₹ 14645 / 29 shares
IPO Details
Issue Date
--
Min Investments
₹ 14645
Issue Price
505
Lot Size
29
IPO Size
₹ 545.40 Cr
IPO Listing Details
Listing On
26 Oct'23
Issue Price
505
Listed Price
₹ 477.25
Retail Gain/Listing Gain
▼-5.50%
IPO Timeline
Company Background
IRM Energy Limited is a city gas distribution (CGD) company in India, engaged in laying, building, operating and expanding the city or local natural gas distribution network. The company develops natural gas distribution projects in the geographical areas allotted to it for industrial, commercial, domestic and automobile customers.
Within Compressed Natural Gas (CNG), their customer base encompasses operators of public transport vehicles like taxis and auto-rickshaws, as well as individuals with private vehicles, including cars, buses, light goods vehicles, and heavy goods vehicles.
As for Piped Natural Gas (PNG), their clientele is systematically categorised into three segments. These include industrial PNG, catering to small, medium, and large-sized enterprises; commercial PNG, serving establishments like hotels, restaurants, bakeries, hostels, and community halls; and domestic PNG, predominantly used for cooking gas.
For Fiscals 2021, 2022 and 2023, the company’s EBITDA was Rs. 729.72, Rs. 2,008.98 and Rs. 1,189.38 respectively (in Rs. million). Of this, the EBITDA margin was 38.49%, 39.61% and 12.14% for the same years respectively.
With that, let's take a look at the competitive strengths and risk factors for IRM Energy Limited:
Risk Factors
- The company is dependent on third parties for sourcing and transportation of natural gas. Any disruption or delay could adversely affect business operations and cash flows.
- Transporting natural gas is hazardous and could result in accidents, which could adversely affect the company’s reputation, business, financial condition, results of operations and cash flows.
- The company has issued Equity Shares during the preceding year at a price that may be below the issue price.
Key Strategies
- Expand the company’s presence in existing and newer geographical areas through an improved captive distribution channel.
- Technology adoption to increase operational efficiency and enhance customer value.
- Business integration to transition into a complete energy solution provider.
Key Financials
Here are the key financials for IRM Energy Limited:
Particulars (in Rs. million)
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IRM Energy Limited FAQs
What is the IRM Energy Limited IPO?
The IRM Energy Limited IPO has an issue size of Rs. 544.36 crores. The IPO opens for subscription on 18th October and closes on 20th October 2023.
Who is the Registrar for IRM Energy Limited IPO?
Link Intime India Private Limited is the registrar for this IPO.
Where can I read more about IRM Energy Limited’s business?
You may read more about IRM Energy Limited and its IPO from the company’s red herring prospectus (RHP) here:
