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Let’s have a detailed review of the company and analytics of the Inox India IPO release date, IPO offer price, subscription, Inox India Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.

Face Value Rs 2
Price Band Rs 627 to Rs 660
Listing At BSE, NSE
Min. Order Quantity 22 Shares
Listing Date December 21, 2023
Offer for Sale Rs 1,459.32 Cr.
Fresh Issue Rs 1,459.32 Cr.
IPO Size Rs Cr.
Tick Size 1

Inox India IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.

Live Performance – Inox India Share Price

Inox India IPO – Summary

Inox India IPOThey are the largest supplier of cryogenic equipment in India by revenue in Fiscal 2023. They have over 30 years of experience offering solutions across design, engineering, manufacturing and installation of equipment and systems for cryogenic conditions.

Their offering includes standard cryogenic tanks and equipment, beverage kegs, bespoke technology, equipment and solutions as well as large turnkey projects which are used in diverse industries.

The Promoter of this company is PAVAN KUMAR JAIN, NAYANTARA JAIN, SIDDHARTH JAIN AND ISHITA JAIN. The lead manager of the issue is ICICI Securities Limited and Axis Capital Limited, and the Registrar of this issue is KFin Technologies Limited.

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Inox India IPO Date

The opening and closing dates of Inox India IPO are December 14, 2023, and December 18, 2023, respectively.

Inox India IPO Subscription

Day / Date QIB NII RII Total Subscription
1st Day – 14th Dec 0.04x 4.60x 3.72x 2.86x
2nd Day – 15th Dec 0.17x 13.75x 8.22x 7.11x
3rd Day – 18th Dec 295.61x 106.40x 30.59x 122.55x
Shares Offered or Net Issue 4,422,191 3,316,644 7,738,835 22,110,955

The shares subscribed by the public will be updated here.

Inox India IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.

Inox India Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing, and more:

Basis of Allotment Finalization December 19, 2023
Refunds Initiation December 20, 2023
Credit of Shares to Demat Account December 20, 2023
Share Listing Date December 21, 2023

Inox India IPO Price Band

The face value of each share is Rs.10, but the price band of the IPO is Rs 627 to Rs 660 

Inox India IPO Equity Size

This Initial Public Issue of 22,110,955 Equity Shares of Rs.10 each for cash at a price of Rs 627 to Rs 660 per equity share aggregating to Rs.1,459.32 Cr.

Inox India IPO Share Offering

Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 22,110,955 Equity Shares of Rs.10/ each.

Issue Size: 22,110,955 Equity Shares of Rs.10 each, aggregating to Rs.1,459.32 Cr.

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    Inox India IPO – Live Performance

    The listing date of this IPO is December 21, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.

    Live IPO Performance – Inox India Share Price

    Inox India IPO Grey Market Premium

    The Inox India Limited IPO Grey Market Premium price is Rs 550, the Kostak rate is Rs 500 and the Subject to Sauda is Rs 9000. 

    Inox India IPO – Company Overview

    Their Industrial Gas Division designs, manufactures, supplies and installs vacuum-insulated cryogenic storage tanks and systems for the storage, distribution and transportation of industrial gases.

    They design and manufacture customized cryogenic storage tanks and systems for their customers’ requirements as well as standard storage tanks in accordance with industry standards. Their storage tank offering includes stationery storage tanks from 1,000 litres to one million litres capacity, portable storage tanks from 1 litre to 1,000 litres capacity and transport tanks and tankers/trailers up to 60,000 litres capacity.

    Their product line also includes vaporizers of various types and skid-mounted piping skids for pumping and regasification. They also provide engineering, procurement and construction (“EPC”) services for cryogenic solutions including bulk storage and regasification equipment, typically associated with petrochemical or steel projects.

    Inox India IPO – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

    Financial Summary:

    Amount (in INR & Million)
    30-Sep-23 30-Sep-22 Mar-23 31-Mar-22 31-Mar-21
    Total Assets 11,558.07 10,018.28 11,483.64 8,967.53 6,872.00
    *Total Revenue 5,799.95 4,946.35 9,841.99 8,037.13 6,089.92
    Total Expense 4,438.23 3,825.95 7,791.50 6,295.06 4,779.27
    Profit After Tax 1,033.37 834.20 1,527.14 1,304.98 961.07

    Earnings per Equity Share (in Million)

    30-Sep-23 30-Sep-22 Mar-23 31-Mar-22 31-Mar-21
    Basic & Diluted 11.39 9.19 16.83 14.38 10.59

    Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 1,527.14 Million, Rs. 1,304.98 Million and Rs. 961.07 Million respectively.

    Inox India IPO – Promoters

    The Promoter of this company is:


    List of Related Parties (Key Managerial Personnel)

    • Pavan Kumar Jain, Chairman and Non-Executive Director
    • Siddharth Jain, Non-Executive Director (Non-Independent)
    • Parag Kulkarni, Executive Director
    • Ishita Jain, Non-Executive Director

    Inox India IPO – Promoters Holding

    • Pre-Issue Share Holding – 99.30%
    • Post-Issue Share Holding – 75.46%

    Inox CVA IPO Offer Details or Issue Details

     Particulars  No. Of Equity Shares
     Equity Shares Offered  Up to 22,110,955 Equity Shares aggregating up to Rs.14593.2 Million
    of which:
    Issue Reserved for the Market Makers Up to [●] Equity Shares aggregating up to Rs.[●]
    Net Issue to the Public Up to [●] Equity Shares aggregating up to Rs.[●]
    Of which:
    Retail Investors Portion Not less than [●] Equity Shares
    Other than Retail Individual Investors Not more than [●] Equity Shares
     Equity Shares outstanding prior to the Issue 90,763,500 Equity Shares
     Equity Shares outstanding after the Issue X Equity Shares

    Inox India IPO Issue Object

    Their Company proposes to utilize the Net Proceeds towards funding the following objects:

    • To carry out the Offer for Sale of up to 22,110,955 Equity Shares by the Selling Shareholders; and
    • To achieve the benefits of listing Equity Shares on the Stock Exchanges

    Inox India IPO – Business Strategy

    • Capitalize on opportunities in LNG and hydrogen as part of the global clean energy transition
    • Capture the full value chain across their product lines
    • Expanding their standard cryogenic and non-cryogenic equipment business into international markets
    • Expanding their large turnkey project business

    Inox India IPO – Basis of Offer Price

    The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

    Qualitative factors are:

    • Leading Indian supplier and exporter of cryogenic equipment and equipment
    • Large portfolio of specialized cryogenic equipment engineered to global quality standards
    • Diversified domestic and international customer base across industry sectors
    • Strong product development and engineering focus

    The relevant quantitative factors are:

    Basic & Diluted EPS RONW (%) NAV (Rs.)
    31-Mar-23 16.83 27.79 60.54
    31-Mar-22 14.38 25.98
    Mar-21 10.59 25.87

    Inox India IPO: Competitive Peers

    Face Value (Rs.) P/E EPS (Rs.) Return on Net Worth (%) Total Income (Rs. in Millions)
    Inox India Limited 2 [●] 16.83 27.79 9,841.99
    Listed Peers

    Inox India IPO Lead Managers

    Lead Managers
    ICICI Securities Limited

    Axis Capital Limited

    Inox CVA IPO Registrar to offer

    Registrar to the Offer
    KFin Technologies Limited
    Selenium, Tower-B, Plot 31 & 32, Financial District
    Nanakramguda, Serilingampally, Hyderabad
    Rangareddy 500 032, Telangana, India
    Telephone: +91 40 6716 2222
    E-mail: inox.ipo@kfintech.com
    Investor grievance e-mail: einward.ris@kfintech.com
    Website: www.kfintech.com
    Contact person: M. Murali Krishna
    SEBI Registration No.: INR000000221

    Inox India IPO – Other Details

    • Statutory Auditor – K C Mehta & Co LLP, Chartered Accountants
    • Legal Counsel to the Company – Khaitan & Co
    • Bankers to the Company – IDBI Bank Limited, IDFC First Bank Limited, HDFC Bank Limited, Standard Chartered Bank etc

    Inox India IPO Review by Stock Brokers

    Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
    Angel Broking 7.5/10 7.4/10 8.5/10 8.1/10 7.1/10
    Sharekhan 7.2/10 7.1/10 8.6/10 8.1/10 7.2/10
    Kotak Securities 7.3/10 7.5/10 8.4/10 8.1/10 7.3/10
    ICICI Direct 7.3/10 7.3/10 8.7/10 8.1/10 7.1/10
    IIFL 7.5/10 7.2/10 8.8/10 8.0/10 7.1/10
    Edelweiss 7.5/10 7.4/10 8.4/10 8.3/10 7.2/10
    Zerodha 7.4/10 7.1/10 8.5/10 8.1/10 7.0/10
    5Paisa 7.1/10 7.1/10 8.4/10 8.1/10 7.1/10
    Karvy 7.4/10 7.3/10 8.2/10 8.1/10 7.1/10
    Motilal Oswal 7.1/10 7.1/10 8.6/10 8.3/10 7.2/10


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      Inox India Limited IPO News

      News 1 – IPO DRHP Download

      News 2 – IPO RHP Prospectus Download

      Inox India IPO Review FAQs

      Check out various FAQs related to Inox India IPO:

      What is the Issue Size of Inox India IPO?

      The Company is making an initial public offer of 22,110,955 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.

      What is the Price band of Inox CVA IPO?

      The price band for this particular IPO ranges between Rs 627 to Rs 660. As far as the face value of the share is concerned, it is Rs. 2 per share.

      What is the Inox India IPO Open Date?

      The opening and closing dates for this IPO have been updated. The IPO is set to open on December 14, 2023, while the closing date is set at December 18, 2023.

      What is the Inox India IPO Allotment Date?

      They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on December 19, 2023, refund initiation is on December 20, 2023, credit of shares is on December 20, 2023, and share listing date is on December 21, 2023.

      What is the Inox India IPO Listing Date?

      Shares of this company shall be listed in the exchanges on December 21, 2023. The date, when the listing would be done, is stagnant on December 21, 2023.

      Who is the Registrar of Inox CVA IPO?

      One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.

      Who is the Promoter of Inox India IPO?

      Here are the promoters of this IPO – PAVAN KUMAR JAIN, NAYANTARA JAIN, SIDDHARTH JAIN AND ISHITA JAIN. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

      What is the GMP of Inox India IPO?

      They have obtained the GMP of this IPO and it is Rs 550. Further insights into the Kostak rate and subject to sauda or SS are also included in this report.

      Is Inox India IPO Good for Investment?

      They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

      What is the PAT of Inox India Company?

      They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 1,527.14, 2022 is 1,304.98, and 2021 is 961.07. PAT from Sep 2023 is 1,033.37.

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