IRM Energy IPO

IRM IPO Research :

    1. The recently coming IPO of IRM Energy IPO marks a notable entry into the public market. Priced at 480 to 505  per share.
    2. The offering aims to raise 545.40cr  for :-
    • Funding capital expenditure requirements for the 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;
    • Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and
    • General corporate purposes.

         

  1. P/E :- 24.13

    Market Capitalization:- 2073.51

    ROE:-  18.23%

    ROCE :- 14.19%

    Debt / Equity :- 0.93

    EPS :- 20.93

    RoNW- 18.23%

    3.It faces opportunities and challenges such as they can have a potential to grow in Indian and global market and challenges are they have to face big players in the market and raw material price . 

    1. With a seasoned leadership team led by DR Rajiv Indravadan modi and Cadila Pharmaceuticals Limited and IRM trust

    Understand the Basics:

    IPO DETAILS

     Date of IPO

    October 18, 2023 to October 20, 2023

    Listing Date

    [.]

    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

    Time line for IPO

    Open Date Of IPO

    Wednesday, October 18, 2023

    Close Date Of IPO

    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

    Tuesday, October 31, 2023

    Cut-off time for UPI mandate confirmation

    5 PM on October 20, 2023

     

    LOT SIZES

    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

    ANCHOR INVESTORS

    Bid Date

    September 27, 2023
    Shares Offered 3,704,044
    Portion Size (In Cr.) 20.00
    lock-in period end date for 50% shares (30 Days) November 22, 2023
    lock-in period end date for remaining shares (90 Days) February 16, 2024

    Company Background:-

    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.

     Vision

    • To be an integrated, value-driven energy enterprise, by realizing the potential of natural gas, realizing value from technology, striving for excellence in performance, and contributing to the Enterprise and Society.

     Mission

    • Achieve sustainable development and highly profitable growth.
    • Serve the growing energy needs of our geographical areas.
    • Adopt the latest technologies and implement best practices, thus achieving performance.
    • Meet and exceed customer expectations in terms of quality and service.
    • Maintain high industry standards in Environment, Health and Safety.

     Values

    • Our sense of duty and responsibility in upholding our commitment towards contributing to the well-being of peoples and geographies wherever we operate.

    Financial Performance:-

    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

    Management Team:-

    Dr Rajiv Indravadan Modi

    Cadila pharmaceuticals limited

    Irm trusts

    Conclusion:-

    This post is for educational purpose . Discuss with your advisor before investing.