Airox Technologies IPO is expected to launch in 2023. The company is a leading PSA oxygen generator provider Airox Technologies has filed preliminary papers with the capital market regulator SEBI to raise INR 750 Crore through an IPO. According to the DHRP, the Initial Public Offering (IPO) is entirely an offer-for-sale (OFS) of equity shares by its promoters and existing shareholders.
The face value of each equity share is INR 10. The promoters Sanjay Bharatkumar Jaiswal and Ashima Sanjay Jaiswal are selling part of their shares worth INR 525 Crore and INR 225 Crore, respectively through the OFS.
Airox Technologies IPO – Business Description
Airox Technologies is one of the leading manufacturers of PSA Onsite Oxygen Generation Plant, Hyperbaric Oxygen Chamber & Refrigerated Air Dryers in India. The company is located in Aurangabad, Maharashtra, India.
- Airox Technologies has a successful track record for running Oxygen generators for more than 10 years.
- The company is a market leader in India with a market share of 50-55%, in terms of operational private hospital PSA medical oxygen market, as of Fiscal 2022.
- As of march 2022, The company installed nearly 872 operational PSA oxygen generators in hospitals in India. This includes 710 private hospitals and 162 government hospitals.
- The company has a diversified portfolio with products including AMOG-22 oxygen generators, oxygen analyser, auto change over system and container-based oxygen generators.
- As of March 31, 2022, Airox Tech is present across 28 states and three union territories in India, with 16 distributors through the country.
- The company is also evaluating to expand its operation into overseas markets, such as Bangladesh, Nepal, Bhutan, Philippines, African continent and Indonesia.
Airox Technologies Leaders and Founders
Sanjay Bharatkumar Jaiswal is the Founder and Managing Director of Airox Technologies Pvt. Ltd. He holds 70% of the total share of the company. He is the pioneer in launching Oxygen generator systems for Private hospitals in India which created a major revolution in the Indian market. He was awarded with the Entrepreneur of the year award at MSME India Business Awards in 2021. Sanjay Jaiswal has over 20 years experience in medical equipment business.
Ashima Sanjay Jaiswal is the Director of Airox Technologies Pvt. Ltd and holds 29% of the total share of the company.
Airox Technologies Revenue and Profit
Airox Technologies registered strong growth in revenue from operation. The revenue from operation has increased from INR 17 crores in FY2020 to INR73 crore in FY2021, while it has again increased to INR 226 crore in FY2022. Profit after tax has also gone up from INR7.6 million in FY2020 to INR900 million in FY2022. The Earning per Share has also gone up from 0.34 in FY2020 to 40.34 in FY2022.
Airox Technologies Financial Details
| All amounts in INR Million (Year ended March 31) | 2020 | 2021 | 2022 |
| Revenue Operation | 171.25 | 729.87 | 2,265.97 |
| Total Income | 172.39 | 732.55 | 2,297.41 |
| Total Assets | 175.21 | 635.51 | 1,466.46 |
| EBITDA | 21.22 | 234.85 | 1,224.86 |
| EBITDA Margin (%) | 12.39 | 32.18 | 54.05 |
| Profit After Tax | 7.60 | 158.73 | 900.38 |
| PAT Margin (%) | 4.41 | 21.67 | 39.19 |
| Earnings Per equity Share-Diluted | 0.34 | 7.11 | 40.34 |
| Net Cash from Operating Activities | 22.76 | 65.64 | 651.48 |
| Debt/Equity Ratio (%) | 4.51 | 0.46 | 0.01 |
| RoE % | 46.37 | 89.63 | 83.74 |
| ROCE (%) | 41.05 | 94.68 | 107.64 |
| Asset Turnover Ratio (%) | 0.97 | 1.80 | 2.16 |
Objective Behind the Airox Technologies IPO
Since it is a complete offer for sale, company will not receive any proceeds from the Offer, However, this will help the company to enable the equity shares to be listed. This will also enhance the brand name of the company.
Airox Technologies IPO: Do you invest?
- Airox is a leading manufacturer pressure swing adsorption oxygen generator.
- A modern and automated manufacturing facility with a dedicated research and development team.
- Currently, the company is the market leader with a market share of 50-55% in the operation of private hospitals using PSA medical oxygen.
- The demand of medical oxygen is expected to grow at a CAGR of 7-8% from Fiscal 2020 to Fiscal 2027 in terms of volume.
- An increase in industrialization will result in an increase in industrial oxygen demand.
- Strong financial performance over the year both in terms of total income and profit after tax.
- Both ROE and ROCE have gone up with low debt to equity ratio.
- Growing customer base. Customer base of PSA oxygen generators has increased from 42 in FY2020 to 285 in FY2022.
- I would like to invest in the Airox Technologies IPO for both listing gain as well as long term profit.
Airox Technologies IPO Details
| Airox Technologies IPO Details | Details Date and Price |
| Airox Technologies IPO Date | Coming soon |
| Airox Technologies IPO Price band | Coming soon |
| Airox Technologies IPO Allotment date | Coming soon |
| Refunds Initiation date | Coming soon |
| Credit of Shares to Demat Account | Coming soon |
| Listing Date | Coming soon |
| Fresh Issue | Nil |
| Offer for Sale | INR 750 Crore |
| Equity Shares outstanding prior to the Offer | 22,282,350 Equity Shares |
| Maximum bid (lot size) For retail investor | Coming soon |
| Minimum bid (lot size) For retail investor | Coming soon |
| Face Value | INR 10 per share |
| Listing on | BSE & NSE |
Airox Technologies IPO: contact Details and Lead Managers
| Contact Details | Lead Managers |
| Unit No. D-27, 5th Floor, Empire Mall Private Limited (PTC), Chikalthana, Aurangabad 431 006, Maharashtra, India +91 240 6602 686 compliance@airoxtechnologies.com www.airoxtechnologies.com | 1. JM Financial Limited 2. ICICI Securities Limited |
Airox Technologies IPO GMP
| Date | Airox Technologies IPO GMP | IPO Price |
Airox Technologies IPO Allotment Status
Airox Technologies IPO allotment status will be available on Link intime Limited website. To know your allotment status, get ready with your PAN number and click on this link. You may also reach out to E-mail: Signatureglobal.ipo@linkintime.co.in, Tel: +91 22 4918 6200.
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