Inox India Ltd IPO
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Inox India Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 221.11 L | ₹ 221.11 L | ₹ 77.39 L | ₹ 830.58 L | BSE | ₹ 1459.32 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 14 Dec, 23 | 18 Dec, 23 | 22 | ₹ 13,794 | Book Building | 21 Dec, 23 |
Inox India Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Packaging |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 59.12x | 11055478 | 653616260 |
| NII | 53.2x | 3316643 | 176453002 |
| Retail | 15.3x | 7738834 | 118366050 |
| Employee | 0x | 0 | 0 |
| Total | 42.89x | 22110955 | 948435312 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Inox India Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 262.55 | 221.52 | 184.14 |
| EBITDA | 279.47 | 234.62 | 195.62 |
| PAT | 186.13 | 156.23 | 128.32 |
| Total Assets | 668.00 | 689.90 | 422.55 |
| Share Capital | 18.15 | 18.15 | 18.15 |
| Total Borrowings | 77.91 | 97.99 | 61.99 |
| Operating Activities (Net Cash) | 203.05 | 169.33 | 139.80 |
| Investing Activities (Net Cash) | 286.35 | 293.13 | 354.28 |
| Financing Activities (Net Cash) | 77.91 | 97.99 | 61.99 |
| Net Cashflow | 7.36 | 54.78 | 8.04 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Inox India Ltd
INOX India Limited was originally incorporated as a public limited company under the Companies Act, 1956 with the name Baroda Oxygen Limited at Gujarat, pursuant to a certificate of incorporation dated December 21, 1976, issued by the RoC and received a certificate of commencement of business from the RoC on April 18, 1979. Subsequently, the name of the Company was changed from Baroda Oxygen Limited to INOX India Limited, pursuant to a fresh certificate of incorporation issued by the RoC, recording the change in name on March 23, 1987. Further, the name of the company was changed from INOX India Limited to INOX India Private Limited, upon conversion into a private limited company, and a certificate of incorporation dated May 22, 2015, was issued by the RoC. The name of the Company was subsequently changed to INOX India Limited, upon re-conversion into a public limited company, pursuant to a resolution passed by its Board on May 23, 2022, and a resolution passed by its Shareholders on June 15, 2022. A fresh certificate of incorporation dated July 14, 2022 was issued by the RoC consequent to the reconversion of our Company into a public limited company.
The global cryogenic equipment market was valued at $11.5 billion in 2022, and global cryogenic equipment demand is projected to grow at a 6.9% CAGR from 2023 to reach $16.6 billion by 2028. According to CRISIL Research, the demand for cleaner fuels such as liquified natural gas and hydrogen due to focus on reducing carbon emissions from conventional energy sources will drive the uptake of cryogenic equipment across geographies. At the global level, the top nine companies accounted for approximately 35-48% of the cryogenic equipment market in CY 2022. The Company is amongst the top 10 cryogenic equipment manufacturers in the world by revenue in CY 2022.
Inox India Limited is the largest supplier of cryogenic equipment in India by revenue in Fiscal 2023. The Company 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, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals and construction.
Peer Comparison:
- No Listed Industry Peers
Inox India Ltd IPO Key Points
Strengths
- Leading Indian supplier and exporter of cryogenic equipment and equipment: exports constituted 62.18% and 45.83% of its revenues from operations in the six months ended September 30, 2023 and in Fiscal 2023.
- Large portfolio of specialized cryogenic equipment engineered to global quality standards: Installed Capacity of 3,100 Equivalent Tank Units (which are cryogenic storage tanks of 10,000 litres), 2.4 million disposable cylinders, 14 certifications from United States, Europe, Australia and other international markets.
- Diversified domestic and international customer base across industry sectors: 1,201 domestic customers and over 228 international customers.
- Strong product development and engineering focus: 419 engineers, appoint scientists of varied experience and expertise at our R&D facility.
- Healthy financial performance to support growth.
Risk
- The company's business is dependent and will continue to depend on its three manufacturing facilities. The company is subject to certain risks in its manufacturing processes such as the breakdown or failure of equipment and industrial accidents that could lead to interruptions in its business operations, which may, in turn, adversely affect its production schedules, costs and sales and its ability to meet customer demand.
- 11.56% and 46.52% of revenue from operation was derived from its 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 its business, results of operations and financial condition.
- An increase in its component or raw material costs, or other input costs, may adversely affect the pricing and supply of its products and have an adverse effect on its business, results of operations and financial condition.
Strategy
- Capitalize on opportunities in LNG and hydrogen as part of the global clean energy transition.
- Capture the full value-chain across its product lines.
- Expanding its standard cryogenic and non-cryogenic equipment business into international markets.
- Expanding its large turnkey project business.
- Continue to improve operational efficiency and productivity.
- Leading Indian supplier and exporter of cryogenic equipment and equipment: exports constituted 62.18% and 45.83% of its revenues from operations in the six months ended September 30, 2023 and in Fiscal 2023.
- Large portfolio of specialized cryogenic equipment engineered to global quality standards: Installed Capacity of 3,100 Equivalent Tank Units (which are cryogenic storage tanks of 10,000 litres), 2.4 million disposable cylinders, 14 certifications from United States, Europe, Australia and other international markets.
- Diversified domestic and international customer base across industry sectors: 1,201 domestic customers and over 228 international customers.
- Strong product development and engineering focus: 419 engineers, appoint scientists of varied experience and expertise at our R&D facility.
- Healthy financial performance to support growth.
How To Apply for Inox India Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.