December 11, 2023
New Delhi, India
Inox India IPO Price Range And Date
Inox India, a prominent cryogenic equipment manufacturer, is gearing up for its upcoming Initial Public Offering (IPO) scheduled to open on December 14. Investors are keenly watching as the company, known for its diverse applications in industrial gases, LNG, green hydrogen, energy, and steel, enters the market. Here’s a breakdown of the key details and considerations for potential investors.
IPO Offering Details
The IPO consists solely of an offer-for-sale of 2.21 crore shares by existing shareholders, including promoters. Notably, the anchor book opens on December 13, with the offering closing on December 18. The price band is set at ₹627 to ₹660 per equity share of face value ₹2.
Financial Snapshot
In FY23, Inox India recorded a robust 17% surge in net profit and a 23.4% growth in revenues, reaching ₹152.71 crore and ₹965.9 crore, respectively. However, the EBITDA margin witnessed a slight dip from 23.47% in FY22 to 22.62% in FY23. The total debt also reduced from ₹54.54 crore to ₹8.99 crore by March 31st.
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Promoter Participation and Allocation
Promoters, including Pavan Kumar Jain and Nayantara Jain, are among the selling shareholders. The IPO has allocated shares with 50% reserved for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.
Grey Market Premium (GMP)
As of now, the Grey Market Premium for Inox India IPO stands at ₹0, indicating that shares are trading at their issue price with no premium or discount.
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Considerations for Investors
Investors should assess the financial performance, understand the reasons behind the offer-for-sale structure, and consider the overall market conditions. The book-running lead managers for the IPO are ICICI Securities Limited and Axis Capital Limited.
Conclusion
Inox India’s IPO price and listing presents an opportunity for investors to participate in the growth of a well-established cryogenic equipment manufacturer. As the IPO date approaches, potential investors are advised to conduct thorough due diligence, review the red herring prospectus, and consider their investment objectives in light of the company’s financial health and industry prospects.
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Disclaimer:
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