Key Points
Inox India IPO is completely an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each..
Cryogenic tank maker Inox India announced a price band for its upcoming initial public offer (IPO) at Rs 627 - Rs 660 per share..
Since the issue is completely an OFS, the Vadodara-based company will not receive any proceeds and all the funds will go to the selling shareholders...
The company had earlier said the IPO is aimed at achieving the benefit of listing equity shares on the stock exchanges and carrying out OFS for the selling shareholders.. Inox India, one of the leading cryogenic tank manufacturers, has over 30 years of experience offering solutions across the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions...
The company's offering includes standard cryogenic tanks and equipment, bespoke technology, equipment, and solutions as well as large turnkey projects that are used in industries such as industrial gases, LNG, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilisers, aviation and aerospace and construction.. For the six-month period ended September 2023, its total income grew 17% year-on-year to Rs 580 crore, while net profit jumped 24% to Rs 103 crore...
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