for more information on IRM Energy Limited IPO, including company overview, financials, live subscription, allotment, GMP and more.
| IPO Issue Opening Date: | 18th Oct 2023 |
| IPO Issue Closing Date: | 20th Oct 2023 |
| IPO Issue Price: | ₹480.00-505.00 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| Anchor List: | Download Anchor List |
| IPO Listing At: | BSE, NSE |
| Retail Quota: | Not less than 35% of the Net Issue |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹545.40 Cr |
| Fresh Issue: | ₹545.40 Cr |
| Face Value: | ₹10 Per Equity Share |
| IPO Discount: | Emplopee:48.00 |
| Promoter Holding Pre IPO: | 67.94% |
| Promoter Holding Post IPO: | |
| Allotment Status: | Allotment Status |
| BSE Code: | 544004 |
| NSE Code: | IRMENERGY |
Get important updates regarding IRM Energy IPO tentative timeline covering IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.
| IPO Activity | Date |
|---|---|
| Basis of Allotment Date* | 27th Oct 2023 |
| Refunds Initiation* | 27th Oct 2023 |
| Credit of Shares to Demat* | 30th Oct 2023 |
| IPO Listing Date* | 26th Oct 2023 |
* - Tentative Dates
| IPO Activity | Date |
|---|---|
| Issue Price | ₹480.00-505.00 |
| Market Lot: | 29 Shares |
| 1 Lot Amount: | ₹14645 |
| Min Small HNI Lots(2-10 Lakh): | 406 shares (14 lots) |
| Min Big HNI Lots(10+ Lakh): | 2001 shares (69 lots) |
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Expected Listing Gain | Last Updated |
|---|---|---|---|---|---|
| 26-10-2023 | 505.00 | 18 | 400/5600 | ₹523 (3.56%) | 26-Oct-2023 10:31 |
**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
IRM Energy Limited was established in Des 2015. It is a municipal gas distribution “company in India with operations in Banaskantha (Gujarat), Fatehgarh Sahib (Punjab), Diu & Gir Somnath (Union Territory of Daman and Diu/Gujarat) and Namakkal & Tiruchirappalli (Tamil Nadu) engaged in laying, constructing, operating and expanding the municipal or local natural gas distribution network. It is an integrated, value-based energy company that undertakes natural gas distribution projects in geographic areas (“GAs”) for industrial, commercial, residential and automotive customers and has expanded its capabilities as a CGD company by expanding its existing GAs since 017. The Company focuses on meeting the energy needs of customers in GAs through its pipeline and CNG fueling station network at a competitive price while maintaining high safety standards.
The company has positioned itself as a provider of one of the safest, cleanest and most cost-effective fuels for residential, commercial, industrial and transportation applications. The company markets CNG for use in motor vehicles and PNG for residential, commercial and industrial applications. The Company was recognized by the Federation of Indian Petroleum Industries ("FIPI") as the "City Gas Distribution -Growing Company of the Year 2020" Competitive gas pricing and optimized operating costs have enabled the Company to offer competitively priced gas to its industrial customers in PNG and to enable industrial customers in PNG to switch from other alternative fuels (coal and fuel oil) to natural gas. Compared to competing fuels, the Company offers a more reliable and environmentally friendly alternative fuel for all of its customer segments and is therefore able to tap into potential customer segments in its respective GAs.
| Incorporation | Sector | IPO Issue Size | Website |
| 2015 | Energy enterprise | ₹545.40 Cr | https://www.irmenergy.com/ |
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
Our experts can help you prepare for SME IPO
The table below is live update of IPO bidding details from NSE and BSE.
| Day | QIB | NII | RII | EMP | Total | |
|---|---|---|---|---|---|---|
| # of Shares Offered | 2,116,800 (27.76%) | 1,587,600 (20.82%) | 3,704,400 (48.58%) | 216,000 | 7,624,800 | |
| 1 | 18th Oct 2023 19:04 | 1.07x | 2.61x | 1.82x | 0.38x | 1.74x |
| 2 | 19th Oct 2023 19:04 | 1.18x | 9.12x | 4.41x | 0.95x | 4.40x |
| 3 | 20th Oct 2023 19:04 | 44.73x | 48.34x | 9.29x | 2.05x | 27.05x |
IRM Energy Limited's revenue increased by 90.3% and profit after tax (PAT) dropped by -50.69% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
| Assets | 838.21 | 792.90 | 554.80 | 338.11 | 267.16 |
| Revenue | 248.63 | 1,045.10 | 549.19 | 212.54 | 166.13 |
| Profit After Tax | 26.91 | 63.14 | 128.03 | 34.89 | 21.07 |
| Net Worth | 373.33 | 346.42 | 243.72 | 117.60 | 74.74 |
| Reserves and Surplus | 193.30 | 67.57 | 30.31 | ||
| Total Borrowing | 321.24 | 303.83 | 202.59 | 163.35 | 146.74 |
| Amount in ₹ Crore | |||||
The table below show peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| IRM Energy Limited | 20.93 | 20.93 | 114.48 | 18.23 | Consolidated | |
| Gujarat Gas Limited | 22.2 | 22.2 | 102.09 | 18.69 | 21.75 | Consolidated |
| Indraprastha Gas Limited | 23.42 | 23.42 | 113.3 | 19.21 | 20.67 | Consolidated |
| Mahanagar Gas Limited | 79.98 | 79.98 | 418.53 | 12.64 | 19.11 | Consolidated |
| Adani Total Gas Limited | 4.97 | 4.97 | 26.74 | 125.18 | 18.58 | Consolidated |
Last Updated on 30-Oct-2023 06:02:45
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase IRM Energy IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply IRM Energy IPO with Zerodha.
Alternate approch to apply in IRM Energy IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.
IRM Energy IPO Review and Important Updates
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To subscribe or apply in IRM Energy IPO, you can use the following methods:
| IRM Energy IPO Applying Mode | ||
| Online Application | 3-in-1 Trading Account | If your broker is 3-in-1 service provider, you can apply in IRM Energy IPO directly with your brokers website. Example HDFC Securities, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment. |
| Online Application | 2-in-1 Trading Account | Brokers like Zerodha, TradeSmart Online provides access to applying in IRM Energy IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online. |
| Online Application | ASBA | This is one of the most popular mode of applying in IRM Energy IPO. Most of the Syndicate Banks provide access to apply in IRM Energy IPO via ASBA process. You must have your net banking access, DP ID information to apply in IRM Energy IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account. |
| Offline Application | Physical Form | You can apply in IRM Energy IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app. |
IRM Energy IPO Review and Important Updates
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Applying in IRM Energy IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download IRM Energy IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.
For more details on how to use UPI payment method to apply IRM Energy IPO, please refer article >> Link
IRM Energy IPO Review and Important Updates
Steps to download the online application form for IRM Energy IPO
Or
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IRM Energy IPO is going to be list on 26-10-2023. NSE Code for IRM Energy is IRMENERGY. BSE Code for IRM Energy is 544004.
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IRM Energy IPO Allotment Date is 27-10-2023.
Other relevant questions:
IRM Energy IPO share allotment date?IRM Energy IPO allotment date?
