Inox India (CVA) Limited
Mainboard₹14,520 / 22 Shares
IPO Details
Inox India (CVA) Limited IPO is priced between ₹627-660 per equity share, with a face value of ₹2 per share. The company's equity shares will be listed on the Mainboard, and Kfin Technologies Limited is managing the issue as the registrar.
The IPO bidding period opened on 14 Dec, 2023, and closed on 18 Dec, 2023. The allotment results will be announced on 19 Dec, 2023, with a tentative listing date set for 21 Dec, 2023.
The total issue comprises 22,110,955 shares of ₹2, amounting to ₹1,459.32 Cr.
Inox India (CVA) Limited IPO Highlights
| IPO Date | Listing Date | Face Value | Price Band | Lot Size | Fresh Issue | Offer for Sale | Listing At |
|---|---|---|---|---|---|---|---|
| Dec 14, 2023 - Dec 18, 2023 | 21 Dec, 2023 | ₹2 Per Equity Share | ₹627-660 per equity share | 22 Shares | Shares | - | BSE, NSE |
Inox India (CVA) Limited IPO Timeline
Issue Price
₹627-660 per equity shareFace Value
₹2 Per Equity ShareListing at Group
BSE, NSERegistrar
Kfin Technologies LimitedMarket Lot
Retail: 22 Shares (₹14,520/-)S-HNI: 308 Shares (₹2,03,280/-)
B-HNI: 1,518 Shares (₹10,01,880/-)
Lead Manager
ICICI Securities LimitedAxis Capital LimitedIssue Size
22,110,955 shares of ₹2(aggregating up to ₹1,459.32 Cr)Retail Portion
35% (Number of Retail Applications: 3,51,765 Approx),(Number of S-HNI Applications : 3,589 Approx),(Number of B-HNI Applications : 7,179 Approx)Subscription
61.28 timesInox India (CVA) Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 23 | 1148.36 | 984.20 | 152.71 | - | - | - |
| 31 Mar 22 | 896.75 | 803.71 | 130.50 | - | - | - |
| 31 Mar 21 | 687.20 | 608.99 | 96.11 | - | - | - |
All values are in ₹ Cr.
About Company
Inox India Limited is a supplier of cryogenic equipment. The company provides end-to-end solutions for equipment and systems operating in cryogenic conditions, including design, engineering, manufacturing, and installation. The company provides a wide range of products and services, including cryogenic tanks and equipment, beverage kegs, customized technology, equipment and solutions, as well as comprehensive turnkey projects. These products and services cater to a variety of industries such as industrial gases, liquefied natural gas (LNG), green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals and construction.
The customer base of the company includes;Air Liquide Global E&C Solutions India Private Limited, All Safe Global, Baif Development Research Foundation, CRYONiQ s.r.o., Gulf Cryo LLC, Hyundai Engineering and Construction Co Ltd, INOX Air Product Pvt Ltd, Carbacid (CO2) Limited, Navin Flourine International Ltd, National Refrigerants Inc, Pentrade Global LLC, Prodair Air Products India Pvt Ltd, SK ecoengineering Co. Ltd, StemCyte India Therapeutics Pvt Ltd, Synergy Gases ( K ) Ltd in Industrial Gas Division and Caribbean LNG Inc, 2G Energy Inc, AGP City Gas Pvt Ltd, H-Energy Gateway Pvt. Ltd., Hoglund Gas Solutions AS, IRM Energy Limited, Saint Gobain India Private Limited, Shell Energy India Private Limited; Think Gas Distribution Private Limited, Ultra Gas & Energy Limited in LNG Division.
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 (CVA) Limited IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 4,422,191 | 3,316,644 2,211,096 1,105,548 | 7,738,835 | 15,477,670 |
| Day 1 - 14-12-23 05:00 PM | 0.04 x | 4.57 3.85 x 5.99 x | 3.61 x | 2.79 x |
| Day 2 - 15-12-23 05:00 PM | 0.17 x | 13.73 12.00 x 17.19 x | 8.17 x | 7.07 x |
| Day 3 - 18-12-23 05:00 PM | 147.80 x | 53.20 56.55 x 46.51 x | 15.29 x | 61.28 x |
12.44 times
Inox India (CVA) Limited IPO - Issue Objectives
- Carry out the Offer for Sale of up to 22,110,955 Equity Shares by the Selling Shareholders
- 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.