Inox India Limited is coming out with its IPO for subscription on December 14. It is a company that specializes in the design, engineering, manufacturing, supply, and commissioning of turnkey packaged systems for cryogenic equipment.
Inox CVA IPO is a book-built issue of Rs 1,459.32 crores. The issue is entirely an offer for sale (OFS) of 2.21 crore shares by promoters Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, and Ishita Jain. Apart from them, Manju Jain, Lata Rungta, Bharti Shah, Kumud Gangwal, Suman Ajmera, and Rajni Mohatta, too, will offload shares.
It opens for subscription on December 14, 2023, and closes on December 18, 2023.
The allotment for the Inox CVA IPO is expected to be finalized on Tuesday, December 19, 2023.
Inox CVA IPO will list on BSE and NSE with a tentative listing date fixed as Thursday, December 21, 2023.
Inox CVA IPO price band is set at ₹627 to ₹660 per share.
Investors can bid for a minimum of 22 equity shares and in multiples of 22 after that. The minimum amount of investment required by retail investors is Rs 13,794 [ 22 x 627 (lower price band)). At the upper band, the bidding amount will increase to Rs 14,520.
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 23.4 percent to Rs 966 crore.
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.
According to various websites that track the grey market activities, the GMP for Inox India IPO has sold the price range of Rs 300-330 in the unregulated market, reflecting the high demand for the company’s shares.
Some of the renowned clients of Inox India across three categories include Air Liquide Global E&C Solutions India Private Limited, Gulf Cryo LLC, Hyundai Engineering and Construction Co Ltd, Caribbean LNG Inc, 2G Energy Inc, AGP City Gas Pvt Ltd, Shell Energy India Private Limited; Think Gas Distribution Private Limited, ISRO, and more.
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