IRM Energy Limited — Others, 04-08-2025: Monitoring Agency Report

IRM Energy has received its IPO proceeds utilization report for the quarter ended June 30, 2025, from CRISIL Ratings. The report confirms no deviations in how the company is using the funds compared to its original IPO plan. Out of total net IPO proceeds of Rs 495.76 Cr, the company has utilized Rs 243.06 Cr so far. This includes fully repaying Rs 135.00 Cr of borrowings. For City Gas Distribution network expansion, Rs 55.03 Cr has been spent, with Rs 252.23 Cr remaining for this purpose. The remaining Rs 252.70 Cr of unutilized IPO funds are currently held in fixed deposits and a current account.