May 9, 2023
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IRM Energy IPO Particulars & Review @ 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.
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 | (?) ,2023 |
| IPO closes on | (?) ,2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 10,100,000 Sh /Rs (?) Cr |
| * Fresh Issue | 10,100,000 Sh /Rs (?) Cr |
| * Offer for Sale | – Sh /Rs (-) Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. (?) |
| Employee discount | Rs. (?) per share |
| Retail Lot Size | (?) Shares |
| Listing will at | BSE, NSE |
| Shares offered to | Shares | Rs. |
| QIB (? %) | – | Rs (?) Cr |
| NII (? %) | – | Rs (?) Cr |
| RII (? %) | – | Rs (?) Cr |
| Employees | – | Rs (?) Cr |
| Total Shares | – | |
| Retail portion will be oversubscribed by | – Forms | |
| How much Shares to Apply? | ||
| Min Retail Application | – Shares | Rs. – |
| Max Retail Application | – shares | Rs. – |
| Small HNI (Min) application | – Shares | Rs. – |
| Small HNI (Max) application | – shares | Rs. – |
| Big HNI Application | – shares | Rs. – |
| IRM Energy IPO Tentative timetable | |
| IPO opens on. | ,2023 |
| IPO Closes on | ? ,2023 |
| IPO Allotment on | ? ,2023 |
| Unblocking of ASBA | ? ,2023 |
| Credit of Shares | ? ,2023 |
| Listing on | ? ,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. | % | |
| 2019-20 | 166.12 | 21.09 | 8.60 | 28.19 |
| 2020-21 | 212.54 | 35.13 | 12.39 | 29.67 |
| 2021-22 | 549.91 | 113.56 | 43.88 | 52.53 |
| Book Value of the Share on | 31.03.2022 | Rs.82.98 | ||
| Book Value of the Share | after the IPO | Rs. | ||
| Offer Price | Rs. – | |||
| Ratio Analysis | |
| Upper Price Band/last EPS | – |
| Upper offer price/Book Value Ratio | – |
| Upper offer price/BV after IPO Ratio | – |
IRM Energy IPO Particulars & Review: Peer Comparison
| As on date of DRHP | Total Income Rs. | Face | PE |
| Income | Value | Ratio of | |
| Rs. In Cr | Rs | ||
| The IPO Company | 549.91 | 10 | (?) |
| Gujarat Gas | – | 2 | 27.71 |
| Indraprastha Gas | – | 2 | 2038 |
| Mahanagar Gas | – | 10 | 14.60 |
| Adani Total Gas | 1 | 798 | |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
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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