Inox India IPO: Date, Price Band, GMP, Lot Size, Details and Review
This post was most recently updated on December 21st, 2023
Get ready for an exciting investment opportunity as Inox India announces its Initial Public Offering (IPO), launching on December 14, 2023. This much-anticipated IPO, primarily an Offer for Sale (OFS), is valued at a significant ₹1,459.32 crores, offering 2.21 crore shares to investors.
Here are some key details about the Inox India IPO:
- Subscription Dates: The IPO opens on December 14, 2023, and will close on December 18, 2023. Mark your calendars to ensure you don’t miss out on this opportunity.
- Allotment and Listing: The allotment of shares is expected to be finalized by December 19, 2023. Furthermore, the IPO is set to make its debut on leading stock exchanges BSE and NSE, with a tentative listing date of December 21, 2023.
- Price Band: Shares are reasonably priced between ₹627 and ₹660, making it accessible for a range of investors.
- Investment Details: For retail investors, the minimum investment starts at ₹14,520 for 22 shares. Strategic Non-Institutional Investors (sNII) can invest in 14 lots (308 shares) for ₹203,280, while Bulk Non-Institutional Investors (bNII) have a minimum lot size of 69 lots (1,518 shares), translating to an investment of ₹1,001,880.
As per the current trend of grey market premium, the Inox India IPO listing price is expected to be between ₹1000 and ₹1150.
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Page Contents
Inox India IPO Details
| IPO Date | December 14, 2023 to December 18, 2023 |
| Listing Date | December 21, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹627 to ₹660 per share |
| Lot Size | 22 Shares |
| Total Issue Size | 22,110,955 shares (aggregating up to ₹1,459.32 Cr) |
| Offer for Sale | 22,110,955 shares of ₹2 (aggregating up to ₹1,459.32 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 90,763,500 |
Inox India IPO Dates
| 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, December 20, 2023 |
| Listing Date | Thursday, December 21, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 18, 2023 |
Consider reading: Details of 9 IPOs Open Between 18 December 2023 to 22 December 2023
Inox India IPO Lot Size
| Investor Type | Application Lots | Shares (Min) | Amount (Min) |
|---|---|---|---|
| Retail (Min) | 1 | 22 | ₹14,520 |
| Retail (Max) | 13 | 286 | ₹188,760 |
| S-HNI (Min) | 14 | 308 | ₹203,280 |
| S-HNI (Max) | 68 | 1,496 | ₹987,360 |
| B-HNI (Min) | 69 | 1,518 | ₹1,001,880 |
Consider reading: How to Check IPO Allotment Status
Inox India IPO GMP
| GMP Date | GMP | Estimated Inox India IPO Listing Price |
|---|---|---|
| 14-12-2023 | ₹445 | ₹1105 (67.42%) |
| 13-12-2023 | ₹330 | ₹990 (50%) |
| 12-12-2023 | ₹330 | ₹990 (50%) |
| 11-12-2023 | ₹262 | ₹922 (39.7%) |
Consider reading: INOX India Share Price Target
Inox India Limited Company Overview
Inox India Limited, established in 1976, stands as a distinguished manufacturer and supplier in the cryogenic equipment industry. Let’s delve into the core aspects that define this innovative company:
- Diverse Business Divisions: Inox India Limited operates through three specialized divisions:
- Industrial Gas Division: Expertise in designing, manufacturing, and installing cryogenic tanks and systems for industrial gases like green hydrogen and oxygen.
- LNG Division: Focuses on developing a range of solutions for LNG storage, distribution, transportation, and small-scale LNG infrastructures catering to industrial, marine, and automotive sectors.
- Cryo Scientific Division: Provides cutting-edge equipment and turnkey solutions for scientific and industrial research in cryogenic distribution, emphasizing technology-intensive applications.
- Extensive Product Portfolio: The company’s products range from standard cryogenic tanks to bespoke technology solutions, large-scale turnkey projects, and beverage kegs. These products serve diverse industries such as energy, steel, medical, chemicals, aviation, pharmaceuticals, and construction.
- Impressive Clientele and Global Reach: Inox India Limited has served 1,255 domestic and 254 international clients across its segments, as of September 30, 2023. Renowned clients include Air Liquide Global, Caribbean LNG Inc, 2G Energy Inc, ISRO, Hyundai Engineering, and more. The company boasts a global presence, exporting to 66 countries, including the United States, Saudi Arabia, the Netherlands, and Australia.
- Strategic Manufacturing Facilities: The company operates state-of-the-art manufacturing units located in Kalol, Kandla SEZ, and Silvassa in Dādra and Nagar Haveli.
- Robust Order Book: As of September 2023, Inox India Limited’s order book recorded an impressive Rs. 10,366.09 million.
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Inox India Limited Financial Information
Inox India Limited has demonstrated a robust financial performance, showing significant growth and stability over recent financial years.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 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 |
| Total Borrowing | 31.03 | – | 43.38 | 60.37 |
Here’s a closer look at the key financial figures:
- Consistent Revenue Growth: The company witnessed a notable increase in revenue, climbing by 22.46% from ₹803.71 crore in the financial year ending March 31, 2022, to ₹984.20 crore in the subsequent year.
- Solid Profit After Tax (PAT) Increase: Profit after tax rose by 17.02%, from ₹130.50 crore in March 2022 to ₹152.71 crore in March 2023, indicating a strong bottom-line performance.
- Steady Asset Growth: Total assets have seen a consistent upward trend, growing from ₹687.20 crore in March 2021 to ₹1,155.81 crore as of September 30, 2023.
- Net Worth and Reserves: The company’s net worth has shown a healthy increase, rising from ₹371.51 crore in March 2021 to ₹554.24 crore as of September 30, 2023.
- Borrowing Trends: The total borrowing decreased from ₹60.37 crore in March 2021 to ₹31.03 crore as of September 30, 2023, reflecting a solid financial position with reduced debt.
In summary, Inox India Limited’s financial data paints a picture of a company on a steady growth trajectory, characterized by increasing revenues, robust profits, and a strong asset base.
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Inox India IPO Review and Recommendation
Pros of investing in Inox India IPO:
- Market Leadership: Inox India, a subsidiary of Inox Wind, is a key player in manufacturing cryogenic tanks and systems, boasting a 70% market share in India and 15% globally. The company’s diverse product range, strong customer base, and consistent growth are noteworthy.
- Bright Industry Prospects: The company is well-positioned in the renewable energy sector, benefiting from increasing demand for cryogenic equipment and supportive government policies for clean energy. The IPO’s aim to expand manufacturing and enhance R&D is a forward-looking strategy.
- Attractive Valuation: With a P/E multiple of 55.1x, below the industry average, and a 10% discount for retail investors, the IPO is attractively valued. Positive analyst reviews and high grey market interest further highlight its potential.
Cons of investing in Inox India IPO:
- Industry Cyclicality: The cryogenic equipment industry is subject to fluctuations influenced by global economic conditions and other factors, potentially impacting the company’s performance.
- Regulatory Risks: Inox India operates under various regulations, both domestic and international. Changes or non-compliance in these areas could negatively impact the company’s operations.
- Competitive Landscape: Facing stiff competition from both national and international companies, Inox India must continuously innovate and maintain high standards to retain its market position.
- Environmental Challenges: The use of hazardous materials in operations poses risks of accidents and environmental impact, potentially leading to significant costs or liabilities.
Inox India IPO Verdict: Investing in Inox India IPO offers an opportunity to be part of a leading company in the cryogenic equipment industry. However, potential investors should weigh the promising prospects against the industry’s cyclicality, regulatory complexities, competitive pressures, and environmental concerns. Careful examination of the red herring prospectus and consultation with a financial advisor is recommended before making an investment decision.
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Final Thoughts on Inox India IPO Date, Price Band, GMP, Lot Size, Details and Review
Inox India IPO is a rare opportunity to invest in a leading player in the cryogenic equipment industry, which has a strong presence in India and overseas markets. The company has a diversified product portfolio, a robust order book, a loyal customer base, and a proven track record of growth and profitability.
Inox India IPO is expected to generate a lot of interest among investors, given the attractive valuation, the positive market sentiment, and the high grey market premium. If you are looking for a long-term investment with the potential for high returns, you should not miss the Inox India IPO.
However, before investing, you should also consider the risks involved, such as the cyclical nature of the industry, the regulatory uncertainties, the competitive pressures, and the environmental concerns. You should also read the red herring prospectus carefully and consult your financial advisor before making any decision.
