Inox India IPO - Everything You Must Know
One of the leading manufacturers of cryogenic storage tanks, Inox India, is about to launch its IPO on 14 December 2023. The much-awaited IPO is expected to boost the overall stock market scenario.
Let’s have a look at Inox IPO details here.
About Inox India Limited (INOXCVA)
The Gujarat-based company, Inox India is a supplier of cryogenic equipment that excels in offering end-to-end solutions for equipment and systems operating in cryogenic conditions. From design to engineering to manufacturing, INOXCVA is a leader that offers a plethora of products and services.
With its 3 primary divisions, i.e. Industrial Gas, LNG, and Cryo Scientific, the company caters to various industries dealing in industrial gases, healthcare, green hydrogen, chemicals, energy, aviation, and more.
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Key Things to Know About Inox India IPO
Some of the important things you should know about Inox India IPO are-
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IPO Date |
14 December, 2023 to 18 December, 2023 |
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Price Band |
Rs 627 to Rs 660 per share |
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Face Value |
Rs 2 per share |
|
Lot Size |
22 Shares |
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Total Issue Size |
22,110,955 shares (aggregating up to Rs 1,459.32 Cr) |
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Offer for Sale |
22,110,955 shares of Rs 2 (aggregating up to Rs 1,459.32 Cr) |
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Inox India IPO Date
The Inox India IPO will open for subscription on 14th November 2023 and will close on 18th November 2023.
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Listing Date
Inox India shares trading will begin on 21 December 2023 as per the schedule.
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Offer Details
The company is aiming to raise approximately Rs 1,459 crores through the IPO. As per the company-
- The issue is entirely an offer for sale (OFS) of 2.21 crore shares having a face value of Rs 2 each. Note there is no fresh issue segment in the IPO.
- Around 50% of the offer is reserved for Qualified Institutional Buyers (QIBs), 35% for Retail Investors, and the remaining 15% is for Non-institutional Investors.
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Inox India Share Price Band
The price band for Inox India's IPO has been set at Rs 627 to Rs 660 per share.
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Lot Size
Inox India IPO lot size is 22 shares with a Rs 14,520 application amount. Retail investors can apply up to 13 lots with 286 shares or Rs 188,760 amount.
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Company Financials
During the financial year ending with 31 March 2023 and 31 March 2022, the revenue of Inox India Limited increased by approx 22.46% and profit after tax (PAT) rose by 17.02%
Here’s a brief glimpse of the break-up of the Financials of Inox India (in Rs crores)-
|
Year Ended on |
30 Sep 2023 |
31 March 2023 |
31 March 2022 |
31 March 2021 |
|
Assets |
1,155.81 |
1,148.36 |
896.75 |
687.20 |
|
Revenue |
580.00 |
984.20 |
803.71 |
608.99 |
|
Profit After Tax |
103.34 |
152.71 |
130.50 |
96.11 |
|
Net Worth |
554.24 |
549.48 |
502.28 |
371.51 |
How to Apply for Inox India IPO on Groww
To apply for Inox India IPO online on Groww, follow the steps mentioned below-
Step 1: Visit Groww's IPO Page, or if you are a Groww app user, visit the stocks tab, scroll down to view the list of live IPOs and select Inox India Limited IPO.
Step 2: After clicking on Inox India IPO, you will be able to view all the essential details, such as issue size, price, etc. Here, the Red Herring Prospectus (RHP) will also be visible, providing detailed information about the issue. Next, click on ‘Apply’ to proceed.
Step 3: In the order card, you will see the pre-filled field for the minimum number of shares. Enter the number of shares you wish to buy. Click on ‘Continue’ to proceed further.
Step 4: In the next step, you will be required to verify bids and click on ‘Submit Bid‘.
Step 5: Once you confirm the order, the highest bid amount will be blocked in your account and cannot be used for withdrawal. Note this amount will get unblocked if you do not receive the allotment.
You can check the status of your Inox India IPO application on your Groww account. Note that any modifications/order cancellations will be possible only till the time the IPO is open.
The Bottom Line
With a solid customer base and market standing, Inox India has been a market leader for years. Its IPO is being eyed by millions of investors, given the company’s credibility, futuristic approach and market presence.
You should certainly apply for this IPO only after considering the essential factors such as the company’s objectives, financials, market potential, growth prospects, and of course, the benefits and risks.
Disclaimer: This blog is solely for educational purposes. The securities/investments quoted here are not recommendatory.
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Research Analyst - Aakash Baid