IRM Energy Limited — Others, 14-05-2025: Monitoring Agency Report

IRM Energy Limited has announced a Monitoring Agency Report by Crisil Ratings on its IPO fund utilization. The company raised about Rs 495.76 Cr, mainly for building its City Gas Distribution network, repaying borrowings, and corporate needs. So far, Rs 235.38 Cr of the Rs 333.79 Cr planned for Fiscal 2025 has been used, delayed due to infrastructure and permission issues. Unspent IPO funds are in fixed deposits earning 7.6-7.8% interest. Borrowing repayments are fully completed. The report confirms the funds are used as disclosed, with no impact on investors.