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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 bidding started from December 14, 2023 and ended on December 18, 2023. The allotment for Inox CVA IPO was finalized on Tuesday, December 19, 2023. The shares got listed on BSE, NSE on 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.
| IPO Date | December 14, 2023 to December 18, 2023 |
| Listing Date | December 21, 2023 |
| 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 |
| Share holding post issue | 90,763,500 |
Inox CVA IPO offers 22,110,955 shares. 4,422,191 (20.00%) to QIB, 3,316,644 (15.00%) to NII, 7,738,835 (35.00%) to RII and 6,633,285 (30.00%) to Anchor investors. 351,765 RIIs will receive minimum 22 shares and 3,589 (sNII) and 7,178 (bNII) will receive minimum 308 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 6,633,285 (30.00%) | NA |
| QIB Shares Offered | 4,422,191 (20.00%) | NA |
| NII (HNI) Shares Offered | 3,316,644 (15.00%) | |
| bNII > ₹10L | 2,211,096 (10.00%) | 7,178 |
| sNII < ₹10L | 1,105,548 (5.00%) | 3,589 |
| Retail Shares Offered | 7,738,835 (35.00%) | 351,765 |
| Total Shares Offered | 22,110,955 (100%) |
Inox CVA IPO raises Rs 437.80 crore from anchor investors. Inox CVA IPO Anchor bid date is December 13, 2023. Inox CVA IPO Anchor Investors list
| Bid Date | December 13, 2023 |
| Shares Offered | 6,633,285 |
| Anchor Portion Size (In Cr.) | 437.80 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 18, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 18, 2024 |
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 |
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 | |||
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% |
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 | ||||
The market capitalization of Inox CVA IPO is Rs 5990.39 Cr.
| KPI | Values |
|---|---|
| ROE | 27.79% |
| ROCE | 36.53% |
| RoNW | 27.79% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 16.83 | |
| P/E (x) | 39.22 | 29 |
The objectives of the Offer are to
[Dilip Davda] There are only three players in this segment and IIL is the only Indian company having niche place. It has posted good financial performance for the reported periods. It has orders worth Rs. 1036 cr. on hand indicating prospects ahead. IIL played an important role in ISRO’s Chandrayan-3 mission. Based on FY24 annualized numbers, the issue appears fully priced, and ready to prove its capabilities going forward. Investors should not miss this opportunity to invest in this dividend paying numero uno and niche player in the segment that is poised for bright prospects ahead. Read detail review...
The Inox CVA IPO is subscribed 61.28 times on December 18, 2023 6:40:00 PM. The public issue subscribed 15.30 times in the retail category, 147.80 times in the QIB category, and 53.20 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 147.80 |
| NII | 53.20 |
| bNII (bids above ₹10L) | 56.55 |
| sNII (bids below ₹10L) | 46.52 |
| Retail | 15.30 |
| Total | 61.28 |
Total Application : 4,376,302 (12.44 times)
| Listing Date | December 21, 2023 |
| BSE Script Code | 544046 |
| NSE Symbol | INOXINDIA |
| ISIN | INE616N01034 |
| Final Issue Price | ₹660 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹660.00 |
| ₹933.15 |
| ₹855.20 |
| ₹990.00 |
| ₹939.90 |
| NSE |
|---|
| ₹660.00 |
| ₹949.65 |
| ₹855.10 |
| ₹990.00 |
| ₹939.95 |
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/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: inox.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Inox CVA IPO is a main-board IPO of 22,110,955 equity shares of the face value of ₹2 aggregating up to ₹1,459.32 Crores. The issue is priced at ₹627 to ₹660 per share. The minimum order quantity is 22 Shares.
The IPO opens on December 14, 2023, and closes on December 18, 2023.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Inox CVA IPO using UPI as a payment gateway. Zerodha customers can apply in Inox CVA IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Inox CVA IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Inox CVA IPO opens on December 14, 2023 and closes on December 18, 2023.
Inox CVA IPO lot size is 22 Shares, and the minimum amount required is ₹14,520.
You can apply in Inox CVA IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Inox CVA IPO will be done on Tuesday, December 19, 2023, and the allotted shares will be credited to your demat account by Wednesday, December 20, 2023. Check the Inox CVA IPO allotment status.
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