INOX Air Products Plans $1B IPO
Analysis based on 8 articles · First reported Mar 30, 2026 · Last updated Mar 31, 2026
The planned $1 billion IPO by Inox Air Products is expected to boost the Indian industrial gas market, which is projected to grow significantly. This event also signals continued activity in India's IPO market, despite a general weakening of sentiment due to geopolitical conflicts, potentially encouraging other large listings like Reliance Industries — Jio and National Stock Exchange of India.
Inox Air Products, a joint venture between Air Products and Inox Air Products, is planning a $1 billion initial public offering in Mumbai. The company has appointed Kotak Mahindra Bank, JPMorgan Chase, and Citigroup to manage the IPO and intends to file its draft prospectus with the Indian securities regulator within a month. This move comes as India's IPO market, while having been the world's second-largest in 2025, faces subdued sentiment due to geopolitical tensions. Despite this, other major IPOs, including those from Reliance Industries — Jio and National Stock Exchange of India, are also anticipated.
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