Business Standard

Inox India files IPO papers with Sebi, with OFS of up to 2.21 cr shares

The Initial Public Offering (IPO) is entirely an Offer For Sale (OFS) of up to 2.21 crore shares by its existing shareholders and promoters

IPO

Press Trust of India New Delhi

Listen to This Article

Cryogenic tank maker Inox India Ltd has filed preliminary papers with capital market regulator Sebi to mop up funds through an initial public offering.
The Initial Public Offering (IPO) is entirely an Offer For Sale (OFS) of up to 2.21 crore shares by its existing shareholders and promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday.
Those offering shares in the OFS are Siddharth Jain, Pavan Kumar Jain Nayantara Jain, Ishita Jain, and Manju Jain.
Since the issue is completely an OFS, the Vadodara-based company will not receive any proceeds and all the funds will go to the selling shareholders.
Explaining the reason for going public, the company said it is aimed at achieving the benefit of listing equity shares on the stock exchanges and carrying out OFS for the selling shareholders.
Inox India, one of the leading cryogenic tank manufacturers, has over 30 years of experience offering solutions across the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions.
The company's offering includes standard cryogenic tanks and equipment, bespoke technology, equipment, and solutions as well as large turnkey projects that are used in industries such as industrial gases, LNG, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilisers, aviation and aerospace and construction.
ICICI Securities and Axis Capital are the book-running lead managers to the issue.
Honasa Consumer expects to raise Rs 400 cr through listing
 
IPO-bound Honasa Consumer Ltd, which owns new age FMCG brands such as Mamaearth and The Derma Co, expects to raise Rs 400 crore from listing and would spend the proceeds mainly on offline expansion, bring more brands to the market and on acquisitions, its Co-Founder and CEO Varun Alagh said. Honasa will focus on expanding the scale of the brand with more distribution expansion and awareness of its flagship brand Mamaearth, besides scaling its other brands as The Derma Co, Aqualogica and Ayuga, which are also performing well and growing monthly revenue.  pti

Rishabh Instruments receives 73% subscription on Day 1 

The Initial Public Offering (IPO) of global energy efficiency solution company Rishabh Instruments was subscribed 73 per cent on the first day of subscription on Wednesday.
 
The IPO received bids for 56,75,008 shares against 77,90,202 shares on offer, as per the NSE data. The category for Non-Institutional Investors (NIIs) was subscribed 1.24 times, while the portion for Retail Individual Investors (RIIs) was subscribed 92 per cent. The quota for Qualified Institutional Buyers (QIBs) got subscribed 1 per cent. pti

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 30 2023 | 12:19 PM IST

Explore News