Inox India IPO set to open on December 14, price band fixed at ₹627 to ₹660 per share

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Inox India IPO set to open on December 14, price band fixed at ₹627 to ₹660 per share
  • The company aims to raise funds by offering up to 22,110,955 equity shares through this sale by the selling shareholders.
  • Interested parties can bid for a minimum of 22 equity shares and in multiples of 22 equity shares thereafter.
  • In FY23, the company experienced a rise in its net profit, registering a 17% increase to ₹152.71 crore, compared to ₹130.5 crore in FY22.
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INOX India is set to launch its initial public offering (IPO) on December 14, 2023 and close on December 18. The price band for the offer has been established at ₹627 to ₹660 per equity share. Interested parties can bid for a minimum of 22 equity shares and in multiples of 22 equity shares thereafter.

The company aims to raise funds by offering up to 22,110,955 equity shares through this sale by the selling shareholders. The anchor investor bidding date is scheduled for December 13.

INOX India, established in 1992, is a prominent player in the global cryogenic industry. With over three decades of expertise, the company specialises in crafting and delivering cryogenic tanks, equipment, and comprehensive solutions tailored for diverse industries. Their precision and innovation have set them apart, ensuring top-notch quality and reliability.

Their reach spans various sectors, offering customised cryogenic solutions. From providing essential tanks and systems for industrial gases like oxygen and nitrogen to spearheading turnkey solutions for LNG storage and distribution, INOX remains at the forefront. They are also actively involved in the green hydrogen movement.

Financials and risk factors

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In FY23, the company experienced an increase in its net profit, registering a 17% increase to ₹152.71 crore, compared to ₹130.5 crore in FY22.

PARTICULARS FY23 FY22 FY21
Revenue from operations ₹523.2 crore ₹514.3 crore ₹388 crore
Net Profit ₹1,52.7 crore ₹1,30.4 crore ₹ 96.1 crore

Their business heavily relies, and will continue to do so, on their manufacturing facilities, exposing them to various risks inherent in the manufacturing process, such as equipment breakdowns, industrial accidents, and the potential impact of severe weather conditions and natural disasters.

Also, a substantial portion of their revenue is derived from a limited customer base, making them vulnerable to adverse consequences resulting from customer cancellations, delays, or reductions in orders. Such actions could significantly affect their business, financial status, and operational outcomes.

Their dependency on multiple third-party suppliers for crucial components, materials, and customer support services, including product repairs and returns, exposes them to risks. Shortfalls in the supply chain, escalated costs of materials, or other input expenses might disrupt product pricing and availability, thereby impacting their business, financial position, and operational performance.
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