October 26, 2023
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IRM Energy IPO GMP today Details @ Chanakyanipothi.com, the Oldest & the most Trusted Investment website in India for coming up IPOs. Operational since 8th December 1999, this is the Only Investment website in India, which has successfully completed 23 Years.
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IRM Energy IPO Post Listing Review:
The scrip on 26 October got listed at Rs 477.25, compared to issue price of Rs 505. (Discounted listing)
IRM Energy IPO Live Analysis in English:
https://youtu.be/bXby3JF1iiw
IRM Energy IPO Live Analysis in Gujarati:
https://youtu.be/4OV714wS7EY
IRM Energy IPO To the point Guidance:
1.The IPO comes from Cadila group, India’s leading pharmaceutical company.
2. The company operates in a sector with high growth potential.
3. No competition in its geographical area.
4. IPO size is very small. Just Rs. 80.17 Cr offer for HNI Investors. So, Huge oversubscription expected in HNI and Retail portions.
5. Attractive valuation, offering scope for listing gains.
Must Apply IPO
IRM Energy IPO GMP updates
Premium: Rs. 35
Kostak Rs. –
Subject to Rs. –
HNI kostak
HNI subject to –
IRM Energy IPO Subscription Status
Under Anchor Investors (AIs) portion in the Public Issue of IRM Energy Limited, 31,75,200 equity shares have been subscribed today at Rs. 505/- per equity share.
On 20 October 2023 @ 5.00 (Day 3) (Closed)
Review: strong trend observed at HNI portion
QIB: 2116800 Shares 44.73 T
NII(10L+): 1058400 Shares 40.46 T
NII (<10L) 528200 Shares 52.29 T
NII (Total) 1587600 Shares 48.34 T
RII: 3704400 Shares 9.29 T
Emp: 216000 Shares 2.05 T
Total: 7624800 Shares 27.05 T
Who are the promoters of IRM Energy IPO?
DR. RAJIV INDRAVADAN MODI, CADILA PHARMACEUTICALS LIMITED AND IRM TRUST
IRM Energy IPO Particulars & Review: Its Business
IRM Energy Ltd is a city gas distribution company in India, with operations at Banaskantha (Gujarat), Fatehgarh Sahib (Punjab), Diu & Gir Somnath (Union Territory of Daman and Diu/Gujarat), and Namakkal & Tiruchirappalli (Tamil Nadu), engaged in the business of laying, building, operating and expanding the city or local natural gas distribution network. It is an integrated value driven energy enterprise, developing natural gas distribution projects in the geographical areas allotted to us it for industrial, commercial, domestic and automobile customers, and it has built its competency as a CGD company by development of its existing GAs since 2017. It focuses on meeting the energy needs of customers in its GAs through its pipelines and CNG station network at a competitive price, while maintaining high safety standards. It distributes CNG for use in motor vehicles and PNG for use by domestic households as well as for commercial and industrial units.
It commenced its operations in July 2017, pursuant to the receipt of authorizations for the GAs awarded for Banaskantha and Fatehgarh Sahib, in the sixth round of bidding conducted by the Petroleum and Natural Gas Regulatory Board in July 2016
Its supply network consisted of (i) 3,248 inch kms, including approximately 2,665 inch kms of pipelines of medium density polyethylene (“MDPE”) pipelines and 583 inch kms of steel pipelines for the six months ended September 30, 2022.It served 168 industrial customers, 202 commercial customers, 43,183 domestic customers as at September 30, 2022
The company has established a network of 56 CNG filling stations, comprising 2 stations owned and operated by the Company (“COCO Stations”), 30 CNG stations owned and operated by dealers (“DODO Stations”) and 24 CNG stations owned and operated by oil marketing companies (“OMC Stations”) as at September 30, 2022. For more information, click www.irmenergy.com
What are the Objects of the IRM Energy IPO?
The Company proposes to utilise the Net Proceeds from the Issue towards funding the following objects:
1. Funding capital expenditure requirements for development of the City Gas Distribution network in the Geographical Areas of Namakkal and Tiruchirappalli (Tamil Nadu) in Fiscal 2024, Fiscal 2025 and Fiscal 2026
2. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company
| IRM Energy IPO Details | |
| IPO opens on | 18 October ,2023 |
| IPO closes on | 20 October ,2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 10800000 Sh/Rs 544.36 Cr |
| * Fresh Issue | 10800000 Sh/Rs 544.36 Cr |
| * Offer for Sale | – Sh /Rs (-) Cr |
| for exmployees | 216000 shares |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 480-505 |
| Employee discount | Rs. 48 per share |
| Retail Lot Size | 29 Shares |
| Listing will at | BSE, NSE |
| Shares offered to | Shares | Rs. |
| QIB (50 %) | 5292000 | 267.25 Cr |
| NII (15 %) | 1587600 | 80.17 Cr |
| RII (35 %) | 3704400 | 187.07 Cr |
| Employees | 216000 | 9.87 Cr |
| Total Shares | 10800000 | 544.36 Cr |
| Retail portion will be oversubscribed by | 127738 Forms | |
| How much Shares to Apply? | ||
| Min Retail Application | 29 Shares | Rs.14645 |
| Max Retail Application | 377 sh | Rs.190385 |
| Small HNI (Min) application | 406 Sh | Rs.205030 |
| Small HNI (Max) application | 1972 sh | Rs. 995860 |
| Big HNI Application | 2001 sh | Rs. 1010505 |
| IRM Energy IPO Tentative timetable | |
| IPO opens on. | 18 October 2023 |
| IPO Closes on | 20 October 2023 |
| IPO Allotment on | 26 October 2023 |
| Unblocking of ASBA | 27 October 2023 |
| Credit of Shares | 30 October 2023 |
| Listing on | 31 October 2023 |
| Registered Office of IRM Energy | |
| 4th Floor, Block 8, Magnet Corporate Park, Near Sola Bridge, S.G. Highway Ahmedabad, Gujarat – 380054 | |
| IPO Lead Managers HDFC Bank Limited BOB Capital Markets |
|
| Registrar to IPO | |
| Link Intime India Private Limited |
| IRM Energy IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 189.57 | 34.89 | 12.39 | 29.67 |
| 2021-22 | 507.15 | 128.03 | 43.88 | 52.53 |
| 2022-23 | 980.09 | 63.15 | 20.93 | 18.23 |
| Book Value of the Share on | 31.03.2023 | Rs.114.48 | ||
| Book Value of the Share | after the IPO | Rs.216.95 | ||
| Offer Price | Rs. 505 | |||
| Ratio Analysis | |
| Upper Price Band/last EPS | 24.12 |
| Upper offer price/Book Value Ratio | 4.41 |
| Upper offer price/BV after IPO Ratio | 2.32 |
IRM Energy IPO Particulars & Review: Peer Comparison
| As on date of RHP | Total Income Rs. | Face | PE |
| Income | Value | Ratio of | |
| Rs. In Cr | Rs | ||
| The IPO Company | 980 | 10 | 24.13 |
| Gujarat Gas | 16759 | 2 | 18.69 |
| Indraprastha Gas | 14146 | 2 | 19.21 |
| Mahanagar Gas | 6299 | 10 | 12.64 |
| Adani Total Gas | 4378 | 1 | 125.18 |
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May go to range of 400 as per global market bearish sentiment and GAZA WAR ….SO hold tight and add more for longterm gains….
ENERGY and POWER segment Good Management companies in india are very rare….SO MUST APPLY WITH FULL STRENGTH WHEN IPO COMES….Short term bper gain and Long term Multibagger As per growth of our country and GDP SIZE EXPANSIONS….
Must apply IPO. Waiting for Anchor investors details.
Energy companies have bright future. GMP will improve once the IPO starts.
Cadilla group has strong brand name and the company has very stable and grownig business. In India, the consumption of PNG and CNG is expected to grow at very high rate. So strong business. GMP trades are also seen. I wish to earn good profits in this IPO
please show some lights on below question:-
why should we have to invest in this IPO?
Thanks. Soon detailed IPO analysis with Video coverage will be posted
Pls if possible advice me about the smeipo Kundan Edifice and mangalam alloys I have got one lot in each and this is first time I have applied in the sme IPo.. I got allotment.. but listing is negative
Irm energy IPO KB tk aayega
I love this ipo website …….please upcoming ipos date …and grey market ..regular update
Very elaborate information, you have been providing since last few IPOs. Good action on Chanakya’s part.
Hope Mankind and this one doesnot clash in dates.
I believe with IPO of Mankind and this one IRM, the grey market will be once again active.
Sir, More details about quantity of Retail required.
All the companies like Gujarat gas, Mahanagar Gas, Indraprastha gas and latest on Adani Gas have provided bumper returns. So strong fancy expected.
Reasonably sized IPO and also energy sector, so believe, we shall see good fancy in the grey market and subscriptions.
Intresting ipo…ENERGY SEGMENT