Inox CVA IPO will open for subscription from 14 December 2023. The company aims for an issue size of ₹1,459.32 Cr through this IPO.
Company Overview
| Full name | Inox CVA Limited |
| Sector | Capital Goods |
| Industry | Engineering – Industrial Equipments |
| Company Website | https://inoxcva.com/ |
About Company
INOX India stands out as a significant producer of cryogenic apparatus, holding a prime position among the global leaders in cryogenic tank manufacturing based on revenues in the year 2021. With a history spanning more than three decades, the company specializes in providing comprehensive solutions encompassing the design, engineering, manufacturing, and installation of equipment and systems tailored for cryogenic environments. The company’s offerings encompass a range of products, including standard cryogenic tanks, beverage kegs, custom technology, equipment, and tailored solutions. Additionally, they undertake substantial turnkey projects utilized across a variety of industries. These sectors include industrial gases, liquefied natural gas (LNG), green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals, and construction.
INOX India maintains a diverse clientele spanning various industries and geographical regions. In the fiscal years 2023, 2022, and 2021, the company supplied its equipment and systems to a total of 1,201 domestic customers and 228 international customers across the three divisions. The company operates three manufacturing facilities situated in Kalol, Gujarat, the Kandla Special Economic Zone (Kandla SEZ) in Gujarat, and Silvassa in the Union Territory of Dādra and Nagar Haveli. In the fiscal years 2023, 2022, and 2021, its installed capacity for cryogenic tanks and related items stood at 3,100, 3,100, and 2,200 Equivalent Tank Units (representing cryogenic storage tanks of 10,000 liters), respectively. Additionally, the company produced 2.4 million, 2.4 million, and 1.4 million disposable cylinders in the same respective years.
The Objectives of the Issue
- Carry out the Offer for Sale of up to 22,110,955 Equity Shares by the Selling Shareholders; and
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges. Further, the Company expects that the proposed listing of its Equity Shares will enhance the visibility and brand image as well as provide a public market for the Equity Shares in India. The Selling Shareholders will be entitled to the entire Offer proceeds after deducting the Offer expenses and relevant taxes.
Inox CVA IPO Timetable
| IPO Opening date | 14 December 2023 |
| IPO Closing | 18 December 2023 |
| Basis of Allotment | 19 December 2023 |
| Initiation Refund | 20 December 2023 |
| Credit to Demat Account | 20 December 2023 |
| Listing Date | 21 December 2023 |
Inox CVA IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹1,459.32 Cr – 22,110,955 shares |
| Fresh Issue | NIL |
| Offer for sale | ₹1,459.32 Cr – 22,110,955 shares |
| Face value | ₹2 per share |
| Price Band | ₹627 to ₹660 per share |
| Lot size | 22 Shares |
| Market Maker portion | – |
| Shareholding pre-issue | 90,763,500 |
| Shareholding post-issue | – |
| Listing Exchange | BSE & NSE |
Inox CVA IPO Lot Size
| 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 |
Inox CVA IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Inox CVA Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 593.80 | 782.71 | 965.90 | 564.61 |
| Expenses | 477.93 | 629.51 | 779.15 | 443.82 |
| Net income | 96.11 | 130.50 | 152.71 | 103.34 |
| Margin (%) | 16.19 | 16.67 | 15.81 | 18.30 |
Inox CVA Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 10.59 | 14.38 | 16.83 |
| PE ratio | – | – | 37.25 – 39.22 |
| RONW (%) | 25.87 | 25.98 | 27.79 |
| NAV | 40.93 | 55.34 | 60.54 |
| ROCE (%) | 35.15 | 33.70 | 36.53 |
| EBITDA (%) | 24.58 | 23.47 | 22.62 |
| Debt/Equity | (43.42) | (52.89) | (54.87) |
Company Promoters
- Pavan Kumar Jain
- Nayantara Jain
- Siddharth Jain
- Ishita Jain
Promoter Holding
| Pre Issue Share Holding | 99.30% |
| Post Issue Share Holding | 75.46% |
Inox CVA IPO Lead Manager(s)
- ICICI Securities Limited
- Axis Capital Limited
Inox CVA Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: inox.ipo@kfintech.com
Website: www.kfintech.com
Inox CVA Contact Details
INOX INDIA LIMITED
9th Floor, K P Platina, Racecourse,
Vadodara – 390 007, Gujarat, India
Phone: +91 265 6160100
Email: secretarial.in@inoxcva.com
Website: www.inoxcva.com
Inox CVA IPO Allotment Status
INOX India IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Inox CVA IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
