Business news · IPO & Capital Markets · 01 Oct 2026
IN Chemicals Healthcare Metals & Mining
Industrial gases maker Inox Air Products has filed a draft prospectus with SEBI for an initial public offering that a report puts at Rs 10,000-11,000 crore. The whole issue is an offer for sale of up to 7.72 crore shares by existing holders, among them Prodair Corporation - the arm of US-based Air Products and Chemicals, which holds about 50% - and INOX group entities. The company gets none of the money. It runs 28 liquid gas plants with capacity of about 5,106 tonnes a day and a fleet of 739 cryogenic tankers. Kotak Mahindra Capital, Citigroup, ICICI Securities and JP Morgan are the lead managers.
A listing would give Indian investors a large pure industrial-gases company alongside Linde India, and a public valuation for a business that sells oxygen, nitrogen, hydrogen and speciality gases to steel mills, hospitals, electronics and chemical plants. Because it is a pure offer for sale, the proceeds go to the selling shareholders and add no capital for new plants; the effect on customers' gas costs is nil. For the primary market it is one more five-figure-crore issue in a queue that already holds Jio Platforms, at a time when foreign investors have been net sellers of Indian shares.
Reported by CNBC-TV18 — “Inox Air Products files for ₹10,000-11,000 crore IPO, as per report” ↗ on 01 Oct 2026.
NSE stocks, from the last close on or before 01 Oct 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Chemicals | 47 | -0.3% | 22 of 47 | -0.0 pts |
| Healthcare | 74 | -4.0% | 8 of 74 | -3.7 pts |
| Metals & Mining | 27 | -1.7% | 8 of 27 | -1.5 pts |
| All tracked stocks | 804 | -0.3% | 383 of 804 | — |
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