India’s largest supplier of cryogenic equipment, has made a successful entry in the stock market. The company’s shares are listed on NSE at Rs 949.65 per share with a premium of 43.88%, while on BSE it is listed at Rs 933.15 per share with a premium of 41.39%. The share price of IPO is Rs 660 per share.
IPO got great response
The IPO of Rs 1,459 crore received an excellent response from investors, the issue was subscribed 61.28 times. The maximum share of institutional investors was subscribed 147.80 times, followed by the share of non-institutional investors which was subscribed 53.20 times, the share reserved for retail investors was subscribed 15.30 times.
Anand Rathi said in a note, Inox India with its in-house technology as well as its LNG product range covering the entire value chain, is well positioned to capture the growth of this global market. The company was the largest exporter of cryogenic tanks from India in terms of revenue in FY2023.
What does the company do
The company is the largest supplier of cryogenic equipment in India. Its business is divided into three divisions
- Industrial Gas: This division manufactures, supplies and provides after sales services of cryogenic tanks and systems for storage, transportation and distribution of industrial gases like green hydrogen, oxygen, nitrogen, argon, carbon dioxide (CO2), hydrogen.
- LNG: This division manufactures, supplies and installs standard and engineered equipment for LNG storage, distribution, transportation as well as small scale LNG infrastructure solutions required for industrial, marine and automotive applications.
- Cryo Scientific: This division provides equipment for technology applications and turnkey solutions for scientific and industrial research related to cryogenic distribution.
