IRM Energy Limited IPO Message Board (Page 18)

What is expected QIB subscription ?

Likely to be below 25 times.

Chalo Mandates cancel krte hai😅

Instead of applying for IRM,bought few IGL at 411...

Should it not have been Mahanagar Gas as a better option? Any suggestion?

MGL better ..but already have in portfolio...got IGL first time...only for Intra day or ST...

NO VIEW.
Couldn't study it due to some other commitment.
I will apply in retail quota if QIB > 100 times else i will let it go.
There will be volatility in natural gas prices in global market due to ongoing geopolitical tension so i am not a long term participant into it.
We all have limited fund and a lot of other opportunities available then why to stuck in something and bear opportunity cost when we know there is issue in this sector.
It's my personal opinion and i could be wrong as well.

Thanks.

Thankyou @Jetha Lal Ji

even the recent news flow is against the companies in this area as well, so i doubt QIB will hit that mark Sir. Thanks for your presenting your view. @Jetha Lal

Aaj GMP 70+ hai kya IRM kaa?

with today's blood bath for Gas companies, I expect the GMP to fall further and some withdrawal of applications as well. It might list at par or minimal premium. At current valuations Mahanagar Gas and Indraprastha Gas look good (but definitely risks are there due to global uncertainties though I don't expect more than 10% downside from here in a bad scenario)

I have made two BHNI applications and I am retaining them. (BHNI for the first time).

GMP 45

avoid completely
due to EV DECISION IN DELHI
this sector has nothing now
not good for listing gain
good for long term

​@newgen consultancy  Is IPO me Paisa lagan chie ??sirf listing gain ke liye ??
1000 mile to bhi chalega. I have 22 diff account.

Cgd business is location specific. Igl and mgl may have issue but irm don't have it However there is always terminal value risk in cgd business

​@newgen consultancy ji, thank you for validating my understanding.
In fact, I have added MGL today.

PS: This is not a recommendation.

​@Admin @ Chittorgarh.com 
Subscription figures right now are lower than yesterday's close figures across the board. Please check.

I guess, these are figures of only one of the two exchanges.

Yes, also observed same

​@Crow  se Pigeon Jane chakkar me pura crow hi gayab hogaya.
Searching for Crow 🐦‍⬛ &
Missing Crows verdict 🙏🙏
Crow's last recommendation:plaza wires
Crow's verdict on IRM : Not updated 😂
Keep CROWING 🤘

​@Admin @ Chittorgarh.com Please check subscription figures

Dear members, should I go here with 1 big hni or 1 shni and few retail? Ready to take 5-10% risk.

Go with BHNI

now onwards sbi lite app not allowed third party application

since when

​@poweripo 

18 october 2023 onwards

​@MAMU 

Pl share current GMP and subject 2 rate in HNI category so that we will be able to take decision whether to apply or to skip this ipo?

On the topic
No extraordinary profit but at the same time no fear of discount listing.
No other good competitor in SME so I am parking all available funds here. If alloted near about 10 % gain in few days is not bad. Always there is little bit risk and we have to face it.

Which SME IPO ? Is it Rajgor?

Can I buy today TCS shares for buy back participation ?

Experts Pls help

Buddy 19th was record date for dividend and not for buyback, you can certainly buy today

Friends, as its registrar is linkintime, so can we expect the allotment by Monday evening as linkintime is following T+3 criteria in almost all IPOs?

Apologies from My Part
I have read all the messages

Those were for members asking or replying don't know , But if they were for me then Apologies for that .
I will take care next time
No Off topic things will be posted on an IPO page whose subscription is open

And Off topic discussions will be done ( If essentially required ) on IPO which are not active IPO page.

No need to knock the doors of Admin we would resolve this by ourselves

​@Rajcool 
We have already added a "Stock Price" tab for listed IPOs. This page can be used to continue the discussion after the IPO Message Board is closed.

Dear newgen,
Your suggestions help many new investors.
Otherwise they loss in the market.
company

Guys, this is an IPO forum, please stop asking questions about the shares in general. One or two questions before IPO starts is fine but middle of an IPO this page is full of other stock questions, which is not done.
I'm reporting each such question as spam.
Please take note of this and take action. @Admin @ Chittorgarh.com

​@MVP Instead of saying to admin to take action, you should give some suggestions for this to admin. तुम तो सीधा बन्दुक लेके खडे हो गे.

Dear members,
Off-topic or trading tips are strictly prohibited on the IPO pages. We try our best to clean them up. Most of the time we block the members who post such messages.

Company is in business of city gas distribution in 5 districts, operating CNG stations, supplying PNG to industrial and commercial customers. It also has stake in 4 JV’s dealing in bio gas, cylinder manufacturing and trading, micro irrigation pipes and tubes, renewable energy trading.
Not so impressive anchor book, consisting mostly of insurance companies and mutual funds
FY23 sales 90% higher than FY22, this could be because domestic gas prices averaged $7.335/mmBtu in fiscal 2023, compared with $2.35/mmBtu in fiscal 2022.
In 22-23, volume grew by 30% compared to 21-22. In Q1FY24, volume reduced by 2.66% compared to Q1FY23.
Material cost which was 52.5% in 21-22 jumped to 81% in 22-23. This could be as gas price are set by government & to protect consumers, government may not allow companies to pass full price hike to consumers. Thus like OMC, CGD companies are also impacted by government policies. This can be seen as in 22-23, turnover has doubled but PBT has dropped to 50% of previous year.
In 21-22, CNG contributed 52% of gas sales and PNG 48%. In 22-23, CNG was 43% of sales and PNG was 57% of sales. Price increases could be one of the reason for the skewness.
Decent cash flows from operations, partly due to product and business uniqueness. Company cannot keep inventory of gas and customers generally pay on month to month basis.
IPO proceeds will be used for expansion in Namakkal and Tiruchirapalli and repaying of existing debt
Borrowing cost ranges from ranges from 7.60% per annum to 9.55% per annum.
Company’s mutual fund investment is in schemes like Flexi cap fund, business cycle fund, large & mid cap fund, hybrid equity fund, multi asset fund etc. Generally companies park their excess fund in liquid fund or money market fund which are safest and most liquid.
Other expenses have gone up 20% YoY (22-23 against 21-22) against CNG volume was up by 15.38% while PNG volume was up by 43.58%
Company had 170 employees as on 30-Jun-23 (including permanent and contractual). Company deposited PF for 197 employees for Sep-23 and 166 employees for Sep-22.