IRM Energy Limited IPO : Key Information

IRM Energy Limited IPO is set to launch on 18 October, 2023. The company initiated its business operations in the year 2015. It is a gas distribution company. The company operates, develops and expands local gas distribution networks. The company serves commercial, industrial, automobile and domestic customers. It works in various areas of Gujarat, Punjab, and Diu-Daman. Its natural gas is supplied to more than 48000 domestic clients, 249 commercial units and 179 Industrial units. Till date the company has 216 CNG Gas stations.

IRM Energy Limited IPO DETAILS

IRM Energy Limited IPO is set to launch on 18 October, 2023. The subscription timeline extends till 20 October, 2023. The size for the IPO is 545.40 Crore Rs. Shares issued through fresh issue mode are worth 545.40 Crore Rs. No shares are Issued through offer for sale mode. The lot size is 29 shares and the price is 480 to 505 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.

Tabular Description of IRM Energy Limited IPO 

IRM Energy Limited IPO : IMPORTANT DATES

IRM Energy Limited IPO begins for subscription from 18 October, 2023. The IPO subscription would continue till 20 October, 2023. The allotment status for the shareholders who applied would come on 27 October, 2023. The refunds for the ones who did not get allotment would be initiated on 27 October, 2023. The DEMAT accounts of shareholders would be credited on 30 October, 2023. The listing of the company would be completed on 31 October, 2023.

IRM Energy Limited IPO : Lead Managers

The lead managers are :

• BOB Capital Markets Limited
• HDFC Bank Limited

The minimum lot size for the company is decided at 29 shares. This holding accounts to 14645 Rs.. The maximum lot size is decided at 377 shares. This amounts to 190385 Rs.. Hence the company’s final holdings would be set as :

OBJECTIVES FOR THE IPO

• IPO proceeds would be used for general corporate purposes.
• The company will use the IPO money for further working capital requirements.
• The money will be used for payments of borrowings of the firm and also for the expansion of the firm.

COMPANY FINANCIALS

IRM Energy Limited had an asset base of 338 Crore Rs in the year 2021. This increased to 554 Crore Rs in the year 2022. In the year 2023 this increased to 792 Crore Rs. The revenue of the firm was 212 Crore Rs in the year 2021. This increased to 549 Crore Rs in 2022 and 1045 Crore Rs in the year 2023. The profit of the firm was 34 Crore Rs in the year 2021. However in the year 2022 this increased to 128 Crore Rs. The profit decreased to 63 Crore Rs.

PROS

• The company operates, develops and expands local gas distribution networks. 
• The company serves commercial, industrial, automobile and domestic customers. 
• It works in various areas of Gujarat, Punjab, and Diu-Daman. 
• Its natural gas is supplied to more than 48000 domestic clients, 249 commercial units and 179 Industrial units. 
• Till date the company has 216 CNG Gas stations.

CONS

• The company works in a highly competitive segment.

IRM Energy Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1. Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
2. Click the IRM Energy Limited IPO button and press the BID button.
3. Entering the details asked for like UPI ID, Quantity and price.
4. Submit the application form for the IPO.
5. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.