Inox group plans Rs 1,000-crore IPO of cryogenic equipment maker in 2023

InoxCVA's offering may hit primary market next year

The Inox group, which is best known for Inox Leisure, the country's second-largest multiplex chain, is planning a Rs 1,000-crore initial public offering (IPO) of group company InoxCVA in 2023. The development comes as InoxCVA, the country's largest manufacturer of cryogenic equipment for the oil & gas and other sectors, looks to tap opportunities emerging in clean energy.

In an exclusive interaction with Business Standard, Siddharth Jain, Inox group director, said the proceeds of the IPO would be utilised to set up a new plant in Gujarat at an investment of Rs 200-250 crore and for further expansion in international