IRM Energy Limited IPO: Powering the Future
- aditya hujband
- Oct 16, 2023
- 2 min read
Updated: Nov 13, 2023
Basic information about the company: IRM Energy Limited, established in 2015, is a leading gas distribution company that plays a pivotal role in developing, operating, and expanding local natural gas distribution networks. It's a value-driven energy enterprise that caters to a diverse clientele, including industrial, commercial, domestic, and automobile customers. IRM Energy has established its presence in key regions, including Banaskantha District in Gujarat, Fatehgarh Sahib in Punjab, and Diu & Gir-Somnath in the Union Territory of Daman & Diu and the state of Gujarat.
With a commitment to fulfilling energy needs, the company currently serves 48,172 domestic clients, 179 industrial units, and 248 commercial clients. As of September 2022, IRM Energy boasts a network of 216 CNG gas stations strategically positioned across its operating areas. These stations play a crucial role in ensuring the efficient distribution of natural gas.
Objectives of the IPO:
1. Expansion Plans: The company plans to fund capital expenditure requirements for the development of the City Gas Distribution network in the Geographical Areas of Namakkal and Tiruchirappalli (Tamil Nadu) over Fiscal 2024, Fiscal 2025, and Fiscal 2026.
2. Debt Management: A portion of outstanding borrowings availed by the company will be prepaid or repaid, contributing to a more robust financial position.
3. Versatile Usage: Net proceeds will also be allocated for general corporate purposes.
IRM Energy Limited IPO: Key IPO Details
Dates: 18 to 20 Oct 2023
Price Band: ₹480 to ₹505
Lot Size: 29 Shares
Issue Size: 545.40 Crs
Retail Quota: 35%
Date of Allotment: 27th Oct 2023
Listing Date: 31st Oct 2023
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Frequently Asked Questions (FAQs)
1. When can I subscribe to the IRM Energy IPO? A: The IPO subscription window is open from 18th to 20th October 2023.
2. What is the pricing range for the IRM Energy IPO?
A: The price band for this IPO ranges from ₹480 to ₹505.
3. What is the total issue size of the IPO?
A: The issue size of the IRM Energy IPO is ₹545.40 Crores.
4. When will the allotment take place, and when can I expect the shares to be listed?
A: The date of allotment is 27th October 2023, and the shares will be listed on 31st October 2023. DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor before making any actual investment decisions, based on the information published here. Any reader taking decisions based on any information published here does so entirely at their own risk. Investors should bear in mind that any investment in the stock market is subject to unpredictable market-related risks. The author has no plans to invest in this offer and also the author does not recommend investing in any offer published on this website.
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