Inox CVA IPO Opens On 14 December 2023 Closes On 18 December Companies Fixed 627 – 660 Rupees Per Share Price Band

Inox CVA IPO: The IPO of Inox CVA, the country's largest company manufacturing cryogenic tanks, is going to open on 14 December 2023 and investors can apply for the IPO till 18 December. Inox CVA has also announced the price band of its IPO. The company has fixed the IPO price band at Rs 627-660 per share. According to the upper band of the price band of IPO, the company is going to raise Rs 1459 crore from the market through IPO.

Anchor investors will be able to invest in the IPO of Inox CVA on Wednesday 13 December. The company has fixed the price band of IPO at Rs 627 to Rs 660 per share while the face value of the share is Rs 2. A lot size of 22 shares has been fixed for the IPO of Inox CVA. That means, if applying in IPO for one lot, investors will have to pay Rs 13,974. The allotment list will be released on 19th December. Refunds will be given to investors on December 20 and Inox CVA may be listed on the stock exchange on December 21.

All shares in Inox CVA are being issued under Offer for Sale. The company is issuing 22,110,955 shares in IPA. Company promoter and director Siddharth Jain said that according to the upper end of the price band of the IPO, the valuation of the company has been estimated at Rs 5990 crore. The company's revenue in 2022-23 was Rs 980 crore, whereas in the current financial year the revenue is expected to be around Rs 1200 crore. The company has an order book of Rs 1100 crore.

The IPO of Inox Group company is coming after 17 years. Earlier, the IPO of multiplex company Inox Laser had come 17 years ago, which is now a part of PVR Group. Inox CVA shares are trading at a premium of Rs 200 in the gray market.

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