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.
Incorporated in 1976, Inox India Limited manufactures and supplies cryogenic equipment.
The company’s business activities comprise three divisions:
1. Industrial Gas: The division designs, manufactures and installs cryogenic tanks and systems for the storage, transportation and distribution of industrial gases, including green hydrogen and oxygen.
2. LNG: The division develops, manufactures, supplies and installs both standard and engineered equipment for LNG storage, distribution, and transportation, as well as small-scale LNG infrastructure solutions for industrial, marine and automotive applications.
3. Cryo Scientific: This division offers equipment and turnkey solutions for scientific and industrial research in the field of cryogenic distribution with a focus on technology-intensive applications.
The product portfolio includes standard cryogenic tanks and equipment, beverage kegs, bespoke technology, equipment and solutions as well as large-scale turnkey projects used in various industries such as industrial gases, liquefied natural gas (“LNG”), green hydrogen, energy, steel, medical and healthcare, chemicals and fertilisers, aviation and aerospace, pharmaceuticals and construction.
In the six months to September 30, 2023, and the financial years 2023, 2022 and 2021, the company supplied its equipment and systems to 1,255 domestic and 254 international customers in our three business segments.
The company’s major customers include Air Liquide Global E&C Solutions India Private Limited, Caribbean LNG Inc, 2G Energy Inc, ISRO, Hyundai Engineering and Construction Co Ltd and many others.
As of September 2023, the company has exported products and services to 66 countries, including the United States, Saudi Arabia, the Netherlands, Brazil, Korea, the United Arab Emirates, Australia and Bangladesh.
The company’s manufacturing facilities are located 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 stood at Rs. 10,366.09 million.
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 | ||||
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% |
The objectives of the Offer are to
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 |
As per our analysis and Based on the information we have, this is the output.
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