IRM Energy

** IRM Energy IRME.NS soars as much as 14% to hit one-month high of 303.05 rupees; last up ~10%

** Co secures 5-year contract from Shell Energy India to secure Re-gasified Liquefied Natural Gas (RLNG) for industrial and commercial customers

** Stock sees busiest session since September 10, 2024, with ~1.1 mln shares traded

** IRME trading 40% below its IPO price of 505 rupees

** YTD, stock down 12.3%

(Reporting by Vivek Kumar M)

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Jan 10 (Reuters) - Irm Energy Ltd IRME.NS:

• DOMESTIC GAS ALLOCATIONS TO CO HAVE BEEN REVISED UPWARDS BY 29% WITH EFFECT FROM JAN 16

Source text: ID:nNSE9kSM7R

Further company coverage: IRME.NS

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** Shares of IRM Energy IRME.NS fall as much as 6.5% to a record low of 404 rupees

** City gas distribution co reports a 30.5% drop in Q1 consol net profit, says rev remained largely flat

** Stock down for a fourth session, shedding about 9% during the period

** More than 200,000 shares change hands, 2x their 30-day avg

** IRME down 14% since listing in October 2023

(Reporting by Nishit Navin)

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Aug 14 (Reuters) - IRM Energy Ltd IRME.NS:

• JUNE-QUARTER CONSOL NET PROFIT 187 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 2.44 BILLION RUPEES

Further company coverage: IRME.NS

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July 9 (Reuters) - Irm Energy Ltd IRME.NS:

• CEO KARAN KAUSHAL RESIGNS

Source text for Eikon: ID:nBSEbLTXh5

Further company coverage: IRME.NS

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May 21 (Reuters) - Irm Energy Ltd IRME.NS:

• IRM ENERGY LTD - DIVIDEND 1.5 RUPEES PER SHARE

Source text for Eikon: ID:nBSE8Y89bn

Further company coverage: IRME.NS

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Feb 9 (Reuters) - Irm Energy Ltd IRME.NS:

• IRM ENERGY DEC-QUARTER CONSOL NET PROFIT 237.8 MILLION RUPEES VERSUS 198.6 MILLION RUPEES

• IRM ENERGY DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 2.43 BILLION RUPEES VERSUS 2.77 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: IRME.NS

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Jan 24 (Reuters) - Irm Energy Ltd IRME.NS:

• IRM ENERGY LTD - COMMERCIAL OPERATIONS AT LCNG STATION AT NAMAKKAL DISTRICT COMMENCED FROM JAN 24

Source text for Eikon: ID:nBSE6700DN

Further company coverage: IRME.NS

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Jan 8 (Reuters) - Irm Energy Ltd IRME.NS:

• CO ENTERED INTO MEMORANDUM OF UNDERSTANDING WITH TAMILNADU INDUSTRIAL DEVELOPMENT CORPORATION

• INVESTMENT OF 8.58 BILLION RUPEES IN NEXT 5 YEARS IN PROPOSED PROJECT

Further company coverage: IRME.NS

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Nov 9 (Reuters) - Irm Energy Ltd IRME.NS:

• INDIA'S IRM ENERGY LTD SEPT-QUARTER CONSOL PROFIT 260.2 MILLION RUPEES VERSUS 187 MILLION RUPEES

• IRM ENERGY LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 2.37 BILLION RUPEES VERSUS 2.74 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: IRME.NS

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Adds details on IPO in paragraphs 4 and 6, analyst comment in paragraph 5

By Rama Venkat

BENGALURU, Oct 26 (Reuters) - Shares of IRM Energy IRME.NS fell as much as 10.9% in trading debut on Thursday, valuing the Indian natural gas distributor at 18.48 billion rupees ($222.03 million) in a weak market.

The stock fell to a low of 450 rupees in early trade after opening at 477.25 rupees. Its initial public offer (IPO) price was at 505 rupees.

The benchmark Nifty 50 .NSEI was down 1.3%, while the more domestically-focused mid-cap .NIFMDCP100 and small-cap .NIFSMCP100 stocks declined more than 2% each. .BO

Investors bid for about 206.3 million IRM Energy shares by the final day of subscription, 27.05 times more than the 7.6 million shares on offer, exchange data showed.

"The IPO was well-received by investors and oversubscribed. However, the current market condition could be a reason behind a poor listing," said Shivani Nyati, head of wealth at Swastika Investmart.

The company, with a diversified customer portfolio and distribution network, is well-positioned to benefit from the growing demand for natural gas in India, Nyati added.

The IPO of IRM Energy, a group company of Cadila Pharmaceuticals, comprised of fresh issue of 10.8 million shares worth 5.44 billion rupees, according to the prospectus.

The company plans to use about 3 billion rupees of proceeds from the IPO to fund the development of the gas distribution network in Namakkal and Tiruchirappalli in the southern state of Tamil Nadu.

The Ahmedabad-based company builds, operates and expands the gas distribution network for industrial, domestic and automobile customers.

HDFC Bank and BOB Capital Markets were book-running lead managers for the IPO.

So far this year, 173 Indian companies have gone public, raising $4.46 billion, compared with 115 companies that raised $6.06 billion in the same period last year, according to LSEG data.

($1 = 83.2325 Indian rupees)

(Reporting by Rama Venkat in Bengaluru;Editing by Nivedita Bhattacharjee and Eileen Soreng)

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