IRM Energy shines on inking RLNG purchase agreement with Shell Energy India
IRM Energy is currently trading at Rs. 281.15, up by 15.30 points or 5.76% from its previous closing of Rs. 265.85 on the BSE.
The scrip opened at Rs. 265.85 and has touched a high and low of Rs. 303.00 and Rs. 265.85 respectively. So far 109103 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 635.00 on 22-Apr-2024 and a 52 week low of Rs. 235.90 on 17-Mar-2025.
Last one week high and low of the scrip stood at Rs. 303.00 and Rs. 259.90 respectively. The current market cap of the company is Rs. 1166.09 crore.
The promoters holding in the company stood at 50.07%, while Institutions and Non-Institutions held 8.62% and 41.31% respectively.
IRM Energy has successfully executed a long-term Regasified Liquefied Natural Gas (RLNG) purchase agreement with Shell Energy India for a period of five years. The total quantity to be purchased under the Agreement will be 1,23,21,200 MMBtu equivalent to approximate 326.84 mmscm at 9500 k/cal Gross Calorific Value (GCV). By leveraging Shell’s global expertise in LNG, the company aims to enhance its service capabilities, helping businesses transition towards greener energy alternatives and reducing their carbon footprint.
This Agreement will enable IRM Energy to secure a stable and affordable gas supply for its Industrial and Commercial (I&C) customers, thereby strengthening its commitment to ensuring reliability and efficiency in gas business. The Agreement is expected to further enhance sourcing portfolio of the company strategically and thereby creating long-term value to company’s stakeholders.
IRM Energy is a gas distribution company. It is involved in developing, operating, and expanding of local natural gas distribution network. IRM Energy is a value-driven energy enterprise serving industrial, commercial, domestic, and automobile customers.
