Airox Technologies is one of the top PSA oxygen generator suppliers in terms of operating profits as of Fiscal 2021, (Source: CRISIL Report). Airox Technologies IPO will hit the stock market in January 2023.
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About Airox Technologies
Airox Technologies limited is also a market leader in the operational private hospital PSA medical oxygen market, with a market share of 50–55%.
With over 872 installed and functioning PSA oxygen generators as of March 31, 2022, they are among the pioneers in facilitating the penetration of on-premise PSA oxygen generators in Indian hospitals.
In terms of the total installed operational PSA oxygen generators in India, which includes both the government and public sector hospital PSA medical oxygen market, they are an established player with more than ten years of experience in the PSA oxygen generation market.
As of Fiscal 2022, they are the market leader with a share of between 30 and 31% of the market (Source: CRISIL Report).
Business
Since they have specific procedures and specialized molecular sieves for the PSA oxygen generators, which have been tailored for Indian environmental and electrical circumstances, they use cutting-edge technology in their oxygen generators.
From Fiscal 2020 to Fiscal 2027, India’s demand for medical oxygen is projected to increase at a CAGR of 7–7.5% in terms of volume.
Their company, with a consumption of 350 tonne/day through the 872 installed and operational PSA oxygen generators as of March 31, 2022, occupies a market share of 25–27% of the medical oxygen consumption in India during Fiscal 2022, which was 1,250–1,350 tonne/day.
As a producer of PSA oxygen generators, they started doing business in 2012. They have added new goods to their portfolio over time, diversifying their business.
Manufacturing Plant
By entering into annual maintenance agreements and comprehensive maintenance agreements with their clients, Airox Technologies limited also offers post-sale maintenance services.
They recently moved to their new manufacturing plant in Aurangabad, Maharashtra, in April 2022. Their brand-new building, which is 43,723 square feet in size, is furnished with cutting-edge machinery, contemporary technology, and automated systems.
Before moving their operations to their new location, they were doing so from two buildings with a combined area of roughly 10,708 square feet, all of which were located in Aurangabad, Maharashtra.
Over 80% of Indian hospitals currently purchase medical oxygen in cylinders, but by fiscal 2027, it is anticipated that the PSA method will supply more than half of the country’s medical oxygen needs.
Airox Technologies IPO
Airox Technologies Limited, headquartered in Visakhapatnam has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of INR 750 crore on 27 September 2022.
The offer doesn’t includes any fresh issue and there is offer for sale (OFS) of INR 750 Crore by the promoters mentioned in the DRHP. They are not looking for any Pre-IPO placement in this issue.
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- Initial Public Offering
They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.
Financials Trends
| Particulars | For the year/period ended ( in Cr.) | ||||
|---|---|---|---|---|---|
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |||
| Total Assets | 146.65 | 63.55 | 17.52 | ||
| Total Revenue | 229.74 | 73.26 | 17.24 | ||
| Profit After Tax | 90.03 | 15.87 | 0.76 | ||
Basic and Diluted Earnings Per Share
| Financial Period | Basic EPS (in INR) | Diluted EPS (in INR) | Weight |
| Financial Year 2020 | 0.34 | 0.34 | 3 |
| Financial Year 2021 | 7.11 | 7.11 | 2 |
| Financial Year 2022 | 40.34 | 40.34 | 1 |
| Weighted Average | 22.60 | 22.60 | |
Objects of the Issue
- Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
- To meet common corporate objectives.
Basis of the offer
Airox Technologies limited feel that the following business strengths enable them to compete successfully in the industry, and that these factors will be used to calculate the Offer Price:
- India’s top suppliers of PSA oxygen generators.
- Strong consumer base that is expanding.
- Dedicated research & development staff and modern, automated manufacturing facility.
- Strong service network and extensive sales and distribution networks.
- Seasoned management group with solid domain knowledge.
- Strong financial performance with ongoing profitability and expansion.
Airox Technologies Peer Comparison
There are no listed firms in India with a portfolio of businesses that is equivalent to their business and to the size of their activities. As a result, it is impossible to compare their company to others in its field.
Airox Technologies IPO Details
| IPO Opening Date | January 2023 |
| IPO Closing Date | January 2023 |
| Issue Type | Book Building |
| Face Value | 10 per share |
| IPO Price | 0 to 0 per equity share |
| Market Lot | – |
| Min Amount | – |
| Listing At | BSE, NSE |
| Issue Size | 750 Crore |
| Fresh Issue | 60 Crore |
| Offer for Sale | 750 Crore |
Airox Technologies IPO Date
Airox Technologies Limited IPO opening date is January 2023, and the closing date is January 2023. The Airox Technologies issue may list in January 2023.
| IPO Opening Date | January 2023 |
| IPO Closing Date | January 2023 |
| Basis of Allotment Date | January 2023 |
| Initiation of Refunds | January 2023 |
| Credit of Shares to Demat Account | January 2023 |
| IPO Listing Date | January 2023 |
Basis of Allotment
| Type | % of Offer | Basis of Allotment |
|---|---|---|
| Qualified Institutional Buyer | 75 |
Roughly equivalent
|
| Non Institutional Investor | 15 |
Roughly equivalent
|
| Retail | 10 | Minimum 1 lot based on availability |
Airox Technologies IPO Status
Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.
Here, you can find the Allotment Status of Airox Technologies IPO.
Airox Technologies IPO GMP
Airox Technologies Limited IPO Grey Market Premium is 0. You can check out GMP of Other IPOs on below Links:
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Check Out the GMP of all Other IPOs
Airox Technologies Limited IPO Review
Airox Technologies Limited IPO review will depend on the price band which will be announced after SEBI approval. Whenever it will be announced we will update you regarding review of Airox Technologies IPO is good or bad.
Airox Technologies Limited IPO Risk
- The COVID-19 outbreak raised consumer awareness of their goods and demand of their products & an increase in their revenue. They are unable to foresee future product demand or the COVID-19 pandemic’s effects on their company.
- For the supply of molecular sieves and vessels, they rely on their key partner. Any changes in the pricing, availability, or quality of the raw materials could delay production & drive up costs, which could hurt their bottom line.
- They are reliant on a steady supply of raw materials, whose availability and price can vary greatly owing to circumstances outside their control.
- They might not be able to continue to be the industry leader in the production of medical oxygen, which would be bad for business.
Other Threats
- The sale of PSA oxygen generators accounts for the majority of their total revenue.
- They might not be able to continue to be the market leader in the production of medical oxygen, which would be detrimental to their company prospects.
- Their efforts to produce new products, increase sales, and market those products could suffer if they don’t keep good working ties with healthcare experts.
- Any decline in demand for any of their core products could have a negative impact on their business.
- For the distribution of their goods as well as the supply of their raw materials, they depend on outside transportation companies. Any shortcomings or interruptions in their services could have a negative impact on their reputation and revenue.
AirSep
They import molecular sieves & vessels from AirSep Corporation as part of a long-standing strategic partnership with this international supplier of sieves & vessels.
For a period of ten years beginning on April 13, 2022, they are the sole authorized distributor of products made by AirSep Corporation in India & other specified nations.
The sieves produced by AirSep Corporation have CE Medical Devices Class II certification. The PSA oxygen generators use sieves to separate oxygen from other gases during generation process, making sieves the most important part of the generators.
In order to prevent any drop in their oxygen purity levels, players must employ high-quality sieves. Limitation of access to such high-quality sieves creates a technical barrier to new entrants entering the market.
Airox Technologies Limited IPO Brokerage views
Once the dates will be announced we will update the views of different brokerage firms regarding this IPO. Here is the views of different stock brokers regarding this Airox Technologies IPO:
- Yes Securities : Not Updated
- Choice Brokering: Not Updated
- Axis Securities: Not Updated
- IIFL Securities: Not Updated
- Trade swift: Not Updated
- Anand Rathi : Not Updated
- ICICI Securities: Not Updated
Airox Technologies Limited IPO Subscription Status
| Date | Day | QIB | NII | Retail | Employees | Total Subscription |
| January 2023 | 1 | |||||
| January 2023 | 2 | |||||
| January 2023 | 3 |
Airox Technologies Limited Management
Their promoter and managing director is Sanjay Jaiswal, who is involved in strategic planning, design, and production development. Sanjay Jaiswal has over 20 years of experience working in the medical equipment sector. Because of his expertise and leadership, they see their Promoter, Sanjay Jaiswal, as a key factor in their progress.
On their board, they also have two independent directors: Janardhan Pralhadrao Gupta, who worked for Cosmo Films and its associated companies for more than 30 years, and Ravi Shivramakrishna Raman, who has more than 15 years of business expertise.
They believe that their management team, which is made up of knowledgeable and experienced personnel, helps them execute their business by enabling them to identify potential new growth possibilities.
Airox Technologies Limited‘ Promoters
- Sanjay Bharatkumar Jaiswal
- Ashima Sanjay Jaiswal
Principal Shareholder’s Holding
| Pre Issue Share Holding | 99.99 % |
| Post Issue Share Holding |
Airox Technologies Limited Prospectus
Contact Details
Airox Technologies Limited
Unit No. D-27, 5th Floor, Empire Mall
Private Limited (PTC), Chikalthana,
Aurangabad 431 006, Maharashtra, India
Tel : +91 240 6602 686
Email: [email protected]
Website: www.airoxtechnologies.com
Registrar
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai 400 083, Maharashtra, India
Tel: +91 22 4918 6000
E-mail: [email protected]
Website: www.linkintime.co.in
Lead Manager(s)
- JM Financial Limited
- ICICI Securities Limited
We hope we are able to answer all your questions about Airox Technologies IPO. If you don’t have a Demat account, open it now with Zerodha best trading app of India.
Disclaimer
The reference of IPO Grey Market Premium (IPO GMP) is only valid for the date specified in the header.
On the IPO Grey Market, we do not purchase or sell IPO forms.
The Kostak Rate is the profit earned by selling an IPO application (in an off-market transaction) to somebody else before the issue is allotted or listed.
Do not subscribe to an IPO based solely on the premium price, as it may alter at any time before to the listing. Only consider the fundamentals of the companies when subscribing.
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Note:
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FAQ
Airox Technologies Limited IPO Opening Date?
Airox Technologies Limited IPO will open in January 2023.
Airox Technologies Limited IPO Listing Date?
Airox Technologies Limited IPO will list in January 2023.
Airox Technologies IPO GMP Today?
Airox Technologies IPO Grey Market Premium is INR 0 .
Airox Technologies Limited IPO Allotment Date?
Airox Technologies Limited IPO basis of allotment will be in January 2023.
Lot size for Airox Technologies Limited IPO?
Lot size for Airox Technologies Limited IPO is 0.
