Cryogenic Equipments Company Inox India files DRHP with SEBI for the proposed IPO; Key Details here

Inox India is into Industries Cryogenic Equipments and is looking raise funds through Offer for Sale

Inox India to raise Fresh Issue of Equity shares up to and an Offer for Sale 22,110,955 Equity Shares through public issue IPO

Inox India IPO: Inox India Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 2 per share via initial public offering.

Initial Public Offer comprising of a Offer for Sale of up to 22,110,955 Equity Shares. ICICI Securities, Axis Capital have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Equity Shares offer-for-sale (OFS) of up to 22,110,955 equity shares by Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, Ishita Jain, Manju Jain, Lata Rungta, Bharti Shah, Kumud Gangwal, Suman Ajmera and Rajni Mohatta who will offload up to 10,437,355 Equity Shares, up to 5,000,000Equity Shares, up to 5,000,000Equity Shares, up to 1,200,000 Equity Shares, up to 230,000Equity Shares, up to 190,000Equity Shares, up to 13,400Equity Shares, up to 13,400Equity Shares, up to 13,400Equity Shares and up to 13,400Equity Shares...

Objects of the issue:
1) carry out the Offer for Sale of up to 22,110,955 Equity Shares by the Selling Shareholders, and 2) achieve the benefits of listing the Equity Shares on the Stock Exchanges..

About Company:
Inox India initially incorporated in 1976. Company is manufacturer of cryogenic equipment and were one of the leading cryogenic tankmanufacturers in the world by revenues in 2021. (Source: CRISIL Report, December2022). Company has over 30 years of experience offering solutions across design, engineering, manufacturing and installation of equipment and systems for cryogenic conditions. Company products includes standard cryogenic tanks and equipment, bespoke technology, equipment and solutions as well as large turnkey projects which are used in diverse industries such as industrial gases, LNG, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace and construction.

About Industry:
The global cryogenic equipment market was valued at $11.2 billion in 2021, and global cryogenic equipment demand is projected to grow at a 6.8% CAGR from 2022 to reach $16.4 billion by 2027.Accordingto CRISIL Research, the demand for cleaner fuels such as LNG and hydrogen due to focus on reducing carbon emissions from conventional energy sources will drive the uptake of cryogenic equipment across geographies. Additionally, the increase in industrialization in developing nations in Asia Pacific is expected to boost demand for industrial gases in segments such as electronics, space and satellite and, in turn, increase demand for cryogenic equipment. (Source: CRISIL Report, December2022)

Source: SEBI, BSE, NSE, DRHP, Inox India, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.