INOX INDIA LIMITED FILES DRHP WITH SEBI
Promoter of reputed brand INOXCVA, INOX India Limited (“The Company”) a prominent player in the industrial gases sector, has filled its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).
The Company plans to raise fund through Initial public offering comprising Offer for Sale of up to 2,21,10,955 Equity Shares (Face Value of ₹ 2) by Promoter selling shareholder and other selling shareholder (“Offer for sale”).
The company has over 30 years of experience offering solutions across design, engineering, manufacturing and installation of equipment and systems for cryogenic conditions. It has developed a reputed brand, INOXCVA, in the cryogenic equipment industry.
The Offer for Sale comprises of equity shares up to 10,437,355 by Siddharth Jain, up to 5,000,000 Pavan Kumar Jain, up to 5,000,000 equity share by Nayantara Jain, up to 1,200,000 by Ishita Jain (“The Promoter Shareholders”), up to 230,000 by Manju Jain, up to 190,000 by Lata Rungta, up to 13,400 by Bharti Shah, up to 13,400 by Kumud Gangwal, up to 13,400 by Suman Ajmera, up to 13,400 equity share by Rajni Mohatta (“Other Shareholders”).
ICICI Securities Limited and Axis Capital Limited are the Book Running Lead Managers for the IPO.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges being BSE and NSE.
The company’s offering includes standard cryogenic tanks and equipment, beverage kegs, bespoke technology, equipment and solutions as well as large turnkey projects which are used in diverse industries such as industrial gases, liquefied natural gas (“LNG”), green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals and construction. In addition, the company manufactures a range of cryogenic equipment utilized in global scientific research projects. The company was the largest exporter of cryogenic tanks from India in terms of revenue in Fiscal 2022.