Read on the application
INOX India Limited has filed draft documents with the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). According to the draft documents filed by Cryogenic Tank Manufacturing Company (DRHP), the IPO will do the IPO. Should be in the form of Offer for Sale (OFS) outright from existing promoters and shareholders of the company. 2.21 crore shares will be put up for sale under the IPO.
As the stock is about to be split into 5 parts, there is a rush to buy the shares
Those offering shares under the OFS include Siddharth Jain, Pawan Kumar Jain, Nayanthara Jain, Ishita Jain and Manju Jain. As this IPO is entirely based on OFS, the Vadodara-based company will not receive any proceeds and the entire proceeds will go to the shareholders holding the shares for sale.
Inox India is one of the leading cryogenic tank manufacturers in the country. It has over 30 years of experience in providing design, engineering, manufacturing and installation solutions for cryogenics. ICICI Securities and Axis Capital will be the book-running lead managers for the issue.