Inox CVA IPO
Inox CVA IPO INR 13,794/ 22 shares
Inox CVA IPO Details
Bidding Dates Min. Investment Lot Size Price Range
14 Dec ’23 INR 13,79422 INR 627 – 660
18 Dec ‘23
Issue Size IPO Doc
1459.32Cr RHP PDF
Subscription Status As on 15 Dec ’23, 5:00 PM
|Qualified Institutional Buyers 0.17x
|Non-Institutional Investor 13.73x
|Retail Individual Investor 8.17x
About Inox CVA
Inox CVA deals with the cryogenic equipment department.
This company specializes in different types of products such as beverage kegs, cryogenic tanks and equipment, customized technology, solutions and equipment, and so forth.
Inox CVA is considered to be the biggest exporter and supplier of cryogenic equipment in India and it serves different industries like green hydrogen, medical, energy, LNG, as well as aerospace.
The global footprint of this company extends to more than 66 nations and it serves a large number of clients across different sectors.
At present, the company is operating via 3 divisions – LNG, Industrial Gas, and Cyro Scientific.
Each of these divisions is known to provide specialized solutions to various market segments.
The location of their manufacturing facilities are in Dadra and Nagar Haveli, Gujarat, and have ISO certifications.
Parent Organisation Founded Managing Director
Inox India Limited 1976 Mr. Amit Advani
Strengths and Risks
+ Inox CVA had been the biggest supplier of cryogenic equipment in 2023 in India by revenue.
+ The company supplied a liquid hydrogen storage tank having a capacity of 238kl to a South Korean plant successfully. Recently, it supplied 4 liquid hydrogen storage tanks with a capacity of 311kl for developing three additional plants located in South Korea.
+ This company is the first in India to build a hydrogen transport tank mounted in a trailer in collaboration with the ISRO (Indian Space Research Organization).
+ Inox CVA has already developed several unique products such as marine inland waterway barge tanks, LNG vehicle fuel tanks, as well as ultra-low temperature vapour freezers intended for biological items.
+ During the last three years, this company has already developed its systems and equipment to as many as 1,225 domestic customers and 254 global customers across its three distinct segments.
+ This company has created systems intended for cryogenic handling and storage, especially in challenging fields such as cryogenic propulsion systems and space research. They have also been involved in several projects like the ITER nuclear fusion research.
+ Inox CVA provides custom-engineered solutions intended to serve the individual customers. This consists of unique projects such as disposable cylinders satisfying specific global standards as well as cryogenic tanks intended for LNG bunker barges.
+ The products of this company have been manufactured in compliance with different labor standards such as EN 13458, ASME, and ISO 3824-Part 2.
+ Exporting to as many as 66 countries, this company has established a substantial global footprint.
– The usage of the “INOX” name by the company under a license contract is vital for its branding. In case the company is unable to comply with this contract or its termination might affect the reputation and business of the company adversely.
– When cryogenic gases are stored at an extremely temperature, it can result in health problems like lung damage and frostbite. In case there is any leakage within an enclosed area, it could result in deficiency of oxygen which will require strict design, testing, as well as maintenance standards to reduce risks.
– Certain Promoter Group members have not given their consent to offer the required data for regulatory disclosures. This kind of possible non-compliance with the regulatory specifications as well as lack of cooperation might result in outdated or incomplete information regarding the operations and governance of the company.
– If the company, its subsidiaries, promoters, and some particular directors are facing ongoing legal proceedings, it might lead to penalties or liabilities if decided adversely, and this can affect the operations and fiscal health of the company negatively.
– Those industries that are served by the company are susceptible to economic downturns and are also subject to cyclical demand. It can result in fluctuations in the performance of the business as well as challenges when it comes to long-term planning.
– The company’s 46.52% and 11.56% of revenue have been obtained from the leading 10 customers and its largest consumer respectively, for Fiscal 2023. Any cancellation made by the customers or any reduction or delay in their orders might result in a negative effect on companies, outcomes of operations, as well as fiscal condition.
– The unsecured loans obtained by subsidiaries INOXCVA Europe B.V. and INOXCVA Comercio E Industria De Equipamentos Criogenicos Ltd. from parent company will be payable on demand. In case these subsidiaries do not have sufficient funds to make payments on time, it might affect the cash flows of Inox CVA as well as the operations of all those subsidiaries adversely.
– The company depends on exports to a great extent which constitutes 62.18% and 45.83% of revenues derived from operations in the 6 months ended 30th September 2023 and 2023 respectively.
– The manufacturing facilities’ geographical concentration in the Union Territory of Dadra and Nagar Haveli and in Gujarat has exposed the region-specific risks of the company.
|inr 627- 660
|High Networth Individual
|inr 627- 660
|2- 5 Lakh