December 21, 2023
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Inox India IPO GMP, Details to watch, Guidance & Subscription Status @ Chanakyanipothi.com
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Table of Contents
- GMP
- Reviews
- Subscription
- Allotment
Inox India IPO Post Listing Review
On 21 December, the scrip got listed at Rs. 949.65, at a premium of 43.89%. The listing is much below the grey market expectations.
Inox India Anchor Investors
Subscription to Anchor portion is expected to open on 12 December 2023
What was the latest GMP of Inox India IPO?
Premium: Rs.440 
R- Application Rs. 500
R-Subject to Rs. 8200
Rs 10 L Application Rs. 7400
BHNI Subject to Rs. 103600
What is the Subscription Status of Inox India IPO?
On 18 December 2023 5.00 pm (Day 3) (Closed)
Review: Bumper oversubscription expected.
QIB: 4422191 Shares 147.80 T
NII(10L+): 2211096 Shares 56.55 T
NII (<10L) 1105548 Shares 46.46 T
NII (Total) 3316644 Shares 53.19 T
RII: 7738835 Shares 15.24 T
Total: 15477670 Shares 61.25 T
Who are the promoters of Inox India IPO?
PAVAN KUMAR JAIN, NAYANTARA JAIN, SIDDHARTH JAINAND ISHITA JAININITIAL
What is the business of Inox India?
Inox India is a prominent manufacturer of cryogenic equipment and were one of the leading cryogenic tank manufacturers in the world by revenues in 2021. It has over 30 years of experience offering solutions across design, engineering, manufacturing and installation of equipment and systems for cryogenic conditions.
Its offering includes standard cryogenic tanks and equipment, beverage kegs, bespoke technology, equipment and solutions as well as large turnkey projects which are used in diverse industries such as industrial gases, liquified natural gas (“LNG”), green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals and construction.
In addition, it manufactures a range of cryogenic equipment utilised in global scientific research projects. It also is the largest exporter of cryogenic tanks from India in terms of revenue in Fiscal 2022. The demand for cryogenic equipment across geographies is expected to be driven by the increased demand for cleaner fuels such as LNG and hydrogen due to the global focus on reducing carbon emissions from conventional energy sources. It is well positioned to capture this global market growth with our in-house technology as well as its LNG product range that includes the entire value chain. In hydrogen, its engineering teams are developing products and systems in complex industry environments like hydrogen storage, transportation and distribution to address the need for large scale movements of liquid hydrogen. It was the first Indian company to manufacture a trailer mounted hydrogen transport tank, which was designed jointly with the Indian Space Research Organisation (“ISRO”).
Its business is comprised of three divisions:
1.Industrial Gas
2.LNG:
3.Cryo Scientific
It has a diversified customer base across industry sectors and geographies. In Fiscal 2023, Fiscal 2022 and Fiscal 2021, it provided its equipment and systems to 1,201 domestic customers and 228 international customers across its three divisions. It has a history of high customer retention.
Inox India has three manufacturing facilities located at (i) Kalol in Gujarat, (ii) the Kandla Special Economic Zone (“Kandla SEZ”) in Gujarat and (iii) Silvassa in the Union Territory of DadraandNagar Haveli. In Fiscal 2023, Fiscal 2022 and Fiscal 2021, its installed capacity of cryogenic tanks and related items was 3,100, 3,100 and 2,200 Equivalent Tank Units (which are cryogenic storage tanks of 10,000 litres), respectively,and 2.4 million, 2.4 million and 1.4 million disposable cylinders, respectively.
For more information, click www.inoxcva.com
What is the Object of Inox India IPO?
The Offer comprises only of the Offer for Sale
The objects of the Offer are to
(i)carry out the Offer for Sale of up to 22,110,955 Equity Shares by the Selling Shareholders; and (ii)achieve the benefits of listing the Equity Shares on the Stock Exchanges.
Inox India IPO GMP, Particulars & Guidance
| Inox India IPO Details | |
| IPO opens on | 14 December,2023 |
| IPO closes on | 18 December,2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 22,110,955 Sh / Rs 1459.32 Cr |
| * Fresh Issue | – Sh /Rs – Cr |
| * Offer for Sale | 22,110,955 Sh / Rs 1459.32 Cr |
| Employee Reservation | Rs – Cr. |
| Face Value per share: | Rs. 2 |
| Price Band | Rs. 627-660 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 22 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Inox India? | Shares | Rs. in Cr |
| QIB (50 %) | 11055477 | 729.66 |
| NII (15 %) | 3316643 | 218.89 |
| RII (35 %) | 7738834 | 510.76 |
| Employees | – | – |
| Total Shares | 22110955 | 1459.32 |
| Retail portion will be oversubscribed by | 351765 Forms. | |
| How to apply in Inox India IPO ? | Amount Rs. | |
| Min Retail Application | 22 Sh | 14520 |
| Max Retail Application | 286 Sh | 188760 |
| Small HNI (Min) application | 308 Sh | 203380 |
| Small HNI (Max) application | 1496 Sh | 987360 |
| Big HNI Application | 1518 Sh | 1001880 |
| What is the timetable of Inox India IPO? | |
| IPO opens on | 14 December 2023 |
| IPO Closes on | 18 December 2023 |
| IPO Allotment on | 19 December 2023 |
| Unblocking of ASBA | 20 December 2023 |
| Credit of Shares | 20 December 2023 |
| Listing on | 21 December 2023 |
| Registered Office of Inox India | |
| 9thFloor, K P Platina, Racecourse, Vadodara –390007, Gujarat, India | |
| Who are the Lead Managers of Inox India IPO? ICICI Securities Limited Axis Capital Limited |
|
| Registrar to IPO | |
| KFin Technologies Limited |
| Inox India IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 608.99 | 96.11 | 10.59 | 25.87 |
| 2021-22 | 803.71 | 130.50 | 14.38 | 25.98 |
| 2022-23 | 984.20 | 152.71 | 16.83 | 27.79 |
| Book Value of the Share on 31.03.2023 | Rs. | 60.54 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 660 | ||
| Inox India IPO Ratio Analysis |
|
| Price /EPS | 39.21 |
| Price/Book Value Ratio | 10.90 |
| Price/BV after IPO | ? |
How Inox India IPO compares with the Peers?
Peer Comparison.
There are no listed companies in India that engage in a business similar to that of this Company. Accordingly, it is not possible to provide an industry comparison in relation to the Company.
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Inox India IPO Guidance
Excellent and growing business!! Inox India is a prominent manufacturer of cryogenic equipment and were one of the leading cryogenic tank manufacturers in the world by revenues in 2021. Its offering includes standard cryogenic tanks and equipment, beverage kegs, bespoke technology, equipment and solutions as well as large turnkey projects which are used in diverse industries such as industrial gases, liquified natural gas (“LNG”), green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals and construction.
There is no peer listed company. Business from green Hydrogen is expected to expand exponentially. Valuation is very reasonable and attractive. IPO is expected to be hit. Apply with full force.
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