IRM Energy Limited

Company Profile
Company Name IRM Energy Limited
Open Date 18-10-2023
Close Date 20-10-2023
Exchange NSE, BSE
Lot Size 29 Shares
Issue Price ₹480 to ₹505 per share
Issue Size Aggregating up to 545.40 Cr.
Application Amount Min. Inv. - ₹ 14,645 (29 shares) Max. Inv. – ₹ 1,90,385 (377 shares)
Recommendation Apply

IRM Energy Limited was incorporated in the year 2015 and has its registered office in Ahmedabad, Gujarat. The company is engaged in the business of laying, building, operating and expanding the city or local natural gas distribution network. IRM Energy a city gas distribution (“CGD”) 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). Company is an integrated value driven energy enterprise, developing natural gas distribution projects in the geographical areas (“GAs”) allotted to the company for industrial, commercial, domestic and automobile customers, and have built competency as a CGD company by development of its existing GAs since 2017. As of 30th June 23, the Company has 226 employees on its payroll.

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Summary of Financials (All financials in Lakh)

For the Period Ended Mar-22 Mar-23 June-23
Total Assets 554.80 792.90 838.21
Net Assets 243.72 346.42 373.33
Total Borrowings 202.59 303.84 321.24
Total Revenue 549.19 1,045.10 248.63
Profit After Tax 128.03 63.14 26.91

Tentative Timeline

Opening Date 18/10/2023
Closing Date 20-10-2023
Basis of Allotment 27-10-2023
Initiation of Refunds 27-10-2023
Credit of Shares to Demat 30-10-2023
Listing Date 31-10-2023

Objects of the Issue

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 (from December 1, 2023 to March 31, 2024), Fiscal 2025, Fiscal 2026 and Fiscal 2027 (from April 1, 2026 to September 30, 2026).
Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company.
General corporate purposes.

Contact Information

Registered Office IRM Energy Limited - 4th Floor, Block 8, Magnet Corporate Park, Near Sola Bridge S.G. Highway, Ahmedabad 380054
Phone +917949031500

Registrar Details

Name Link Intime India Private Ltd
Phone +91-22-4918 6270

IPO Reservation

QIB Shares Offered Not more than 50% of the Net Issue
Retail Shares Offered Not less than 35% of the Net Issue
NII (HNI) Shares Offered Not less than 15% of the Net Issue

Shareholding Pattern

Share Holding Pre Issue (Promoters) 67.94%
Share Holding Post Issue (Promoters) 50.07%

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