Bookbuilding IPO | ₹1,459 Cr | Listed at BSE, NSE | Thu, Dec 14, 2023 - Mon, Dec 18, 2023
Inox India IPO is a book build issue of ₹1,459.32 crores. The issue is entirely an offer for sale of 2.21 crore shares of ₹1,459.32 crore.
Inox India IPO bidding started from Dec 14, 2023 and ended on Dec 18, 2023. The allotment for Inox India IPO was finalized on Dec 19, 2023. The shares got listed on BSE, NSE on Dec 21, 2023.
Inox India IPO price band is set at ₹660 per share. The lot size for an application is 22. The minimum amount of investment required by an retail is ₹14,520 (22 shares) (based on upper price). The lot size investment for sNII is 14 lots (308 shares), amounting to ₹2,03,280, and for bNII, it is 69 lots (1,518 shares), amounting to ₹10,01,880.
ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Inox India IPO RHP for detailed Information.
IPO Open
Thu, Dec 14, 2023
IPO Close
Mon, Dec 18, 2023
Issue Price
₹660 per share
Market Cap (Pre-IPO)
₹5,990.39 Cr
| IPO Date | 14 to 18 Dec, 2023 |
| Listed on | Thu, Dec 21, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹627 to ₹660 |
| Issue Price | ₹660 per share |
| Lot Size | 22 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,21,10,955 shares (agg. up to ₹1,459 Cr) |
| Offer for Sale | 2,21,10,955 shares of ₹2 (agg. up to ₹1,459 Cr) |
| Share Holding Pre Issue | 9,07,63,500 shares |
| Share Holding Post Issue | 9,07,63,500 shares |
| BSE Script Code / NSE Symbol | 544046 / INOXINDIA |
| ISIN | INE616N01034 |
Inox India IPO offers total 2,21,10,955 shares. Out of which 1,10,55,476 (50.00%) allocated to QIB, 44,22,191 (20.00%) allocated to QIB (Ex- Anchor), 33,16,644 (15.00%) allocated to NII 77,38,835 (35.00%) allocated to RII and 66,33,285 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,10,55,476 (50.00%) | NA |
| − Anchor Investor Shares Offered | 66,33,285 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 44,22,191 (20.00%) | NA |
| NII (HNI) Shares Offered | 33,16,644 (15.00%) | NA |
| − bNII > ₹10L | 22,11,096 (10.00%) | 7,178 |
| − sNII < ₹10L | 11,05,548 (5.00%) | 3,589 |
| Retail Shares Offered | 77,38,835 (35.00%) | 3,51,765 |
| Total Shares Offered | 2,21,10,955 (100.00%) |
Investors can bid for a minimum of 22 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 22 | ₹14,520 |
| Retail (Max) | 13 | 286 | ₹1,88,760 |
| S-HNI (Min) | 14 | 308 | ₹2,03,280 |
| S-HNI (Max) | 68 | 1,496 | ₹9,87,360 |
| B-HNI (Min) | 69 | 1,518 | ₹10,01,880 |
Inox India IPO raises ₹437.80 crore from anchor investors. Inox India IPO Anchor bid date is December 13, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Dec 13, 2023 |
| Shares Offered | 66,33,285 |
| Anchor Portion (₹ Cr.) | 437.80 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jan 18, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Mar 18, 2024 |
Incorporated in 1976, Inox India Limited manufactures and supplies cryogenic equipment.
The company's business activities comprise three divisions:
1. Industrial Gas: The division designs, manufactures and installs cryogenic tanks and systems for the storage, transportation and distribution of industrial gases, including green hydrogen and oxygen.
2. LNG: The division develops, manufactures, supplies and installs both standard and engineered equipment for LNG storage, distribution, and transportation, as well as small-scale LNG infrastructure solutions for industrial, marine and automotive applications.
3. Cryo Scientific: This division offers equipment and turnkey solutions for scientific and industrial research in the field of cryogenic distribution with a focus on technology-intensive applications.
The product portfolio includes standard cryogenic tanks and equipment, beverage kegs, bespoke technology, equipment and solutions as well as large-scale turnkey projects used in various industries such as industrial gases, liquefied natural gas ("LNG"), green hydrogen, energy, steel, medical and healthcare, chemicals and fertilisers, aviation and aerospace, pharmaceuticals and construction.
In the six months to September 30, 2023, and the financial years 2023, 2022 and 2021, the company supplied its equipment and systems to 1,255 domestic and 254 international customers in our three business segments.
The company's major customers include Air Liquide Global E&C Solutions India Private Limited, Caribbean LNG Inc, 2G Energy Inc, ISRO, Hyundai Engineering and Construction Co Ltd and many others.
As of September 2023, the company has exported products and services to 66 countries, including the United States, Saudi Arabia, the Netherlands, Brazil, Korea, the United Arab Emirates, Australia and Bangladesh.
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.
As of September 2023, the company's order book stood at Rs. 10,366.09 million.
| 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 |
| Total Income | 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 | |
| Amount in ₹ Crore | ||||
| KPI | |
|---|---|
| ROE | 27.79% |
| ROCE | 36.53% |
| RoNW | 27.79% |
| PAT Margin | 15.52% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 16.83 | |
| P/E (x) | 39.22 | 29 |
| Promoter Holding | 99.30% | 75.46% |
| Market Cap | ₹5,990.39 Cr. |
The Inox CVA IPO is subscribed 61.28 times on December 18, 2023 6:40:00 PM (Day 3). The public issue subscribed 15.3 times in the retail category, 147.8 times in the QIB category, and 53.2 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 147.8 | 44,22,191 | 65,36,16,260 |
| NII | 53.2 | 33,16,644 | 17,64,53,002 |
| bNII (bids above ₹10L) | 56.55 | 22,11,096 | 12,50,28,200 |
| sNII (bids below ₹10L) | 46.52 | 11,05,548 | 5,14,24,802 |
| Retail | 15.3 | 77,38,835 | 11,83,66,050 |
| Total | 61.28 | 1,54,77,670 | 94,84,35,312 |
Total Application : 43,76,302
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Managers fees and commissions (including any underwriting commission, brokerage and selling commission) | 3.38 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer | 0.04 |
| 3 | Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, CRTAs and CDPs | 0.40 |
| 4 | Fees payable to Registrar to the Offer | 0.15 |
| 5 | Fee payable to consultants and market research firms | 0.03 |
| 6 | Fees payable to statutory auditors | 0.07 |
| 7 | Regulatory filing fees, including SEBI, BSE and NSE fees, book building software fees, listing fees, etc. | 0.64 |
| 8 | Printing and stationery | 0.18 |
| 9 | Fee payable to legal counsels | 0.64 |
| 10 | Advertising and marketing | 0.45 |
| 11 | Miscellaneous | 0.16 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹660.00 | ₹660.00 |
| Open | ₹933.15 | ₹949.65 |
| Low | ₹855.20 | ₹855.10 |
| High | ₹990.00 | ₹990.00 |
| Last Trade | ₹939.90 | ₹939.95 |
Lead Manager Reports
Inox India IPO is a main-board IPO of 2,21,10,955 equity shares of the face value of ₹2 aggregating up to ₹1,459 Crores. The issue is priced at ₹660 per share. The minimum order quantity is 22.
The IPO opens on Thu, Dec 14, 2023, and closes on Mon, Dec 18, 2023.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Inox India IPO using UPI as a payment gateway. Zerodha customers can apply in Inox India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Inox India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Inox India IPO opens on Thu, Dec 14, 2023 and closes on Mon, Dec 18, 2023.
Inox India IPO lot size is 22, and the minimum amount required for application is ₹14,520.
You can apply in Inox India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Inox India IPO will be done on Tuesday, December 19, 2023, and the allotted shares will be credited to your demat account by Wed, Dec 20, 2023. Check the Inox India IPO allotment status.
The Inox India IPO listing date is on Thu, Dec 21, 2023.
