INOX Air Products files DRHP for IPO; existing shareholders to sell up to 7.72 cr shares
AI Summary
The IPO of INOX Air Products, primarily an offer for sale, highlights the growing interest in the industrial gases sector, which is crucial for various industries in India. Retail investors should note that while the company won't receive any funds from this offering, the strong market share and expanding production capacity suggest a robust growth trajectory. This could indicate a favorable investment opportunity, especially as the demand for industrial gases continues to rise across sectors like healthcare and manufacturing.
INOX Air Products Ltd, an integrated industrial, medical, electronic and specialty gases company, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising an offer for sale (OFS) of up to 7.72 crore equity shares.
The proposed IPO will see existing shareholders sell up to 77,156,663 equity shares of face value ₹1 each. The selling shareholders include Prodair Corporation, INOX Chemicals LLP, Siddho Mal Trading LLP, Siddhomal Air Products Private Ltd and Sitashri Trading and Finance Private Ltd. Since the issue comprises entirely an OFS, the company will not receive any proceeds from the proposed offering.
Original Article
Published on Hindu BusinessLine
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