Sunday, December 4, 2022
HomeDigit NewsAirox IPO: Medical device maker will raise 750 crores from IPO, submit...

Airox IPO: Medical device maker will raise 750 crores from IPO, submit documents with SEBI

Airox Technologies IPO 2022 India: Aerox Technologies, a company that makes medical devices in the country, is coming soon with its IPO. For this, the company has submitted its draft papers with the market regulator SEBI. The company wants to raise Rs 750 crore through this IPO.

Fresh shares will not be issued under this IPO. That is, it will be completely based on Offer for Sale (OFS). Promoters Sanjay Bharat Kumar Jaiswal and Ashima Sanjay Jaiswal will sell the shares as part of the offer for sale.

Intend to raise Rs 750 crore
Under this, promoter Sanjay is going to sell equity shares worth Rs 525 crore and Ashima Rs 225 crore. JM Financial and ICICI Securities are the book running lead managers of the issue. The company intends to raise Rs 750 crore from this IPO.

Work of Airox Technologies
Airox Technologies, a manufacturer of oxygen generators, has a market share of 50-55 percent in terms of operational private hospital PSA medical oxygen market by the financial year 2022. The company provides on-premises PSA (Pressure Swing Adsorption) oxygen generators to Indian hospitals with around 872 installed and operational PSA oxygen generators as of March 2022.

What are PSA Oxygen Generators
Let us tell you that PSA oxygen generators are equipment that remove nitrogen gas from the air and produce oxygen with purity. These equipment provide a stable supply of oxygen at a low cost as compared to other traditional medical oxygen procurement methods.

Medical oxygen demand will increase
The draft papers say that the demand for medical oxygen is expected to grow at a compound annual growth rate (CAGR) of 7-8 per cent from FY 2020 to FY 2027. More than 80 percent of hospitals in India receive medical oxygen through cylinders. By FY 2027, more than half the demand for medical oxygen is expected to be met through PSA.

- Advertisement -

- Advertisment -

- Advertisment -spot_imgspot_imgspot_img


Two Wheeler


Digit News