IPO Open Date : October 18 IPO Close Date : October 20
Price Band ₹480 to ₹505 Face Value of ₹10 per share Lot Size- 29 Shares Issue Size- ₹545 CR
IRM Energy Ltd. is an Indian city gas distribution (CGD) company They build and operate natural gas distribution networks for various customers, including industrial, commercial, domestic, and automobile users.
– Funding CAPEX requirements for development of the City Gas Distribution network. – Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company. – General corporate purposes
– The company is dependent on third parties for sourcing and transportation of natural gas. – IRM Energy relies on government policies for natural gas allocation and pricing, with CNG and domestic PNG customers being their primary revenue source.
That’s the rating by our team of analysts.