About IRM Energy Limited
Incorporated in 2015, IRM Energy Limited is a city gas distribution (CGD) company that operates in cities like Gujarat, Punjab, Daman and Diu, and Tamil Nadu. In July 2017, the company received its first license from the Petroleum and Natural Gas Regulatory Board (PNGRB) to lay, build, operate and expand the city or local natural gas distribution network.
It sources natural gas from suppliers such as Gas Authority of India Limited (GAIL) and Reliance Industries Limited (RIL). Moreover, it has subscribed to a proprietary membership from the Indian Gas Exchange allowing access to the natural gas free market, where a free exchange mechanism discovers prices.
This natural gas is then supplied to its customers, which include operators of public transport vehicles such as taxis, auto-rickshaws, and private vehicles such as cars, buses, light goods vehicles and heavy goods vehicles for CNG. On the other hand, its PNG customers are classified as industrial PNG, commercial PNG such as hotels, bakeries etc, and domestic PNG.
As of 30 June 2023, the company covers 3,898 inch-km of supply network and 66 CNG filling stations. It also handled a combined total volume of 196 MMSCM (Million Metric Standard Cubic Meter) in FY23.
In the last three years, it saw a CAGR rise of over 69% in its revenue from operations and EBITDA margins of 38%, 39% and 12% in FY21, FY22 and FY23 respectively. Additionally, the natural gas demand from the CGD sector is expected to grow at a CAGR of 19% to 20% between FY22 and FY30, which could benefit the company.
And now, IRM Energy Limited is coming out with its initial public offer (IPO). The entire IPO will be a fresh issue. The money raised through the fresh issue will be utilised to repay borrowings, fund the development of the city gas distribution network in the geographical areas of Tamil Nadu and for general corporate purposes. Its shares will be listed on the NSE and the BSE.
Here are key details about the IRM Energy Limited IPO:
Here’s a quick look at IRM Energy Limited IPO’s strengths, weakness, opportunities and risks (SWOT analysis)
Strengths and opportunities
Risks and threats
IRM Energy Limited IPO details
|IRM Energy Limited IPO date
According to the offer document filed by the company with the SEBI, the IRM Energy IPO’s opening date – in other words, the IRM Energy IPO launch date – will be 18th October 2023. The IRM Energy IPO closing date is 20th October 2023. After this, investors will be updated about the allotment status on 26th October 2023.
Investors, who have been allotted shares, can expect them to be credited to their demat account on 30th October 2023. The IRM Energy IPO listing date is 31st October 2023. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE.
|IRM Energy Limited IPO Price Band
The entire IPO a fresh issue. The IRM Energy IPO price band has been set between ₹480 and ₹505 per share. Interested investors can choose a price within this band to apply for the IPO.
The IRM Energy IPO listing price will be determined on 31st October 2023. The listing price is the price at which a company’s shares debut on the stock exchanges.
|IRM Energy Limited IPO Lot size
The IRM Energy IPO details have been declared. The IRM Energy IPO lot size is set at 29 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the IRM Energy IPO issue size is approx ₹544 crore.
How to pre-apply for the IRM Energy Limited IPO?
You can pre-apply for the IRM Energy Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription.
Follow these steps to pre-apply for the IPO:
How to apply for the IRM Energy Limited IPO?
If you are interested in this investment opportunity but unsure how to apply for the IRM Energy Limited IPO, here we are listing out the steps for you.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the IRM Energy Limited IPO on Upstox:
How to check the IRM Energy Limited IPO allotment status?
When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes.
Here’s a step-by-step guide on how to check the IRM Energy Limited IPO allotment status:
Open a demat account with Upstox to apply for the IRM Energy Limited IPO
To apply for the IRM Energy Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.
Here is a step-by-step guide on how to open a demat account with Upstox:
This is all it takes to open a demat account with Upstox. Easy and quick, right?
Pre-applying for the IRM Energy IPO means applying for this public issue before it goes live. Click here to pre-apply for the IRM Energy IPO on Upstox.
You can pre-apply for the IRM Energy IPO from 16th October 2023. Once the IPO goes live, you will receive a UPI mandate. Accept this to block the IPO application amount and successfully place your bid.
You can apply on Upstox’s website and app, once the IRM Energy IPO opens for the subscription.
The IRM Energy IPO launch date is 18th October 2023. The IRM Energy IPO will be open for subscription till 20th October 2023.
The IRM Energy lot size is 29 shares and the minimum investment required is ₹14,645.
The IRM Energy IPO price band is ₹480 – ₹505 per share.
The size of the IRM Energy IPO is approx. ₹544 crore.
You can place up to three bids for an application.
No, the bids have to be placed in one go. If you want to add an additional bid, then you would have to delete your application and re-apply.
If shares are allotted, then they will be credited to your demat account on 30th October 2023.
IRM Energy shares will be on NSE and BSE.
IRM Energy shares’ listing date is 31st October 2023.