The initial public offering (IPO) of InoxCVA, will open for subscription on Thursday, December 14 and the Inox Group entity is offering its shares in the fixed price band of Rs 627-660 apiece with a lot size of 22 equity shares and its multiples thereof. The three-day bidding for the offer will conclude on Monday, December 18. Inox India, which was incorporated in 1976, is a supplier of cryogenic equipment, majorly tanks. The company provides end-to-end solutions for equipment and systems operating in cryogenic conditions, including design, engineering, manufacturing and installation. The company is looking to raise Rs 1,459.32 crore via its initial IPO, which entirely consists of an offer-for-sale (OFS) of up to 22,110,955 equity shares by its promoters and other selling shareholders, who have acquired shares at an weighted average cost between Rs 0.13 and Rs 5.36 apiece. Since it is entirely an offer for sale, the company will not receive any proceeds from the issue and the entire sum shall go to the selling shareholders, net of the issue expenses. The anchor book for the issue shall open on Wednesday, December 13. InoxCVA provides cryogenic tanks and equipment, beverage kegs, customized technology, equipment and solutions, as well as comprehensive turnkey projects, which cater to a variety of industries such as industrial gases, liquefied natural gas green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals and construction. InoxCVA had exported products and delivered services to 66 countries, including the United States, Saudi Arabia, the Netherlands, Brazil, Korea, United Arab Emirates, Australia, and Bangladesh as of September 2023. The manufacturing facilities are in Kalol, Kandla Special Economic Zone (Kandla SEZ), and Silvassa in the Union Territory of Dādra and Nagar Haveli. The company has reserved 50 per cent of the offer for the qualified institutional bidders (QIBs), while non-institutional investors will get 15 per cent of the allocation. Remaining 35 per cent of offer shall be allocated towards the retail investors of the issue. InoxCVA reported a net profit of Rs 103.34 crore with a total revenue of Rs 580 crore for the period ended on September 30, 2023. The company reported a net profit of Rs 152.71 crore with a total revenue of Rs 984.20 crore for the financial year ended on March 31, 2023. ICICI Securities and Axis Capital are the book running lead managers of the InoxCVA IPO, while Kfin Technologies has been appointed as the registrar for the issue. Shares of the company shall be listed on both BSE and NSE on Thursday, December 21.