Inox India Limited is a prominent manufacturer of cryogenic equipment. The company provides end-to-end solutions for equipment and systems operating in cryogenic conditions, including design, engineering, manufacturing, and installation.
Company’s business is comprised of three divisions:Industrial Gas, LNG and Cryo Scientific.
Company’s offering includes standard cryogenic tanks and equipment, beverage kegs, bespoke technology, equipment and solutions as well as large turnkey projects which are used in diverse industries.
In addition, they also manufacture a range of cryogenic equipment utilised in global scientific research projects. They were the largest exporter of cryogenic tanks from India in terms of revenue in Fiscal 2022.
They produced and shipped a 238 kl liquid hydrogen storage tank for a liquid hydrogen plant in South Korea.
By September 2023, the company had exported products and delivered services to 66 countries, including the United States, Saudi Arabia, the Netherlands, Brazil, Korea, United Arab Emirates, Australia, and Bangladesh.
The manufacturing facilities are in Kalol, Kandla Special Economic Zone (Kandla SEZ), and Silvassa in the Union Territory of Dādra and Nagar Haveli. As of September 2023, the company’s order book comprises of ₹10,366.09 million.
Inox India IPO – Details
| IPO Opening Date | 14 December 2023 |
| IPO Closing Date | 18 December 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2,21,10,955 Shares Worth ₹1459.32 Crore Offer For Sale: 2,21,10,955 Shares Worth ₹1459.32 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹627 – ₹660 |
| Market Lot | 22 Shares |
| Min Order | 22 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Inox India IPO – Date Schedule
| IPO Open Date | 14 December 2023 |
| IPO Close Date | 18 December 2023 |
| Basis of Allotment Date | 19 December 2023 |
| Initiation of Refund | 20 December 2023 |
| Credit of Shares to Demat Account | 20 December 2023 |
| IPO Listing Date | 21 December 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on 18 December 2023 |
Inox India IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 22 | 14,520 |
| Retail (Max) | 13 | 286 | 1,88,760 |
| S-HNI (Min) | 14 | 308 | 2,03,280 |
| S-HNI (Max) | 68 | 1,496 | 9,87,360 |
| B-HNI (Min) | 69 | 1,518 | 10,01,880 |
Competitive Strengths
- Leading Indian supplier and exporter of cryogenic equipment and equipment;
- Large portfolio of specialized cryogenic equipment engineered to global quality standards;
- Diversified domestic and international customer base across industry sectors;
- Strong product development and engineering focus;
- Healthy financial performance to support growth.
Company Promoters
- Pavan Kumar Jain
- Nayantara Jain
- Siddharth Jain
- Ishita Jain
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 608.99 | 477.92 | 96.10 | 60.36 |
| 31 March 2022 | 803.71 | 629.50 | 130.49 | 43.37 |
| 31 March 2023 | 984.19 | 779.15 | 152.71 | – |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 39.22 |
| Market Cap (₹ Cr.) | 5990.39 |
| ROE | 27.79% |
| ROCE | 36.53% |
| EPS (Rs) | 16.83 |
| RoNW | 27.79% |
Object Of The Issue
- 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.
Inox India IPO Promoter Holding
| Pre Issue Share Holding | 99.30% |
| Post Issue Share Holding | 75.46% |
Inox India IPO Prospectus
Company Contact Information
| Inox India Limited 9 th Floor, K P Platina Racecourse Vadodara – 390 007 Phone: +91 265 6160100 Email: secretarial.in@inoxcva.com Website: https://inoxcva.com/ |
Inox India IPO Registrar
| Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: inox.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
Inox India IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. Axis Capital Limited |
Inox India IPO FAQs
| What is Inox India IPO? Inox India IPO is a main-board IPO. The issue is priced at ₹627 to ₹660 per equity share. The IPO is to be listed on BSE & NSE. |
| When Inox India IPO will open? The IPO is to open on 14 December 2023 for QIB, NII, and Retail Investors. |
| What is Inox India IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Inox India IPO? You can apply Inox India IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Inox India IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Inox India”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Inox India IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Inox India“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Inox India IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Inox India”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Inox India IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Inox India”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Inox India IPO Size? Inox India IPO size is ₹1459.32 Crore. |
| What is Inox India IPO Price Band? Inox India IPO Price Band is ₹627 to ₹660. |
| What is Inox India IPO Minimum and Maximum Lot Size? The minimum bid is 22 Shares with ₹14,520 amount while the maximum bid is 286 Shares with ₹1,88,760. |
| What is the Inox India IPO Allotment Date? Inox India IPO allotment date is 19 December 2023. |
| What is the Inox India IPO Listing Date? Inox India IPO listing date is 21 December 2023. The IPO is to list on BSE and NSE. |
