Inox India IPO: Inox CVA India Limited IPO Details

The Inox India Limited IPO (Initial Public Offering) is generating significant buzz in the financial markets. As of December 14, 2023, this book-built issue is set to raise Rs 1,459.32 crores and consists entirely of an offer for sale of 2.21 crore shares. In this blog, we will delve into the essential details of the Inox CVA IPO, its objectives, financial performance, and what investors can expect from this offering.

Also See: Inox India IPO GMP | Inoxcva IPO GMP Today

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Inox India IPO Details

Here are the key details of the Inox CVA IPO:

ParameterDetails
IPO NameInox India IPO
IPO DateDecember 14, 2023, to December 18, 2023
Basis of AllotmentDecember 19, 2023
Listing DateDecember 21, 2023
Face Value₹2 per share
Price Band₹627 to ₹660 per share
Lot Size22 Shares
Total Issue Size22,110,955 shares (aggregating up to ₹1,459.32 Cr)
Offer for Sale22,110,955 shares of ₹2 (aggregating up to ₹1,459.32 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Shareholding Pre Issue90,763,500

Also See: Inox India IPO: Should you Apply?

Inox CVA IPO Reservation

The allocation of shares in the Inox CVA IPO is reserved as follows:

  • QIB (Qualified Institutional Buyers): Not more than 50% of the Net Issue
  • Retail Investors: Not less than 35% of the Net Issue
  • NII (HNI – Non-Institutional Investors): Not less than 15% of the Net Issue

Also See: IPO Subscription Status Live Today

Inox CVA IPO Lot Size

Investors can bid for a minimum of 22 shares and in multiples thereof. The table below illustrates the minimum and maximum investment by retail investors and HNIs in terms of shares and amount:

ApplicationLotsSharesAmount
Retail (Min)122₹14,520
Retail (Max)13286₹188,760
S-HNI (Min)14308₹203,280
S-HNI (Max)681,496₹987,360
B-HNI (Min)691,518₹1,001,880

Also See: Upcoming IPO in India

Inox CVA IPO Promoter Holding

The Promoters of Inox India Limited are Pavan Kumar Jain, Nayantara Jain, Siddharth Jain, and Ishita Jain. Before the IPO, the promoter holding stands at 99.30%, and post-IPO, it will be reduced to 75.46%.

Anchor Investors Details

Inox CVA IPO garnered substantial interest from anchor investors, raising Rs 437.80 crore. The anchor bid date was December 13, 2023. There are lock-in periods for these shares, with 50% becoming available on January 31, 2024, and the remaining 50% on April 24, 2024.

Also Read: Announced IPOs: Upcoming Big IPOs in India 2024

Inox CVA IPO Objectives

The primary objectives of the Inox CVA IPO are:

  1. Offer for Sale: To carry out the Offer for Sale of up to 22,110,955 Equity Shares by the Selling Shareholders.
  2. Listing Benefits: To achieve the benefits of listing the Equity Shares on the Stock Exchanges. The Company expects that the proposed listing will enhance its visibility and brand image and 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.

Also See: Benefits and Risks of Investing in IPOs: A Comprehensive Guide

Financial Performance

Inox India Limited has shown robust financial performance. Its revenue increased by 22.46%, and profit after tax (PAT) rose by 17.02% between the financial years ending March 31, 2023, and March 31, 2022.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,155.811,148.36896.75687.20
Revenue580.00984.20803.71608.99
Profit After Tax103.34152.71130.5096.11
Net Worth554.24549.48502.28371.51
Reserves and Surplus
Total Borrowing31.0343.3860.37
Amount in ₹ Crore
Financial Performance

Also Read: What Is a Good P/E Ratio?- Earnings Yield, Price/Earnings-to-Growth (PEG) Ratio

About Inox India Limited

Incorporated in 1976, Inox India Limited is a prominent player in the manufacturing and supply of cryogenic equipment. The company operates in three key divisions:

  1. Industrial Gas: This division focuses on designing, manufacturing, and installing cryogenic tanks and systems for the storage, transportation, and distribution of industrial gases, including green hydrogen and oxygen.
  2. LNG: Inox India Limited’s LNG division is involved in developing, manufacturing, supplying, and installing equipment for LNG storage, distribution, and transportation. It also offers small-scale LNG infrastructure solutions for various applications.
  3. Cryo Scientific: This division provides equipment and turnkey solutions for scientific and industrial research in the field of cryogenic distribution, with a focus on technology-intensive applications.

The company’s product portfolio includes a range of cryogenic tanks and equipment, beverage kegs, bespoke technology, equipment, and solutions for industries such as industrial gases, LNG, green hydrogen, energy, steel, medical and healthcare, chemicals, aviation, pharmaceuticals, and construction.

As of September 2023, Inox India Limited has exported its products and services to 66 countries, establishing a global presence. The company’s manufacturing facilities are located in Kalol, Kandla Special Economic Zone (Kandla SEZ), and Silvassa in the Union Territory of Dādra and Nagar Haveli. Its order book stood at Rs. 10,366.09 million as of September 2023.

Key Performance Indicators (KPI)

  • Market Cap: Rs 5,990.39 Crores
  • P/E (x): 39.22
  • Post P/E (x): 29
  • ROE (Return on Equity): 27.79%
  • ROCE (Return on Capital Employed): 36.53%
  • EPS (Earnings per Share): Rs 16.83
  • RoNW (Return on Net Worth): 27.79%

Inox CVA IPO Registrar

The registrar for the Inox CVA IPO is Kfin Technologies Limited. You can contact them via phone at 04067162222, 04079611000 or email at [email protected]. For more information, visit their website at https://kosmic.kfintech.com/ipostatus/.

Also Read: When Can a Company Go for IPO in India

Inox CVA IPO Lead Manager(s)

The lead managers for the Inox CVA IPO are ICICI Securities Limited and Axis Capital Limited.

IPO Timeline

Here is the tentative schedule for the Inox CVA IPO:

  • IPO Open Date: Thursday, December 14, 2023
  • IPO Close Date: Monday, December 18, 2023
  • Basis of Allotment: Tuesday, December 19, 2023
  • Initiation of Refunds: Wednesday, December 20, 2023
  • Credit of Shares to Demat: Wednesday

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