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IRM Energy IPO is a book built issue of Rs 545.40 crores. The issue is entirely a fresh issue of 1.08 crore shares.
IRM Energy IPO bidding started from October 18, 2023 and ended on October 20, 2023. The allotment for IRM Energy IPO was finalized on Friday, October 27, 2023. The shares got listed on BSE, NSE on October 26, 2023.
IRM Energy IPO price band is set at ₹480 to ₹505 per share. The minimum lot size for an application is 29 Shares. The minimum amount of investment required by retail investors is ₹14,645. The minimum lot size investment for sNII is 14 lots (406 shares), amounting to ₹205,030, and for bNII, it is 69 lots (2,001 shares), amounting to ₹1,010,505.
The issue includes a reservation of up to 216,000 shares for employees offered at a discount of Rs 48 to the issue price.
Hdfc Bank Limited and Bob Capital Markets Limited are the book running lead managers of the IRM Energy IPO, while Link Intime India Private Ltd is the registrar for 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 |
| Price Band | ₹480 to ₹505 per share |
| Lot Size | 29 Shares |
| Total Issue Size | 10,800,000 shares (aggregating up to ₹545.40 Cr) |
| Fresh Issue | 10,800,000 shares (aggregating up to ₹545.40 Cr) |
| Employee Discount | Rs 48 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 30,259,677 |
| Share holding post issue | 41,059,677 |
IRM Energy IPO offers 10,800,000 shares. 2,116,800 (19.60%) to QIB, 1,587,600 (14.70%) to NII, 3,704,400 (34.30%) to RII, 216,000 (2.00%) to employees 3,175,200 (29.40%) to Anchor investors. 127,737 RIIs will receive minimum 29 shares and 1,303 (sNII) and 2,606 (bNII) will receive minimum 406 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 3,175,200 (29.40%) | NA |
| QIB Shares Offered | 2,116,800 (19.60%) | NA |
| NII (HNI) Shares Offered | 1,587,600 (14.70%) | |
| bNII > ₹10L | 1,058,400 (9.80%) | 2,606 |
| sNII < ₹10L | 529,200 (4.90%) | 1,303 |
| Retail Shares Offered | 3,704,400 (34.30%) | 127,737 |
| Employee Shares Offered | 216,000 (2.00%) | NA |
| Total Shares Offered | 10,800,000 (100%) |
IRM Energy IPO raises Rs 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 | 3,175,200 |
| 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 | Wednesday, October 18, 2023 |
| IPO Close Date | Friday, October 20, 2023 |
| Basis of Allotment | Friday, October 27, 2023 |
| Initiation of Refunds | Friday, October 27, 2023 |
| Credit of Shares to Demat | Monday, October 30, 2023 |
| Listing Date | Thursday, October 26, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 20, 2023 |
Investors can bid for a minimum of 29 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 |
| Lot Size Calculator | |||
Dr. Rajiv Indravadan Modi, Cadila Pharmaceuticals Limited, and IRM Trust are the promoters of the company.
| Share Holding Pre Issue | 67.94% |
| 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 |
| 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 market capitalization of IRM Energy IPO is Rs 2073.51 Cr.
| KPI | Values |
|---|---|
| ROE | 18.23% |
| ROCE | 14.19% |
| Debt/Equity | 0.93 |
| RoNW | 18.23% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 20.93 | |
| P/E (x) | 24.13 | 32.8 |
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...
The IRM Energy IPO is subscribed 27.05 times on October 20, 2023 7:02:00 PM. The public issue subscribed 9.29 times in the retail category, 44.73 times in the QIB category, and 48.34 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 44.73 |
| NII | 48.34 |
| bNII (bids above ₹10L) | 52.29 |
| sNII (bids below ₹10L) | 40.46 |
| Retail | 9.29 |
| Employee | 2.05 |
| Total | 27.05 |
Total Application : 1,071,966 (8.39 times)
| Listing Date | October 26, 2023 |
| BSE Script Code | 544004 |
| NSE Symbol | IRMENERGY |
| ISIN | INE07U701015 |
| Final Issue Price | ₹505 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹505.00 |
| ₹479.00 |
| ₹450.05 |
| ₹483.00 |
| ₹472.95 |
| NSE |
|---|
| ₹505.00 |
| ₹477.25 |
| ₹450.00 |
| ₹483.70 |
| ₹473.15 |
IRM Energy Limited
4th Floor, Block 8, Magnet
Corporate Park, Near Sola Bridge
S.G. Highway, Ahmedabad 380054
Phone: +917949031500
Email: investor.relations@irmenergy.com
Website: https://www.irmenergy.com/
Link Intime India Private 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 10,800,000 equity shares of the face value of ₹10 aggregating up to ₹545.40 Crores. The issue is priced at ₹480 to ₹505 per share. The minimum order quantity is 29 Shares.
The IPO opens on October 18, 2023, and closes on October 20, 2023.
Link Intime India Private 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 Shares, and the minimum amount required is ₹14,645.
You can apply in IRM Energy IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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What should be the strategy for IRM . I am holding one Retail.
Thanks for your advice.