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IRM Energy IPO is a book build issue of ₹545.00 crores. The issue is entirely a fresh issue of 1.08 crore shares of ₹545.00 crore.
IRM Energy IPO bidding started from Oct 18, 2023 and ended on Oct 20, 2023. The allotment for IRM Energy IPO was finalized on Oct 27, 2023. The shares got listed on BSE, NSE on Oct 26, 2023.
IRM Energy IPO price band is set at ₹505.00 per share . The lot size for an application is 29. The minimum amount of investment required by an retail is ₹13,920 (29 shares). The lot size investment for sNII is 14 lots (406 shares), amounting to ₹2,05,030, and for bNII, it is 69 lots (2,001 shares), amounting to ₹10,10,505.
The issue includes a reservation of up to 2,16,000 shares for employees offered at a discount of ₹48.00 to the issue price.
HDFC Bank Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to IRM Energy IPO RHP for detailed Information.
| IPO Date | October 18, 2023 to October 20, 2023 |
| Listing Date | October 26, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹480 to ₹505 per share |
| Issue Price Final | ₹505 per share |
| Lot Size | 29 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 1,08,00,000 shares (aggregating up to ₹545.00 Cr) |
| Employee Discount | ₹48.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 4,10,59,677 shares |
IRM Energy IPO offers total 1,08,00,000 shares. Out of which 52,92,000 (49.00%) allocated to QIB, 21,16,800 (19.60%) allocated to QIB, 15,87,600 (14.70%) allocated to NII, 37,04,400 (34.30%) allocated to RII and 31,75,200 (29.40%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 52,92,000 (49.00%) | NA |
| − Anchor Investor Shares Offered | 31,75,200 (29.40%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 21,16,800 (19.60%) | NA |
| NII (HNI) Shares Offered | 15,87,600 (14.70%) | NA |
| − bNII > ₹10L | 10,58,400 (9.80%) | 2,606 |
| − sNII < ₹10L | 5,29,200 (4.90%) | 1,303 |
| Retail Shares Offered | 37,04,400 (34.30%) | 1,27,737 |
| Employee Shares Offered | 2,16,000 (2.00%) | NA |
| Total Shares Offered | 1,08,00,000 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
IRM Energy IPO raises ₹160.35 crore from anchor investors. IRM Energy IPO Anchor bid date is October 17, 2023. IRM Energy IPO Anchor Investors list
| Bid Date | October 17, 2023 |
| Shares Offered | 31,75,200 |
| Anchor Portion Size (In Cr.) | 160.35 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 26, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 25, 2024 |
IRM Energy IPO opens on October 18, 2023, and closes on October 20, 2023.
| IPO Open Date | Wed, Oct 18, 2023 |
| IPO Close Date | Fri, Oct 20, 2023 |
| Tentative Allotment | Fri, Oct 27, 2023 |
| Initiation of Refunds | Fri, Oct 27, 2023 |
| Credit of Shares to Demat | Mon, Oct 30, 2023 |
| Tentative Listing Date | Thu, Oct 26, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Oct 20, 2023 |
Investors can bid for a minimum of 29 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 29 | ₹14,645 |
| Retail (Max) | 13 | 377 | ₹1,90,385 |
| S-HNI (Min) | 14 | 406 | ₹2,05,030 |
| S-HNI (Max) | 68 | 1,972 | ₹9,95,860 |
| B-HNI (Min) | 69 | 2,001 | ₹10,10,505 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2015, IRM Energy Limited is a gas distribution company. The company is involved in developing, operating, and expanding of local natural gas distribution network. IRM Energy is a value-driven energy enterprise serving industrial, commercial, domestic, and automobile customers.
The company has marked its presence in Banaskantha District in the state of Gujarat, Fatehgarh Sahib in the state of Punjab, and Diu & Gir-Somnath in the Union Territory of Daman & Diu and the state of Gujarat.
The company is fulfilling the natural gas requirements of 48172 domestic clients, 179 industrial units, and 248 commercial clients.
The company has received an award of City Gas Distribution- Growing Company of the Year 2020 from the Federation of Indian Petroleum Industries.
As of September 2022, the company has 216 CNG gas stations across its operating geographical areas.
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 |
| Total Income | 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 market capitalization of IRM Energy IPO is ₹2073.51 Cr.
| KPI | Values |
|---|---|
| ROE | 18.23% |
| ROCE | 14.19% |
| Debt/Equity | 0.93 |
| RoNW | 18.23% |
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
[Dilip Davda] IEL is an emerging player in CGD segment with penetration in three states where ample opportunities are envisaged. The company marked growth in its top and bottom lines except for FY23 where it marked pressure on margins following surge in petroleum and gas prices due to Ukraine-Russia war. FY24-Q1 performance indicates return of normalcy and the management is confident of maintaining growth. Based on annualized FY24 numbers, the issue appears fully priced. It is a long race horse. Investors may park funds for the medium to long term rewards. Read detail review...
| Listing Date | October 26, 2023 |
| BSE Script Code | 544004 |
| NSE Symbol | IRMENERGY |
| ISIN | INE07U701015 |
| Final Issue Price | ₹505 per share |
| BSE Listing Group | B |
IRM Energy Ltd.
4th Floor, Block 8, Magnet
Corporate Park, Near Sola Bridge
S.G. Highway, Ahmedabad 380054
Ahmedabad, Gujarat
Phone: +917949031500
Email: investor.relations@irmenergy.com
Website: https://www.irmenergy.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: irmenergy.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
IRM Energy IPO is a main-board IPO of 1,08,00,000 equity shares of the face value of ₹10 aggregating up to ₹545.00 Crores. The issue is priced at ₹505 per share. The minimum order quantity is 29.
The IPO opens on October 18, 2023, and closes on October 20, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in IRM Energy IPO using UPI as a payment gateway. Zerodha customers can apply in IRM Energy IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in IRM Energy IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The IRM Energy IPO opens on October 18, 2023 and closes on October 20, 2023.
IRM Energy IPO lot size is 29, and the minimum amount required for application is ₹14,645.
You can apply in IRM Energy IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for IRM Energy IPO will be done on Friday, October 27, 2023, and the allotted shares will be credited to your demat account by Monday, October 30, 2023. Check the IRM Energy IPO allotment status.
The IRM Energy IPO listing date is on Thursday, October 26, 2023.
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