INOX India IPO Opens Today: All You Need To Know About The Company & Its IPO

The initial public offering (IPO) of Inox India has opened for subscription today, on December 14, and will close on December 18.

What Is The Size Of The INOX India IPO?

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The size of the Inox India IPO is ?1,459.32 crores, and it is entirely an offer for sale of 2.21 crore shares. The price band for the IPO has been fixed at Rs 627¨C660 per share. Trading in Inox India Limited shares will commence on December 21, which is its listing day, as per the IPO schedule. The company is expected to have a market cap of Rs 5990.4 crore after the IPO.

INOX India IPO GMP today price or grey market premium was ?400, which meant shares were trading at the premium price of ?400. This means that the listing price of the issue could be ?1,060, which is 60.61% higher than the issue price.

For the unversed, 'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: ITC Likely To Launch Separate IPO For Its Hotel Business In 2024

When Was The IPO-Bound Company Founded?

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Incorporated in 1976, Inox India Limited manufactures and supplies cryogenic equipment. As per the IPO¡¯s red herring prospectus (RHP), the promoters are Pavan Kumar Jain, Nayantara Jain, Siddharth Jain, and Ishita Jain. The selling shareholders include Siddharth Jain (up to 10,437,355 equity shares), Pavan Kumar Jain (up to 5,000,000 equity shares), Nayantara Jain (up to 5,000,000 equity shares), Ishita Jain (up to 1,200,000 equity shares), and Manju Jain (up to 230,000 equity shares).

ICICI Securities Limited and Axis Capital Limited are the book-running managers of the Inox India IPO, while Kfin Technologies Limited is the registrar.

Which Sector Does Inox India Belong To?

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IPO-bound INOXCVA is a leading global cryogenic equipment manufacturer, primarily specialising in cryogenic tanks. It also provides end-to-end cryogenic solutions for the storage, transportation, and distribution of industrial gases. Additionally, it is involved in the procurement, liquefaction, storage, transportation, and regasification of natural gas. It has three primary revenue sources:

How Did INOX Perform Financially In Recent Times?

For FY23, the company registered a 17 percent on-year growth in net profit at Rs 152.7 crore. Its revenue during the period increased by 23.4 percent to Rs 966 crore. As per the Mint report, net profit in the six months ended September FY24 surged nearly 24 percent to Rs 103.3 crore, and revenue jumped 16 percent over the last year to Rs 564.6 crore.

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