Inox India IPO; Cryogenic Equipments company IPO to begin from December 14; Key Details here

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

Inox India to raise around Rs 1,386 crores through public issue IPO

Inox India IPO is a public offering of shares by Pavan Kumar Jain, Nayantara Jain, Siddharth Jain and Ishita Jain. The IPO will open on December 14 and will close on December 18. The price band is ₹627 to ₹660 per share and the lot size is 22 shares. The issue size is ₹1,459.32 crore. The shares are expected to be listed on NSE, BSE on December 21 (^). Some additional information that you may find useful are: Segment wise Revenue share for Industrial Gas, LNG and Cyro Scientific during 6MFY24 were at 64%, 30.5%, 5.5% (v/s FY23: 70.9%, 24.9%, 4.2% / v/s FY22: 79.3%, 16.1%, 4.6%): (**) - based on higher price band (^) indicative date

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Key Pointers of Inox India IPO:

• Promoters of the company are Pavan Kumar Jain, Nayantara Jain, Siddharth Jain and Ishita Jain Currently promoters hold 99.3% stake in the company.
• Company aims to raise between Rs 1,386 to 1,459 crs through this IPO.
• The net proceeds of the issue will be utilized to 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.
• Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 13-Dec-23.
• Price band for the IPO has been fixed at Rs 627 to 660 per share and bid lot are in multiple of 22 shares. The implied market cap post-issue at Rs 5,691 to 5,990 crs.
• As per the tentative schedule, allotment date of this IPO is most likely on December 19 and share are expected to be listed on NSE, BSE on December 21.
• There are no listed companies in India that engage in a business similar to that of the Company. Accordingly,it is not possible to provide an industry comparison in relation to the Company.
• ICICI Securities, Axis Capital has been appointed as Merchant Banker to the issue. KFin Technologies Ltd. has been appointed as official registrar of the issue.

About Inox India Limited

Inox India Limited

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.

Segment wise Revenue share for Industrial Gas, LNG and Cyro Scientific during 6MFY24 were at 64%, 30.5%, 5.5% (v/s FY23: 70.9%, 24.9%, 4.2% / v/s FY22: 79.3%, 16.1%, 4.6%)

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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.