INOX India Ltd IPO: Open/Close Date, Price, Lot Size, Allotment, Subscription

Q: What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot is 22 shares.

IPO Details

Bidding Dates

13 Dec '23 - 17 Dec '23

Minimum Investment

₹14,520 / 1 Lots ( 22 Shares )

Price Range

₹627 - ₹660

Maximum Investment

₹188,760 / 13 Lots ( 286 Shares )

Retail Discount

Not Applicable

Issue Size

₹1459.32 Cr

Investor category and sub category

Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Dec 13, 2023

IPO Closing Date

Dec 17, 2023

Basis of Allotment

Dec 18, 2023

Initiation of Refunds

Dec 19, 2023

Credit of Shares to Demat Account

Dec 19, 2023

IPO Listing Date

Dec 20, 2023

UPI Mandate Expiry Date

Dec 17, 2023

IPO Subscription Details

Date	QIB	NII	Retail	Total
Day 1Dec 13, 2023	0.04x	4.60x	3.72x	2.86x
Day 2Dec 14, 2023	0.17x	13.75x	8.22x	7.11x
Day 3Dec 17, 2023	147.80x	53.20x	15.29x	61.28x

IPO Subscription Live Status

Investor Category	Subscription (Times)
Qualified Institutions Buyers	147.80
Non-Institutional Buyers	53.20
Retail Investors	15.29
Total	61.28

About Company

Incorporated in 1976, Inox India Limited is engaged in the manufacturing of cryogenic equipment. The company has over 30 years of experience in designing, engineering, manufacturing, and installing equipment and systems for cryogenic conditions.

The company conducts business activities via 3 divisions: Industrial Gas, Liquified Natural Gas (LNG), and the Cryo Scientific division. The industrial division manufactures and installs cryogenic tanks for the storage of industrial gases like green hydrogen, oxygen, etc. The LNG division manufactures and supplies LNG storage and distribution solutions. The cryo-scientific division provides solutions for research involving cryogenic distribution. The company derived the majority of revenue from the Industrial Gas division at around 70.88%, followed by 24.89% from LNG and the remaining 4.23% from the Cryo Scientific division in FY 2023.

The company believes that the global cryogenic equipment demand is expected to grow at a CAGR of 6.8% in 2022-2027. The global focus on reducing carbon emissions from conventional energy sources has resulted in higher demand for cleaner fuels, such as LNG and hydrogen. In addition, this is likely to increase the uptake of cryogenic equipment across geographies.

Inox India Ltd IPO Details

Inox India Ltd IPO Date

The dates for bidding for the Inox India IPO are Thursday, December 14, 2023, to Monday, December 18, 2023.

Inox India Ltd IPO Price Band

Inox India is a book-built IPO. The price range are ₹627 to ₹660.

Inox India Ltd IPO Lot Size

The Inox India Ltd IPO lot size is 22 shares.

Inox India Ltd IPO Objectives

This IPO is purely an offer for sale, so the proceeds of the IPO will not be received by the company.

Peer Details

There are no listed companies in India that engage in a business similar to Inox India.

How To Check the Allotment Status of the Inox India Ltd IPO?

A: Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app.
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Inox India Ltd

Registered office: 9th Floor, K P Platina, Racecourse, Vadodara - 390 007, Gujarat, India

Phone: +91 265 6160100

E-mail: secretarial.in@inoxcva.com

Company Financials

Particulars ₹ in millions)	Year Ending on March 31, 2023	Year ending on March 31, 2022	Year ending on March 31, 2021
Total Income	9,841.99	8,037.13	6,089.92
Profit After Tax (PAT)	1,527.14	1,527.14	961.07
Total Assets	36.83%	31.27%	31.01%
Total Borrowings	27.89	30.56	1.69
Current Ratio	1.67	1.99	1.77

Know before investing

Strengths

The company offers a large portfolio of specialised cryogenic equipment engineered to global quality standards. The demand for the company’s product is increasing as cleaner fuel will likely witness growth soon.
The company earns revenue from the diversified domestic and international customer base across industry sectors.
The company will focus on expanding its standard cryogenic and non-cryogenic equipment business into international markets.

Risks

The manufacturing is done entirely out of only 3 facilities, two in Gujarat and one in the nearby union territory of Dadra and Nagar Haveli and Daman and Diu. Any social or economic disturbance in the region may hamper the company’s supply chain.
The company operates a highly capital-intensive business, which requires ample funds to run its operations smoothly. Any disruption in the sources of financing may harm its operational and financial performance.
Production and storage of cryogenic gases is a risky process. Their leakage poses health hazards and risks as prolonged exposure to cryogen can cause frostbite and damage to the lungs. Secondly, discharge of the cryogen into an enclosed area can lead to oxygen deficiency in the area too. Hence, any operational failures can have a long-lasting impact on the company’s brand.