Inox India IPO: All You Need To Know

Inox India will launch its initial public offering on Dec 14. The IPO issue will close on Dec 18.

IPO comprises a offer for sales of 2.21 crore shares, amounting to up to Rs Rs 1459.3 crore. The company does not have any fresh issue

Issue Details

Issue Opens: Dec. 14

Issue Closes: Dec 18

OFS Size: Rs 1,459.3 crore

Total Issue Size: Rs 1,459.3 crore

Price Band: 627-660 apiece

Lot Size: 22 shares

Face Value: Rs 2 per share

Listing: BSE, NSE

Business

Company is the largest supplier of cryogenic equipment in India

Company's business comprises of three divisions:

• Industrial Gas: This division manufactures, supplies and installs cryogenic tanks and systems for storage,transportation and distribution of industrial gases like such as green hydrogen, oxygen, nitrogen, argon,carbon dioxide (CO2), hydrogen and provides after-sales services.

• LNG: This division manufactures, supplies and installs standard and engineered equipment for LNG storage, distribution and transportation as well as small-scale LNG infrastructure solutions suitable for industrial, marine and automotive applications; and

• Cryo Scientific: This division provides equipment for technology intensive applications and turnkey solutions for scientific and industrial research involving cryogenic distribution

Risks

• Business is dependent and will continue to depend on three manufacturing facilities. breakdown or failure of equipment and industrial accidents that could lead to interruptions in business operations, which may, in turn, adversely affect production schedules, costs and sales.

• 11.56% and 46.52% of revenue from operation was derived from largest customer and top 10 customers, respectively, for Fiscal 2023. Cancellation by customers or delay or reduction in their orders could have a material adverse effect on the business.

• An increase in component or raw material costs, or other input costs, may adversely affect the pricing and supply of the products

• The markets that company serve are subject to cyclical demand and vulnerable to economic downturn, which could harm company's business and make it difficult to project long-term performance.

• Business operations are subject to environmental and workers’ health and safety laws and regulations. Failure to comply with such regulations could lead to enforced shutdowns and other sanctions imposed by the relevant authorities

• Business is concentrated on the Industrial Gas sector. Any factors leading to a decline in the Industrial Gas sector could materially and adversely affect business,