In a significant development, Inox India, known for manufacturing cryogenic storage tanks, has established the price band for its upcoming IPO at Rs 627-660 per share. The company aspires to raise a substantial Rs 1,459.32 crore through this public issue at the upper price band. Let us have a look at the INOX India IPO details like price band, INOX IPO listing date and more.
Inox Green Energy Services Limited IPO: Key Highlights
· Inox Green Energy sets the IPO price band at Rs 627-660 per share for the public offering.
· Aiming to raise Rs 1,459.32 crore through the offer-for-sale of 2.21 crore equity shares at the upper price band.
· IPO opens for subscription on December 14 and closes on December 18; anchor book opens on December 13.
· Robust financials reported, with a 17% YoY growth in net profit and a 23.4% increase in revenue for the year ended March FY23. In the six-month period ending September FY24, net profit surged 23.9%, and revenue jumped 16% YoY.
· ICICI Securities and Axis Capital appointed as book-running lead managers for overseeing market dynamics and the subscription process.
About INOX India Pvt Ltd.
INOX India is a leading manufacturer of cryogenic storage and transport solutions, serving various industries such as industrial gases, LNG, hydrogen, and cryo-scientific applications. The company is part of the INOX Group, which also operates in the sectors of industrial gases, movies, and renewable energy.
Some of the company’s products include cryogenic tanks, vaporizers, valves, pumps, trailers, and turnkey solutions. The company’s vision is to be the world leader in cryogenic engineering.
INOX India IPO- Selling Shareholders and Allocation
Promoters Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, Ishita Jain, and others, including Manju Jain, Lata Rungta, Bharti Shah, Kumud Gangwal, Suman Ajmera, and Rajni Mohatta, are selling shareholders in the offer-for-sale. The entire IPO proceeds will go to these selling shareholders, with no funds directed to the company.
IPO Reservation and Investment Limits
The IMOX India IPO has reserved 50% for qualified institutional buyers, 15% for high net-worth individuals, and 35% for retail investors. Retail investors can invest a minimum of Rs 14,520 for 22 shares and a maximum of Rs 1,88,760 for 286 shares, ensuring they stay within the Rs 2 lakh investment limit.
IMOX India PVT Ltd. Financial Performance
On the financial front, Inox India recorded a 17% YoY growth in net profit at Rs 152.7 crore for the year ended March FY23. Revenue during the same period increased by 23.4% to Rs 966 crore. In the six-month period ending September FY24, net profit surged 23.9% to Rs 103.3 crore, and revenue jumped 16% YoY to Rs 564.6 crore.
Book Running Lead Managers
ICICI Securities and Axis Capital are the appointed book-running lead managers for the Inox India IPO, overseeing the subscription process and market dynamics.
Conclusion
As Inox India sets its IPO price band at Rs 627-660 per share and aims to raise Rs 1,459.32 crore, investors can explore this opportunity to invest in a leading cryogenic storage tank manufacturer.
Now, save a little extra on your stock market investments in the form of zero brokerage.
With robust financial performance and a well-structured offering, the INOX India IPO presents potential for strategic investment.
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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.