Indian gas maker INOX Air Products files for IPO
APD•INOX Air Products filed for an IPO in which existing investors plan to sell up to 77.2 million shares; the company will issue no new shares and receive no proceeds.
1. Investors plan share sale
Existing investors, including top shareholder Prodair Corp, a unit of Air Products and Chemicals, and INOX Chemicals, are looking to sell up to 77.2 million shares in the IPO. INOX Air Products will not issue new shares or receive proceeds.
2. Company financials
INOX Air Products operates 57 locations in India and had merchant liquid gas capacity of 5,106 tonnes per day as of March 2026. For the year ended March 31, profit rose about 4% to 9.14 billion rupees, while revenue increased nearly 9% to 30.34 billion rupees.
