11-Dec-2023
2 mins read
The Inox CVA Initial Public Offering (IPO) is set to raise Rs 1,459.32 crores through a book-built issue. This IPO consists solely of an offer for sale, encompassing 2.21 crore shares.
The subscription window for the Inox CVA IPO opens on December 14, 2023, and will remain open until December 18, 2023. The allocation of shares is scheduled to be finalised by December 19, 2023. Following this, the shares are expected to make their debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 21, 2023.
The price range for the Inox CVA IPO is fixed between Rs 627 and Rs 660 for each share. Investors looking to apply must purchase a minimum of 22 shares, translating to an investment of at least Rs 14,520 for retail investors. For non-institutional investors (sNII), the minimum subscription size is 14 lots, which equals 308 shares, requiring an investment of Rs 203,280. For bigger non-institutional investors (bNII), the minimum is set at 69 lots, or 1,518 shares, amounting to Rs 1,001,880.
ICICI Securities Limited and Axis Capital Limited have been appointed as the lead managers to oversee the book running process of the Inox CVA IPO. Kfin Technologies Limited has been designated as the registrar for this public offering.
Inox India Ltd Product Portfolio
Established in December 1976, Inox India Limited is a prominent provider of cryogenic equipment. The company specialises in delivering comprehensive solutions for systems and equipment used under cryogenic conditions. This includes a range of services such as design, engineering, manufacturing, and installation.
Inox India Limited offers an extensive array of products and services. These include cryogenic tanks and related equipment, beverage kegs, tailor-made technology, and solutions, along with full-scale turnkey project management. The company’s offerings are essential to numerous sectors, including industrial gases, liquefied natural gas (LNG), green hydrogen, the energy sector, the steel industry, medical and healthcare fields, chemical and fertiliser industries, aviation and aerospace, pharmaceuticals, and the construction industry.
The company boasts a diverse clientele, including notable names such as 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 the Industrial Gas Division. Additionally, they serve clients in the LNG Division, such as 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, and Ultra Gas & Energy Limited.
The Objectives of Inox India Limited IPO
The primary goals of this Offer include executing the Offer for Sale for as many as 22,110,955 Equity Shares by the current shareholders looking to sell. Additionally, the company aims to reap the advantages of having its Equity Shares listed on the stock exchanges. This proposed listing is anticipated to not only increase the company’s visibility and strengthen its brand image but also establish a public market for its Equity Shares within India. It is important to note that the proceeds from this Offer, after the deduction of any expenses related to the Offer and applicable taxes, will be entirely allocated to the selling shareholders.
Financial Performance of Inox India Limited IPO (In Rs and Crore)
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 1,155.81 | 1,148.36 | 896.75 | 687.2 |
| Revenue | 580 | 984.2 | 803.71 | 608.99 |
| Profit After Tax | 103.34 | 152.71 | 130.5 | 96.11 |
| Net Worth | 554.24 | 549.48 | 502.28 | 371.51 |
| Total Borrowing | 31.03 | 43.38 | 60.37 |
Important Dates for Inox India Limited IPO (Tentative)
| IPO Date | December 14, 2023 to December 18, 2023 |
| Listing Date | Yet to be announced |
| Face Value | Rs 2 per share |
| Price Band | Rs 627 to Rs 660 per share |
| Lot Size | 22 Shares |
| Total Issue Size | 22,110,955 shares (aggregating up to Rs 1,459.32 Cr) |
| Offer for Sale | 22,110,955 shares of Rs 2 (aggregating up to Rs 1,459.32 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 90,763,500 |
Time Table of Inox India Limited IPO (Tentative)
| IPO Open Date | Thursday, December 14, 2023 |
| IPO Close Date | Monday, December 18, 2023 |
| Basis of Allotment | Tuesday, December 19, 2023 |
| Initiation of Refunds | Wednesday, December 20, 2023 |
| Credit of Shares to Demat | Wednesday, December 20, 2023 |
| Listing Date | Thursday, December 21, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 18, 2023 |
IPO Reservation of Inox India Limited IPO
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Promoter of the Inox India Limited IPO
Pavan Kumar Jain, Nayantara Jain, Siddharth Jain and Ishita Jain are the promoters of the company.
Promoter Holding of Inox India Limited IPO
| Shareholding Pre-Issue | 99.30% |
| Shareholding Post Issue | 75.46% |
Inox India Limited IPO Lot Size
Investors have the option to place bids starting with a minimum of 22 shares and can increase their bid in multiples of 22 shares. The accompanying table illustrates both the minimum and maximum investments possible for retail investors and high-net-worth individuals (HNIs), expressed in terms of the number of shares and the corresponding monetary value.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 22 | Rs 14,520 |
| Retail (Max) | 13 | 286 | Rs 188,760 |
| S-HNI (Min) | 14 | 308 | Rs 203,280 |
| S-HNI (Max) | 68 | 1,496 | Rs 987,360 |
| B-HNI (Min) | 69 | 1,518 | Rs 1,001,880 |
Key Performance Indicator of Inox India Limited IPO
Inox CVA IPO Market Cap is Rs 5990.39 Cr and P/E (x) is 39.22.
| 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% |
Inox India Limited IPO Lead Manager(s)
The lead managers of Inox India Limited IPO are ICICI Securities Limited and Axis Capital Limited.
How to Apply for Inox India Limited IPO
Wait for the public issue to open for subscription, then click on this link to apply for the Inox India Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check the Allotment Status of Inox India Limited IPO
The registrar for Inox India Limited IPO is Kfin Technologies Limited. To check your allotment status, please click on this link https://kosmic.kfintech.com/ipostatus/
FAQs
- What is the Inox India Limited IPO?
The Inox India Limited IPO is a public offering aiming to raise Rs 1,459.32 crores through a book-built issue. It involves the sale of 2.21 crore shares exclusively as an offer for sale.
- When is the IPO subscription period?
The subscription for the Inox India Limited IPO opens on December 14, 2023, and closes on December 18, 2023.
- What is the price band for the IPO?
The price band for the Inox CVA IPO is set between Rs 627 and Rs 660 per share.
- What is the minimum investment for retail investors?
Retail investors can start bidding with a minimum of 22 shares, which amounts to a minimum investment of Rs 14,520.
- Who are the lead managers for the IPO?
ICICI Securities Limited and Axis Capital Limited are the lead managers for the Inox India Limited IPO.
- What industries does Inox India Limited cater to?
Inox India Limited serves various industries, including industrial gases, LNG, green hydrogen, energy, steel, medical, healthcare, chemicals, fertilizers, aviation, aerospace, pharmaceuticals, and construction.
- How can one apply for the Inox India Limited IPO?
Investors can apply for the IPO during the subscription period through platforms like Bigul at Bigul IPO Application Link.
- How can investors check their allotment status?
Allotment status can be checked through Kfin Technologies Limited’s portal at Kfin Technologies IPO Allotment Status Link.
- What are the key financials of Inox India Limited?
As of September 30, 2023, the company had assets of Rs 1,155.81 crore, revenue of Rs 580.00 crore, and a profit after tax of Rs 103.34 crore.
- Who are the promoters of Inox India Limited?
The promoters of the company are Pavan Kumar Jain, Nayantara Jain, Siddharth Jain, and Ishita Jain.