Inox India IPO Details ( Inox India Limited IPO Review )
(14 Dec 2023 – 18 Dec 2023)
Established in 1976, Inox India Limited is a company that makes and supplies cryogenic equipment.
The company has three main parts:
- Industrial Gas: This section creates, builds, and sets up cryogenic tanks and systems. These are used to store, transport, and distribute industrial gases like green hydrogen and oxygen.
- LNG: In this division, they design, produce, supply, and install various equipment for LNG storage, distribution, and transportation. They also offer small-scale LNG solutions for industrial, marine, and automotive applications.
- Cryo Scientific: This department provides equipment and complete solutions for scientific and industrial research. They focus on cryogenic distribution, especially in technology-intensive applications.
Their product range includes standard cryogenic tanks and equipment, beverage kegs, customized technology, equipment and solutions, and large turnkey projects. These find applications in diverse industries like industrial gases, liquefied natural gas (“LNG”), green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals, and construction.
During the six months ending September 30, 2023, and in Fiscal 2023, Fiscal 2022, and Fiscal 2021, the company supplied its equipment and systems to 1,255 domestic and 254 international customers across the three divisions. Major customers include Air Liquide Global E&C Solutions India Private Limited, Caribbean LNG Inc, 2G Energy Inc, ISRO, Hyundai Engineering and Construction Co Ltd, and many others.
As of September 2023, the company has exported products and services to 66 countries, including the United States, Saudi Arabia, the Netherlands, Brazil, Korea, the United Arab Emirates, Australia, and Bangladesh. Manufacturing facilities are located 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 stands at ₹10,366.09 million.
Inox India Limited IPO Competitive Strength
- Leading Indian supplier and exporter of cryogenic equipment and solutions
- 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
- Experienced Promoters, Management Team and Skilled Workforce
Inox India IPO Financials Performance ( Results )
Inox India Limited Financial Information (Restated)
All Amount in ₹ Lakhs
| Period Ended | Total Assets | Total Revenue | PAT | EPS (₹) | Net Worth | Reserves | Borrowing |
| 31-Mar-21 | 687.20 | 608.99 | 96.11 | 10.59 | 371.51 | 60.37 | |
| 31-Mar-22 | 896.75 | 803.71 | 130.50 | 14.38 | 502.28 | 43.38 | |
| 31-Mar-23 | 1,148.36 | 984.20 | 152.71 | 16.83 | 549.48 | ||
| 30-Sep-23 | 1,155.81 | 580.00 | 103.34 | 11.39 | 554.24 | 31.03 |
Objective of Inox India IPO 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 Basic Details
| IPO Date | Dec 14, 2023 to Dec 18, 2023 |
| Listing Date | Thursday, December 21, 2023 |
| Face Value | ₹2 per share |
| Price | ₹627 to ₹660 per share |
| Lot Size | 22 Shares |
| Issue Size | 22,110,955 shares of ₹2 (aggregating up to ₹1,459.32 Cr) |
| Fresh Issue | 22,110,955 shares of ₹2 (aggregating up to ₹1,459.32 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, BSE |
| Share holding pre issue | 90,763,500 |
| Share holding post issue | |
| Company Promoters | Pavan Kumar Jain, Nayantara Jain, Siddharth Jain and Ishita Jain |
InoxCVA IPO Reservation
| QIB Shares Offered | 50% of the Net Issue |
| NII (HNI) Shares Offered | 15% of the Net Issue |
| Retail Shares Offered | 35% of the Net Issue |
Inox IPO Timetable
Inox IPO will open on December 14, 2023 and close on December 18, 2023. You can join Inox IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 14 December 2023 (Thursday) |
| Closing Date | 18 December 2023 (Monday) |
| Basis of Allotment | 19 December 2023 (Tuesday) |
| Initiation of Refunds | 20 December 2023 (Wednesday) |
| Credit of Shares to Demat | 20 December 2023 (Wednesday) |
| Listing Date | 21 December 2023 (Thursday) |
| Deadline for UPI mandate confirmation | 5 PM on 18 December 2023 |
InoxCVA IPO Lot Size
For retail investors in InoxCVA IPO, 22 shares will come in 1 lot or the minimum investment will be ₹14,520. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹188,760.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 22 | ₹14,520 |
| Retail (Max) | 13 | 286 | ₹188,760 |
| S-HNI (Min) | 14 | 308 | ₹203,280 |
| S-HNI (Max) | 68 | 1,496 | ₹987,360 |
| B-HNI (Min) | 69 | 1,518 | ₹1,001,880 |
Inox CVA IPO Promoter Holding
The company’s promoters include Pavan Kumar Jain, Nayantara Jain, Siddharth Jain and Ishita Jain.
| Pre Issue Share Holding | 99.30% |
| Post Issue Share Holding | 75.46% |
Inox India Ltd IPO Key Performance Indicator ( Valuation )
In the table given below, all the figures have been told according to the latest financial year.
| KPI | Values |
| Market Cap (₹ Cr.) | 5990.39 |
| Earning Per Share (EPS) | ₹16.83 per Equity Share |
| Net Asset Value (NAV) | ₹60.54 per Equity Share |
| P/E Ratio (P/E) (x) | 39.22 |
| Return on Net Worth (RoNW) (%) | 27.79 |
| Return on equity (ROE) (%) | 27.79 |
| Return on Capital Employed (ROCE) (%) | 36.53 |
| Debt/Equity Ratio | Coming Soon |
Inox India Ltd Peer Comparison
There are no listed companies in India that are comparable in all aspects of business and services that the Company provides. Hence, it is not possible to provide an industry comparison in relation to the Company.
Inox India IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| Today | ₹440 | – | – |
| 20 December 2023 | ₹545 | – | – |
| 19 December 2023 | ₹545 | – | – |
| 18 December 2023 | ₹545 | – | – |
| 17 December 2023 | ₹555 | – | – |
| 16 December 2023 | ₹555 | – | – |
| 15 December 2023 | ₹550 | – | – |
| 14 December 2023 | ₹550 | – | – |
| 13 December 2023 | ₹445 | – | – |
| 12 December 2023 | ₹440 | – | – |
| 11 December 2023 | ₹330 | – | – |
Inox India IPO Detail Video:
Inox India IPO Subscription Status (Bidding Detail)
The Inox India IPO on December 18, 2023 at 7:30:00 PM was subscribed 122.55 times, with the retail category being subscribed 30.59 times, the NII (Non-Institutional Investor) category being subscribed 106.40 times, QIB (Qualified-Institutional Buyers) category being subscribed 295.61 times.
| Category | Subscription |
| QIB | 295.61x |
| NII | 106.40x |
| Retail | 30.59x |
| Total | 122.55x |
Inox India IPO Prospectus
| Inox India IPO DRHP | Download |
| Inox India IPO RHP | Download |
| Inox India IPO Anchor Investors Details PDF | Download |
Inox India IPO Rating
| Our Rating | 3.5/5.0 |
Inox India Company Contact Information
Inox India Limited
Registered and Corporate Office: 9th Floor, K P Platina, Racecourse, Vadodara – 390 007, Gujarat, India.
Telephone: +91 265 6160100
Contact Person: Kamlesh Shinde, Company Secretary and Compliance Officer
Telephone: +91 265 6160145
E-mail: secretarial.in@inoxcva.com
Corporate Identity Number: U99999GJ1976PLC018945
Website: www.inoxcva.com
Promoters of Our Company: Pavan Kumar Jain, Nayantara Jain, Siddharth Jain and Ishita Jain
Inox India IPO Registrar
KFin Technologies Limited
Registered Office: Selenium, Tower-B, Plot 31 & 32, Financial District Nanakramguda, Serilingampally, Hyderabad, Rangareddy 500 032, Telangana, India
Telephone: +91 40 6716 2222
E-mail: inox.ipo@kfintech.com
Investor grievance e-mail: einward.ris@kfintech.com
Website: www.kfintech.com
Contact person: M. Murali Krishna
SEBI Registration No.: INR000000221
Inox India IPO Lead Manager
ICICI Securities Limited
Registered Office: ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi
Mumbai 400 025, Maharashtra, India
Telephone: +91 22 6807 7100
E-mail: inoxindiaipo@icicisecurities.com
Investor grievance e-mail: customercare@icicisecurities.com
Website: www.icicisecurities.com
Contact person: Sameer Purohit/ Kristina Dias
SEBI registration no: INM000011179
Axis Capital Limited
Registered Office: 1st Floor, Axis House, C-2, Wadia International Centre P.B. Marg, Worli
Mumbai 400 025 Maharashtra, India
Telephone: + 91 22 4325 2183
E-mail: inoxindia.ipo@axiscap.in
Investor grievance e-mail: complaints@axiscap.in
Website: www.axiscapital.co.in
Contact person: Pavan Naik
SEBI Registration No: INM000012029
Inox India IPO FAQs
What is the lot size of Inox India IPO?
The total size of Inox India IPO is ₹1,459.32 crores and this is a complete offer for sale (OFS) Issue.
When will Inox India IPO start?
Inox India IPO will open from 14 December 2023 and IPO will close on 18 December 2023.
What is the open date of Inox India IPO?
Inox India IPO will open date from 14 December 2023.
What is the last date ( close date ) of Inox India IPO?
Inox India IPO will close from 18 December 2023.
What is the price band of Inox India IPO?
Inox India IPO price band is ₹627 to ₹660. ( Upper Price Band: ₹660, Lower Price Band: ₹627 )
What is the minimum amount required to apply for Inox India IPO?
The minimum investment for retailers to apply for Inox India IPO is ₹14,520 and the maximum investment is ₹188,760.
What is going on gray market premium of Inox India IPO?
View gray market premium of Inox India IPO by Clicking Here
How much is the GMP of Inox India IPO?
Watch Inox India IPO GMP Today: Click Here
What is the allotment date of Inox India IPO?
The allotment date of Inox India IPO is 19 December 2023.
How to check allotment status in Inox India IPO?
To check the allotment status of Inox India IPO, first of all go to the registrar website by clicking here, select your bad Inox India IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of Inox India IPO?
The listing date of Inox India IPO is 21 December 2023.
How much will be the listing gain in Inox India IPO?
View listing gain of Inox India IPO by Clicking Here
How much time Inox India IPO is subscribed?
Total 122.55 times subscribed in Inox India IPO out of which 30.59 times subscription was done in retail quota, 106.40 times subscription in NII quota and 295.61 times subscription in QIB quota.
How to apply for Inox India IPO from Upstox?
Click Here to see how to apply for Inox India IPO from Upstox. (step by step)
How to apply for Inox India PO from Zerodha?
Click Here to see how to apply for Inox India IPO from Zerodha. (step by step)
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Click Here to see how to apply for Inox India IPO from Angle One. (step by step)
