InoxCVA's initial public offering (IPO) is set to kick off on December 14, with a fixed price band of Rs 627-660 per share and a lot size of 22 equity shares, and its multiples. The subscription window for this three-day offering will close on December 18.
Established in 1976, Inox India specializes in supplying cryogenic equipment, particularly tanks, and provides comprehensive solutions, covering design, engineering, manufacturing, and installation for systems operating in cryogenic conditions.
The company aims to generate Rs 1,459.32 crore through its IPO, which consists entirely of an offer-for-sale (OFS) of up to 22,110,955 equity shares by promoters and other selling shareholders. The offer period begins with the anchor book opening on December 13.
InoxCVA's offerings include cryogenic tanks, beverage kegs, tailored technology, equipment, and turnkey projects for diverse industries such as industrial gases, LNG, green hydrogen, energy, steel, healthcare, chemicals, aviation, pharmaceuticals, and construction.
As of September 2023, InoxCVA has exported products and services to 66 countries globally, including the United States, Saudi Arabia, the Netherlands, Brazil, Korea, the UAE, Australia, and Bangladesh. Manufacturing facilities are located in Kalol, Kandla Special Economic Zone (Kandla SEZ), and Silvassa in the Union Territory of Daman and Nagar Haveli.
Reserved allocations for the IPO are 50% for qualified institutional bidders (QIBs), 15% for non-institutional investors, and the remaining 35% for retail investors.
For the period ending September 30, 2023, InoxCVA reported a net profit of Rs 103.34 crore and total revenue of Rs 580 crore. The financial year ending March 31, 2023, saw a net profit of Rs 152.71 crore and total revenue of Rs 984.20 crore.
ICICI Securities and Axis Capital serve as the book running lead managers for the IPO, with Kfin Technologies appointed as the registrar. The shares are scheduled to be listed on both the BSE and NSE on December 21.
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