Explore the promising investment opportunity of IRM Energy IPO, a substantial book-built issue valued at Rs 545.40 crores, featuring an entirely fresh offering of 1.08 crore shares. Mark your calendars for the subscription window, opening on October 18, 2023, and concluding on October 20, 2023. The highly anticipated allotment results are set to be announced on Friday, October 27, 2023, paving the way for an exciting listing on both BSE and NSE with a tentative date fixed as Tuesday, October 31, 2023.
In this enticing venture, the price band for IRM Energy IPO ranges from ₹480 to ₹505 per share, making it accessible to a wide range of investors. Retail investors can participate with a minimum investment of ₹14,645, involving a lot size of 29 shares. Super Non-Institutional Investors (sNII) can opt for 406 shares (14 lots) at ₹205,030, while Big Non-Institutional Investors (bNII) can invest in 2,001 shares (69 lots) amounting to ₹1,010,505, ensuring flexibility and inclusivity.
Rest assured, this IPO is in the capable hands of reputed entities; Hdfc Bank Limited and Bob Capital Markets Limited serve as the book running lead managers, ensuring a smooth and trustworthy process. Additionally, Link Intime India Private Ltd takes on the role of the dedicated registrar for the IRM Energy IPO. Stay tuned for a lucrative investment opportunity that could shape your financial future.
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.
The company has marked its presence in Banaskantha District in the state of Gujarat, Fatehgarh Sahib in the state of Punjab, and Diu & Gir-Somnath in the Union Territory of Daman & Diu and the state of Gujarat. The company is fulfilling the natural gas requirements of 48172 domestic clients, 179 industrial units, and 248 commercial clients. The company has received an award of City Gas Distribution- Growing Company of the Year 2020 from the Federation of Indian Petroleum Industries. As of September 2022, the company has 216 CNG gas stations across its operating geographical areas.
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
| IPO Opening Date | Oct 18, 2023 |
|---|---|
| IPO Closing Date | Oct 20, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per share |
| IPO Price | ₹480 to ₹505 per share |
| Market Lot | 29 Shares |
| Min Order Quantity | 29 Shares |
| Listing At | BSE, NSE |
| Issue Size | 10,800,000 shares (aggregating up to ₹545.40 Cr) |
| Fresh Issue | 10,800,000 shares (aggregating up to ₹545.40 Cr) |
| Share holding pre issue | 30,259,677 |
| Share holding post issue | 41,059,677 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| Basis of Allotment Date | October 27, 2023 |
|---|---|
| Initiation of Refunds | October 27, 2023 |
| Credit of Shares to Demat Account | October 30, 2023 |
| IPO Listing Date | October 31, 2023 |
Investors can bid for a minimum of 29 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 |
IRM Energy IPO is a main-board IPO of 10,800,000 equity shares of the face value of ₹10 aggregating up to ₹545.40 Crores. The issue is priced at ₹480 to ₹505 per share. The minimum order quantity is 29 Shares.
The IPO opens on October 18, 2023, and closes on October 20, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The IRM Energy IPO opens on October 18, 2023 and closes on October 20, 2023.
IRM Energy IPO lot size is 29 Shares, and the minimum amount required is ₹14,645.
You can apply in IRM Energy IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services.
The finalization of Basis of Allotment for IRM Energy IPO will be done on Friday, October 27, 2023, and the allotted shares will be credited to your demat account by Monday, October 30, 2023.
Check the IPO allotment status.
The IRM Energy IPO listing date is October 31, 2023.
To Bid online, you need
Demat Account and Pan card.
Login to SMC account and
select the IRM Energy IPO
Enter UPI Id & Mobile number
Place your number of bids
with the exchange
A UPI mandate is sent to your
UPI App to block your funds.
