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Inox India IPO – Everything You Must Know about IPO Price, Date & GMP

The initial public offering (IPO) price band for INOX India is ₹627 to ₹660 per equity share, with a face value of ₹2. The subscription period for the INOX India IPO is set to begin on Thursday, December 14, and end on Monday, December 18. On Wednesday, December 13, the INOX IPO’s allocation to anchor investors is expected to happen.

The equity shares’ face value is tripled by the floor price (313.5) and the cap price (330 times) respectively. For the company’s fiscal year 2023, the price-to-earnings ratio at the floor price is 37.25 times, and at the cap price, it is 39.22 times based on diluted EPS. The 22 equity shares in the INOX India IPO lot size are followed by multiples of 22 equity shares.

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Not less than 15% of the shares in the public offering of INOX India are designated for non-institutional institutional investors (NII), not less than 50% of the shares are reserved for qualified institutional buyers (QIB), and not less than 35% of the offer is designated for retail investors.

The INOX India IPO basis for share allotment is tentatively scheduled to be finalized on Tuesday, December 19. The company will then start processing refunds on Wednesday, December 20, and the shares will be credited to the allottees’ demat accounts the same day as the refund. On Thursday, December 21, shares of the INOX India IPO are probably going to be listed on the BSE and NSE. As of December 1, 2023, T+3 listing is required. Accordingly, INOX India IPO will list on primary markets this month.

Inox CVA IPO Timeline (Tentative Schedule)

The Inox IPO opens on December 14, 2023, and closes on December 18, 2023.

IPO Open DateThursday, December 14, 2023
IPO Close DateMonday, December 18, 2023
Basis of AllotmentTuesday, December 19, 2023
Initiation of RefundsWednesday, December 20, 2023
Credit of Shares to DematWednesday, December 20, 2023
Listing DateThursday, December 21, 2023
Cut-off time for UPI mandate confirmation5 PM on December 18, 2023
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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.

ApplicationLotsSharesAmount
Retail (Min)122₹14,520
Retail (Max)13286₹188,760
S-HNI (Min)14308₹203,280
S-HNI (Max)681,496₹987,360
B-HNI (Min)691,518₹1,001,880

INOX India IPO details

The promoter and other selling shareholders, together with up to 22,110,955 equity shares with a face value of ₹2, will be offered for sale as part of the company’s initial public offerings (IPOs) in order to raise capital.

As per the red herring prospectus (RHP), the promoters are Pavan Kumar Jain, Nayantara Jain, Siddharth Jain, and Ishita Jain. The selling shareholders include Siddharth Jain (up to 10,437,355 equity shares), Pavan Kumar Jain (up to 5,000,000 equity shares), Nayantara Jain (up to 5,000,000 equity shares), Ishita Jain (up to 1,200,000 equity shares), and Manju Jain (up to 230,000 equity shares). 

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The company’s promoter and non-executive director, Siddharth Jain, stated, “Our balance sheet is extremely healthy. We have no debt. We have cash of about 220 crores. All of our capital expenditures, including the need for working capital, have been paid for internally. We are not in need of any capital for the company at this time, which is the main driver behind this IPO and OFS. We do, however, desire visibility. And as you can see, since exports are a fundamental part of our plan, becoming a publicly traded company will undoubtedly aid us in our efforts to increase our market share in the cryogenics sector of the global economy.

We manufacture equipment, and the main reason people buy it is for capital expenditures. Additionally, when purchasing equipment for capital expenditures, one must be extremely certain of the brand and quality of the item. Thus, this will undoubtedly assist us in achieving that. I know that we have reached the 30-year mark. At thirty years old, we are also experiencing a sense of maturation. We’ve established a solid reputation. We have excellent quality. We believed that the time was right to shift to clean energy and increase our global market share, and since we had healthy margins, listing was crucial to achieving that first boost in visibility.”

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The INOX IPO’s book-running lead managers (BRLM) are Axis Capital Limited and ICICI Securities Limited. KFin Technologies Limited is the registrar of the INOX initial public offering.

The Securities and Exchange Board of India (SEBI) approved INOX India Limited, the promoter of the well-known brand INOXCVA, for their initial public offering (IPO) last week. Cryogenic equipment manufacturer INOX India filed a draft red herring prospectus (DRHP) to SEBI in August.

For more than 30 years, INOX India Limited has been offering solutions in the design, engineering, manufacturing, and installation of cryogenic equipment and systems. It has created the renowned brand INOXCVA in the cryogenic equipment industry.

Comparing FY23 to FY22, the company’s net profit increased by 17% to ₹152.71 crore from ₹130.5 crore. At the same time, its revenues increased by 23.4% from ₹782.71 crore in FY22 to ₹965.9 crore in FY23. The EBITDA margin did, however, decrease from 23.47% in FY22 to 22.62% in FY23. As of March 31st, the total debt was ₹8.99 crore, down from ₹54.54 crore the year before.

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INOX India IPO GMP today

Inox India IPO last GMP is ₹375, last updated Dec 13th 2023 04:28 PM. With the price band of 660.00, Inox India IPO’s estimated listing price is ₹1035 (cap price + today’s GMP).The expected percentage gain/loss per share is 56.82%.

A “grey market premium” denotes the willingness of investors to part with more money than the issue price.

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