About Company’s Business:
They stand as the foremost supplier of cryogenic equipment in India by revenue in Fiscal 2023, according to the CRISIL Report from November 2023. With a wealth of experience exceeding 30 years, they specialize in providing comprehensive solutions encompassing the design, engineering, manufacturing, and installation of equipment and systems tailored for cryogenic conditions. Their product range spans standard cryogenic tanks and equipment, beverage kegs, customized technology, equipment, and solutions, along with substantial turnkey projects. These offerings find application across a diverse spectrum of industries including industrial gases, liquefied natural gas, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals, and construction.
About the Industry:
In 2022, the worldwide cryogenic equipment market achieved a valuation of $11.5 billion, with a projected demand growth of 6.9% CAGR from 2023 to reach $16.6 billion by 2028. As outlined by CRISIL Research, the increasing emphasis on cleaner fuels like liquefied natural gas and hydrogen, driven by the commitment to reduce carbon emissions from traditional energy sources, is anticipated to boost the adoption of cryogenic equipment globally. On a global scale, the top nine companies held a market share of approximately 35-48% in CY 2022. The company, based on revenue in CY 2022, is positioned among the top 10 cryogenic equipment manufacturers globally.
Key Financial Information (₹ in million):
| Particulars | As at September 30, 2023 | As at September 30, 2022 | As of March 31, 2023 | As of March 31, 2022 | As of March 31, 2021 |
|---|---|---|---|---|---|
| Share capital | ₹181.52 | ₹181.52 | ₹181.52 | ₹181.52 | ₹90.76 |
| Net worth | ₹5,542.38 | ₹4,799.43 | ₹5,494.76 | ₹5,022.84 | ₹3,715.14 |
| Total income | ₹5,799.95 | ₹4,946.35 | ₹9,841.99 | ₹8,037.13 | ₹6,089.92 |
| Profit / (loss) after tax attributable to equity shareholders | ₹1,033.37 | ₹834.20 | ₹1,527.14 | ₹1,304.98 | ₹961.07 |
| Earnings per Equity Share (basic) | ₹11.39 | ₹9.19 | ₹16.83 | ₹14.38 | ₹10.59 |
| Earnings per Equity Share (diluted) | ₹11.39 | ₹9.19 | ₹16.83 | ₹14.38 | ₹10.59 |
| Net asset value per Equity Share | ₹61.06 | ₹52.88 | ₹60.54 | ₹55.34 | ₹40.93 |
| Total borrowings | ₹310.29 | ₹43.42 | Nil | ₹433.76 | ₹603.69 |
Objective of the Issue:
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To carry out the Offer for Sale of up to 22,110,955 Equity Shares by the Selling Shareholders;
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To achieve the benefits of listing the Equity Shares on the Stock Exchanges;
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General corporate purposes.
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Thursday, December 14, 2023 |
| Close Date | Monday, December 18, 2023 |
| Issue Size | ₹1,459.32 Crores |
| Price | ₹627 to ₹660 per share |
| Lot Size | 22 Shares |
| Basis of Allotment | Tuesday, December 19, 2023 |
| Initiation of Refunds | Wednesday, December 20, 2023 |
| Credit of Shares to Demat | Wednesday, December 20, 2023 |
| Listing Date | Thursday, December 21, 2023 |
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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