Inox CVA IPO is a book built issue of Rs 1,459.32 crores. The issue is entirely an offer for sale of 2.21 crore shares.
Inox CVA IPO opens for subscription on December 14, 2023 and closes on December 18, 2023. The allotment for the Inox CVA IPO is expected to be finalized on Tuesday, December 19, 2023. Inox CVA IPO will list on BSE, NSE with tentative listing date fixed as Thursday, December 21, 2023.
Inox CVA IPO price band is set at ₹627 to ₹660 per share. The minimum lot size for an application is 22 Shares. The minimum amount of investment required by retail investors is ₹14,520. The minimum lot size investment for sNII is 14 lots (308 shares), amounting to ₹203,280, and for bNII, it is 69 lots (1,518 shares), amounting to ₹1,001,880.
ICICI Securities Limited and Axis Capital Limited are the book running lead managers of the Inox CVA IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Inox CVA IPO RHP for detailed information.
Inox CVA IPO Details
| IPO Date | December 14, 2023 to December 18, 2023 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹627 to ₹660 per share |
| Lot Size | 22 Shares |
| Total Issue Size | 22,110,955 shares (aggregating up to ₹1,459.32 Cr) |
| Offer for Sale | 22,110,955 shares of ₹2 (aggregating up to ₹1,459.32 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 90,763,500 |
Inox CVA IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| 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 |
Inox CVA IPO Timeline (Tentative Schedule)
Inox CVA IPO opens on December 14, 2023, and closes on December 18, 2023.
| 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
Investors can bid for a minimum of 22 shares and in multiples thereof. The below table depicts 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 |
| Lot Size Calculator |
Inox CVA IPO Promoter Holding
The Promoters of the company are Pavan Kumar Jain, Nayantara Jain, Siddharth Jain and Ishita Jain
| Share Holding Pre Issue | 99.30% |
| Share Holding Post Issue | 75.46% |
About Inox India Limited
Incorporated in December 1976, Inox India Limited is a supplier of cryogenic equipment. The company provides end-to-end solutions for equipment and systems operating in cryogenic conditions, including design, engineering, manufacturing, and installation. The company provides a wide range of products and services, including cryogenic tanks and equipment, beverage kegs, customized technology, equipment and solutions, as well as comprehensive turnkey projects. These products and services cater to a variety of industries such as industrial gases, liquefied natural gas (“LNG”), green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals and construction.
The customer base of the company includes;Air Liquide Global E&C Solutions India Private Limited, All Safe Global, Baif Development Research Foundation, CRYONiQ s.r.o., Gulf Cryo LLC, Hyundai Engineering and Construction Co Ltd, INOX Air Product Pvt Ltd, Carbacid (CO2) Limited, Navin Flourine International Ltd, National Refrigerants Inc, Pentrade Global LLC, Prodair Air Products India Pvt Ltd, SK ecoengineering Co. Ltd, StemCyte India Therapeutics Pvt Ltd, Synergy Gases ( K ) Ltd in Industrial Gas Division and Caribbean LNG Inc, 2G Energy Inc, AGP City Gas Pvt Ltd, H-Energy Gateway Pvt. Ltd., Hoglund Gas Solutions AS, IRM Energy Limited, Saint Gobain India Private Limited, Shell Energy India Private Limited; Think Gas Distribution Private Limited, Ultra Gas & Energy Limited in LNG Division.
By September 2023, the company had exported products and delivered services to 66 countries, including the United States, Saudi Arabia, the Netherlands, Brazil, Korea, United Arab Emirates, Australia, and Bangladesh.
The manufacturing facilities are 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 comprises of ₹10,366.09 million.
Inox India Limited Financial Information (Restated Consolidated)
Inox India Limited’s revenue increased by 22.46% and profit after tax (PAT) rose by 17.02% between the financial year ending with March 31, 2023 and March 31, 2022.
| 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 |
| Revenue | 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 |
| Reserves and Surplus | ||||
| Total Borrowing | 31.03 | 43.38 | 60.37 | |
| Amount in ₹ Crore |
Key Performance Indicator
Inox CVA IPO Market Cap is Rs 5990.39 Cr and P/E (x) is 39.22.
| KPI | Values |
|---|---|
| P/E (x) | 39.22 |
| Market Cap (₹ Cr.) | 5990.39 |
| ROE | 27.79% |
| ROCE | 36.53% |
| EPS (Rs) | 16.83 |
| RoNW | 27.79% |
Check Inox CVA IPO Peer Comparison here.
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; and
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges. Further, the Company expects that the proposed listing of its Equity Shares will enhance the visibility and brand image as well as provide a public market for the Equity Shares in India. The Selling Shareholders will be entitled to the entire Offer proceeds after deducting the Offer expenses and relevant taxes.
Inox India Limited Contact Details
Inox India Limited
9 th Floor, K P Platina
Racecourse
Vadodara – 390 007
Phone: +91 265 6160100
Email: secretarial.in@inoxcva.com
Website: https://inoxcva.com/
Inox CVA IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: inox.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/