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Inox India to raise up to Rs 1459.32 crore through an initial public offering. The subscription for the IPO will be open from December 14 to December 18, 2023. The price band is set at Rs 627 – Rs 660 per share.
The IPO consists offer for sale of equity shares worth entire Rs 1459.32 crore. The face value is fixed at Rs 2 per share and the minimum lot size for an application is 22 shares.
Company Summary
Inox India Limited is manufactures and supplies cryogenic equipment, for Industrial Gas, LNG, Cryo Scientific.
- Industrial Gas: The division designs, manufactures and installs cryogenic tanks and systems for the storage, transportation and distribution of industrial gases, including green hydrogen and oxygen.
- LNG: The division develops, manufactures, supplies and installs both standard and engineered equipment for LNG storage, distribution, and transportation, as well as small-scale LNG infrastructure solutions for industrial, marine and automotive applications.
- Cryo Scientific: This division offers equipment and turnkey solutions for scientific and industrial research in the field of cryogenic distribution with a focus on technology-intensive applications.
The product portfolio includes standard cryogenic tanks and equipment, beverage kegs, bespoke technology, equipment, and solutions as well as large-scale turnkey projects used in various industries such as industrial gases, liquefied natural gas (“LNG”), green hydrogen, energy, steel, medical and healthcare, chemicals and fertilisers, aviation and aerospace, pharmaceuticals and construction.
Company Strengths
- IIL is a niche player in cryogenic equipment and the only player from India.
- It worked with ISRO for Chandrayan-3 project with major supply.
- The company has been consistently reporting growth in its financial performances.
- This is a not to miss opportunity in a Numero Uno player in critical segment.
Company Financial
Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
Assets | 1,155.81 | 1,148.36 | 896.75 | 687.20 |
Revenue | 580.00 | 984.20 | 803.71 | 608.99 |
Profit After Tax | 103.34 | 152.71 | 130.50 | 96.11 |
Net Worth | 554.24 | 549.48 | 502.28 | 371.51 |
Total Borrowing | 31.03 |
| 43.38 | 60.37 |
Purpose of the IPO
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Carry out the Offer for Sale of up to 22,110,955 Equity Shares by the Selling Shareholders; and
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges. Further, the Company expects that the proposed listing of its Equity Shares will enhance the visibility and brand image as well as provide a public market for the Equity Shares in India. The Selling Shareholders will be entitled to the entire Offer proceeds after deducting the Offer expenses and relevant taxes.
Company Promoters
The Promoters of the company are Pavan Kumar Jain, Nayantara Jain, Siddharth Jain and Ishita Jain
IPO Details
IPO Date | December 14, 2023 to December 18, 2023 |
Face Value | ₹2 per share |
Price Band | ₹627 to ₹660 per share |
Lot Size | 22 Shares |
Total Issue Size | 22,110,955 shares (aggregating up to ₹1,459.32 Cr) |
Offer for Sale | 22,110,955 shares of ₹2 (aggregating up to ₹1,459.32 Cr) |
Issue Type | Book Built Issue IPO |
Listing At | BSE, NSE |
IPO Lot Size
Application | Lots | Shares | Amount |
Retail (Minimum) | 1 | 22 | ₹14,520 |
Retail (Maximum) | 13 | 286 | ₹188,760 |
Small HNI (Minimum) | 14 | 308 | ₹203,280 |
Small HNI (Maximum) | 68 | 1,496 | ₹987,360 |
Large HNI (Minimum) | 69 | 1,518 | ₹1,001,880 |
Allotment Details
Event | Date |
Allotment of Shares | December 19, 2023 |
Initiation of Refunds | December 20, 2023 |
credit of Shares to Demat Account | December 20, 2023 |
Listing Date | December 21, 2023 |
To check allotment, click here