IRM Energy IPO Date, Review, Price, Allotment, Analysis

IRM Energy IPO Details: IRM Energy IPO date is fixed, the IPO is to hit the market on October 18 and will close on October 20. IRM Energy IPO to raise around ₹545 crores via IPO that comprises fresh issue of 10,100,000 equity shares ₹10 each. The retail quota is 35%, QIB is 50%, and HNI is 15%.

IRM Energy IPO

Table of Contents

IRM Energy is 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), engaged in the business of laying, building, operating and expanding the city or local natural gas distribution network. They are an integrated value-driven energy enterprise, developing natural gas distribution projects in the geographical areas (GAs) allotted to us for industrial, commercial, domestic, and automobile customers, and they have built their competency as a CGD company by developing their existing GAs since 2017. They focus on meeting the energy needs of customers in their GAs through their pipelines and CNG station network at a competitive price while maintaining high safety standards.


They have positioned themselves as the provider of one of the safest, cleanest, and most cost-effective fuels for households, commercial establishments, and industrial units as well as for fuel requirements in the transport segment. They distribute CNG for use in motor vehicles and PNG for use by domestic households as well as for commercial and industrial units. They were recognized as the ‘City Gas Distribution – Growing Company of the Year 2020’ by the Federation of Indian Petroleum Industries (FIPI). Due to their competitive gas price and optimized operational expenditure, they can offer gas to their PNG industrial customers at a viable price in the market and enable the PNG industrial customers to switch from other alternate fuels (coal and furnace oils) to natural gas. Compared with competitive fuels, they provide a more reliable and environment-friendly alternative fuel to all their customer segments and hence have been able to tap potential customer segments in the respective GAs. Further, they are committed to health and safety and have established safety management systems that ensure safe, reliable, and uninterrupted distribution of natural gas to their customers, with a focus on systemic minimization of health and safety risks.

IRM Energy commenced its operations in July 2017, under 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 (PNGRB) in July 2016.


Objects of the Issue

  • 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 our Company
  • General corporate purposes

IRM Energy IPO Review (Apply or Not)

  • Apply

Brokerage Firm IPO Review

  • Capital Market: To be updated soon
  • Religare Broking: To be updated soon
  • Hem Securities: To be updated soon
  • Arihant Capital: To be updated soon

IRM Energy IPO Date & Price Band Details

IPO Open:October 18, 2023
IPO Close:October 20, 2023
IPO Size:Approx ₹545 Crores
Fresh Issue:Approx 10,100,000 Equity Shares
Face Value:₹10 Per Equity Share
IPO Price Band:₹480 to ₹505 Per Share
IPO Listing on:BSE & NSE
Retail Quota:35%
QIB Quota:50%
 NII Quota:15%
DRHP Draft Prospectus:Click Here
RHP Draft Prospectus:Click Here
Anchor Investors List:Click Here

IRM Energy IPO Market Lot

The IRM Energy IPO minimum market lot is 29 shares with ₹14,645 application amount. The retail investors can apply up-to 13 lots with 377 shares or ₹190,385 amount.

ApplicationLot SizeSharesAmount
Retail Minimum129₹14,645
Retail Maximum13377₹190,385
S-HNI Minimum14406₹205,030
B-HNI Minimum692001₹1,010,505

IRM Energy IPO Allotment & Listing Dates

The IRM Energy IPO date is October 18 and the close date is October 20. The IRM Energy IPO allotment will be finalized on October 24 and the IPO listing on October 26.

Anchor Investors Allotment:October 17, 2023
IPO Open Date:October 18, 2023
IPO Close Date:October 20, 2023
Basis of Allotment:October 24, 2023
Refunds:October 25, 2023
Credit to Demat Account:October 25, 2023
IPO Listing Date:October 26, 2023

You can check IPO subscription status and IPO allotment status on their respective pages.

IRM Energy IPO Form

How to apply for the IRM Energy IPO? You can apply for IRM Energy IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the IRM Energy IPO in the Invest section. The other option is you can apply for IRM Energy IPO via IPO forms downloaded via NSE and BSE. Check out the IRM Energy forms – Click BSE Forms & NSE Forms blank IPO forms download, fill, and submit in your bank or with your broker.


IRM Energy Company Financial Report

  ₹ in Crores
YearRevenueExpensePAT
2021₹212.54₹166.46₹34.89
2022₹549.19₹396.83₹128.02
2023₹1045.10₹970.70₹63.15

IRM Energy IPO Valuation – FY2023

Check IRM Energy IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.

Earning Per Share (EPS):₹20.93 per Equity Share
Price/Earning P/E Ratio:N/A
Return on Net Worth (RoNW):18.23%
Net Asset Value (NAV):₹114.48 per Equity Share

Peer Group

  • Gujarat Gas Limited
  • Indraprastha Gas Limited
  • Mahanagar Gas Limited
  • Adani Total Gas Limited

Company Promoters

  • Dr. Rajiv Indravadan Modi
  • Cadila Pharmaceuticals Limited
  • IRM Trust

IRM Energy IPO Registrar

Link Intime India Private Ltd
Phone: +91 22 4918 6200
Email: [email protected]
Website: https://linkintime.co.in/

IRM Energy IPO Allotment Status Check

Check IRM Energy IPO allotment status on Linkintime website allotment URL. Click Here

IRM Energy IPO Lead Managers aka Merchant Bankers

  • HDFC Bank Limited
  • BOB Capital Markets Limited

Company Address

IRM Energy Limited
4th Floor, Block 8,
Magnet Corporate Park,
Near Sola Bridge, S.G. Highway Ahmedabad,
Gujarat – 380054
Phone: +91 79490 31500
E-mail: [email protected]
Website: www.irmenergy.com

IRM Energy IPO FAQs

What is IRM Energy IPO?

IRM Energy IPO is a main-board IPO. They are going to raise ₹545 Crores via IPO. The issue is priced at ₹480 to ₹505 pr equity share. The IPO is to be listed on BSE & NSE.

When IRM Energy IPO will open?

The IPO is to open on October 18, 2023 for QIB, NII, and Retail Investors.

What is IRM Energy IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.

How to Apply the IRM Energy IPO?

You can apply for IRM Energy IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.

How to Apply the IRM Energy IPO through Zerodha?

Log in to Console in Zerodha Website or in Application. Go to Portfolio and Click on IPO. You will see the IPO Name “IRM Energy”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Zerodha.

How to Apply the IRM Energy IPO through Upstox?

Log in to the Upstox Application with your credentials. Select the IPO. You will see the IPO Name “IRM Energy”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox.

How to Apply the IRM Energy IPO through Paytm Money?

Log in to Paytm Money Application with your credentials. Select the IPO. You will see the IPO Name “IRM Energy”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Paytm Money.

What is IRM Energy IPO Size?

IRM Energy IPO size is ₹545 crores.

What is IRM Energy IPO Price Band?

IRM Energy IPO Price Band is ₹480 to ₹505.

What is the IRM Energy IPO Allotment Date?

IRM Energy IPO allotment date is October 24, 2023.

What is the IRM Energy IPO Listing Date?

IRM Energy IPO listing date is October 26, 2023. The IPO is to list on BSE and NSE.

Note: The IRM Energy IPO price band and date are officially announced. The IPO grey market premium (IRM Energy IPO Premium) will be added to the IPO grey market page as it will start).

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