IRM Energy & Lohia Corp get Sebi aproval for IPO
Cadila Pharma- backed IRM Energy and Kanpur- grounded Lohia Corp have entered blessing from Sebi for original public immolation (IPO). IRM Energy’s IPO is a complete fresh issue of over to 10,100,000 equity shares with a face value of Rs 10 per equity share. Meanwhile, Lohia Corp’s public issue is a complete offer- for- trade (OFS) of over to 31,695,000 equity shares by being shareholders with a face value of Re 1 per unit.
IRM Energy is a megacity gas distribution company in India, engaged in the business of laying, erecting, operating and expanding the megacity or original natural gas distribution network. Meanwhile, Kanpur- grounded Lohia Corp is a leading global manufacturer of ministry and outfit used in the product of specialized fabrics, in particular, for manufacturing polypropylene (PP) and high- viscosity polyethylene (HDPE) woven fabric and sacks (Raffia), with a global request share of 17.5% across all Raffia ministry and over 28.7% for machines used in PP/ HDPE fabric timber. It has entered the final observation from the capital request controller, Securities and Exchange Board of India (Sebi), to raise finances through an original public immolation( IPO).
IRM Energy and Lohia Corp had filed primary IPO papers with Sebi on December 14 2022, and September 29, 2022, independently. IRM Energy, in order to subsidize on its synergetic business openings, has entered into a strategic and specialized cooperation with Shizuoka Gas Co. Japan (ShizGas), the fourth largest gas company in the country by natural gas deals volume, by investing capital through a private placement in IRMEL.
On the other hand, to achieve business integration, it invested in Farm Gas Private Limited, Venuka Polymers Private Limited, Ni Hon Cylinders Private Limited. also, it has inked a memorandum of understanding with Mindra EV Private Limited for setting up an electric vehicle charging structure at DODO Stations and COCO Stations for five times, with a vision of transitioning to getting an energy- acquainted company.
Lohia Corp manufactures winders and rewinders for high- performance fibers similar as carbon, glass, and artificial lawn. The packaging of cement, fertiliser, chemicals, polymers, food grains, minerals, shopping bags, leno bags, FIBCs, and vessel liners are just a many exemplifications of the products made utilising its machines that are employed in a variety of sectors. HDFC Bank and BOB Capital requests are the book- running lead directors for IRM Energy.
About IRM Energy Limited
IRM ENERGY LIMITED (a group Company of Cadila Pharmaceuticals Ltd.) is an integrated value driven energy enterprise developing Natural Gas distribution projects across various districts in the country for industrial, commercial, domestic, and automobile customers. The company is committed towards contributing to the energy need of its consumers.
Cadila Pharmaceuticals Limited (CPL) is the flagship company of the Cadila group. CPL is one of the largest privately held pharmaceutical companies in India. It is an integrated health care solutions provider with pharmaceutical product basket comprising of more than 450 brands and 700 SKUs and selling and distribution network of the company is spread over ninety countries around the world. In addition to pharmaceuticals, the Cadila group has business interests in diversified businesses which include manufacturing of pharmaceuticals machineries, manufacturing of herbal health care products, hospitals, travel, and travel related financial services, agro-based projects etc.
IRM Energy Limited (IRMEL) is a leading City Gas Distribution (CGD) company with an experience of more than 6 years in developing robust city gas distribution networks and connecting different customer segments in our existing Geographical Areas (GAs) of Banaskantha District in the state of Gujarat, Fatehgarh Sahib in the state of Punjab and Diu & Gir-Somnath in the Union Territory of Daman & Diu and the state of Gujarat. As of September 30, 2022, our supply network across all GAs consists of over 3,248 inch-kms of pipelines, including approximately 2,665 inch-kms of MDPE pipelines, and 583 inch-kms of steel pipelines.
IRMEL is committed to reach out to every possible natural gas user in its authorized GAs and is committed to maintain highest standards of Safety and top-notch customer service. Safety of customers and staff has always been our utmost priority. Every team member at IRM Energy is committed to provide quality services to its customers. IRM Energy has successfully implemented many technological solutions in short time period which has resulted into one of fastest growing City Gas Distribution organisation in India. Lean and thin organisational structure has helped teams at IRM Energy to achieve efficiency and effectively manage the transformational changes in the sector.
About Lohia Corp Limited
Lohia Corp Limited is the flagship company of the Lohia Group and a global supplier of machinery for end-to-end solutions for plastic woven fabric industry used for packaging systems for solid bulk materials and infrastructure applications. The company was incorporated as Lohia Starlinger Limited in 1981 as a joint venture with Starlinger & Co. GmbH of Austria for manufacturing of Circular Looms. It has changed its name to Lohia Corp Limited in March 2013, consequent to the exit of Starlinger as shareholder.
We since inception set a vision for the company to be an end-to-end supplier of the machinery & solution for the plastic woven industry. Accordingly, after fully absorbing the know-how for the Circular Looms, we expanded our portfolio in 1984 by adding tape extrusion line & winders in our production program. Continuous investments in upgrading the in-house manufacturing capabilities together with state-of-the-art research & development facility and commitment to build world-class knowledge base assisted by qualified technicians, engineers and managers led not only to up-gradation of weaving, extrusion & winding technologies but we also added products like lamination & coating, conversion and PP multifilament extrusion lines. Today, we have full range of machinery in each of the technology vertical to cover almost the complete range of end use application of the plastic woven fabric.
We in Lohia Corp believe that good quality products need equally good pre & post sale technical support services including prompt supply of spare parts for the customer to realize the benefits of the technology over the complete life cycle of the machinery. We have invested in systems and capabilities of our human resource assets to service our worldwide customers on time and efficiently. We have our offices in strategically important markets equipped with sales & servicing support including spare part warehouses and are networked through capable & committed sales agents to remain close to our customers.
We have delivered till date accumulated plastic processing capacity of 5.67 million metric ton/annum of PP & PF with installation base of more than 1,650 extrusion lines & 69,400 Circular Looms in over 90+ countries producing almost full range of plastic woven fabrics & packaging solutions for our worldwide customers. The company is strategically prepared to unlock its immense potential for growth by setting new industry standards.