INOX India (CVA) – IPO Details, Timeline, Financials
Inox CVA IPO: Subscription Details, Price Band, and Timeline
The Inox CVA IPO, a book-built issue of Rs 1,459.32 crores, is set to open for subscription on December 14, 2023, and will close on December 18, 2023. Here are the key details you need to know:
- Issue Size: Rs 1,459.32 crores
- Offer for Sale: 2.21 crore shares
- Price Band: ₹627 to ₹660 per share
- Lot Size: 22 Shares
- Minimum Investment (Retail): ₹14,520
- Listing Date: Thursday, December 21, 2023
The Inox CVA IPO has a total issue size of 22,110,955 shares, with a face value of ₹2 per share. The IPO is a book-built issue and will be listed on both BSE and NSE. The shareholding pre-issue stands at 90,763,500.
Reservation Details:
- QIB Shares Offered: Not more than 50% of the Net Issue
- Retail Shares Offered: Not less than 35% of the Net Issue
- NII (HNI) Shares Offered: Not less than 15% of the Net Issue
Important 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
Inox CVA IPO: Lot Size, Promoter Holding, and Company Overview
Inox CVA IPO Lot Size:
Investors can bid for a minimum of 22 shares and in multiples thereof. The table below outlines the minimum and maximum investment by retail investors and HNI in terms of shares and amount:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| 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 |
Inox CVA IPO Promoter Holding:
The promoters of the company are Pavan Kumar Jain, Nayantara Jain, Siddharth Jain, and Ishita Jain. The shareholding pre-issue is 99.30%, and post-issue, it is 75.46%.
About Inox India Limited:
Incorporated in 1976, Inox India Limited is a leading manufacturer of cryogenic equipment with three key divisions:
- Industrial Gas: Designing, manufacturing, and installing cryogenic tanks and systems.
- LNG: Developing, supplying, and installing equipment for LNG storage, distribution, and transportation.
- Cryo Scientific: Providing equipment and turnkey solutions for cryogenic distribution in scientific and industrial research.
As of September 2023, the company has exported products and services to 66 countries and maintains a robust order book of Rs. 10,366.09 million.
Inox India Limited Financial Information (Restated Consolidated):
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets (₹ Crore) | 1,155.81 | 1,148.36 | 896.75 | 687.20 |
| Revenue (₹ Crore) | 580.00 | 984.20 | 803.71 | 608.99 |
| Profit After Tax (₹ Crore) | 103.34 | 152.71 | 130.50 | 96.11 |
| Net Worth (₹ Crore) | 554.24 | 549.48 | 502.28 | 371.51 |
Key Performance Indicators:
- P/E (x): 39.22
- Market Cap (₹ Cr.): 5990.39
- ROE: 27.79%
- ROCE: 36.53%
- EPS (Rs): 16.83
- RoNW: 27.79%
Objects of the Issue (Inox CVA IPO Objectives):
The objectives of the Offer are to:
- Carry out the Offer for Sale of up to 22,110,955 Equity Shares by the Selling Shareholders.
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges.
The company expects that the proposed listing will enhance visibility, brand image, and provide a public market for the Equity Shares in India.
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