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Can city gas distribution firms thrive in an increasingly electric future? IRM Energy is positive.

Courtesy of IRM Energy

Synopsis
City gas distribution firms like Indraprastha Gas and Mahanagar Gas haven’t had a pleasant run of late in the markets. Their primary revenue churner CNG is becoming an expensive choice for the customer besides electric vehicles are rolling in faster. What does IRM Energy has up its sleeve as it prepares to list?

Retired IAS officer Maheshwar Sahu, known as the man behind the success of PM Narendra Modi’s showpiece event ‘Vibrant Gujarat' summit, is now navigating a successful corporate ship. His brainchild IRM Energy Limited — a city gas distribution (CGD) company has a turnover of INR1,000 crore and it is all set to hit Dalal Street. Sahu initiated the discussion towards diversifying into energy markets with Rajiv Modi — the chairman and managing