Shares of Inox India Ltd. have experienced a notable surge, climbing over 21.60% in the last five trading sessions. This rally is largely attributed to heightened investor interest surrounding the highly anticipated Initial Public Offering (IPO) of Elon Musk's aerospace company, SpaceX.
SpaceX IPO Fuels Investor Enthusiasm
Market attention shifted towards Inox India following reports of robust subscription demand for the SpaceX IPO. The US-based rocket, satellite, and artificial intelligence firm is expected to finalize its IPO price today, with its Nasdaq debut slated for Friday, June 12. Although Inox India's stock saw a slight dip of 2.51% on Thursday, it maintained a strong overall gain of 21.60% over the five-day period and an impressive 66.06% year-to-date.
Inox India's Strategic Role in Cryogenic Technology
Industry experts highlight Inox India's crucial role in specialized cryogenic equipment as the core reason for its connection to the SpaceX buzz. Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, noted, "The strong response to the SpaceX IPO has brought Inox India into focus." He suggested a 'buy-on-dips' strategy for investors given the recent sharp rally.
Abhay Agarwal of Piper Serica emphasized Inox India's technical expertise:
"Renewable energy, along with emerging avenues such as hydrogen, remains a key long-term opportunity. However, storing such gases is complex and requires specialised tanks — an area where Inox India has strong technical expertise."
He further added that the company is a global player, supplying critical fuel tanks to organizations like SpaceX and the Indian Space Research Organisation (ISRO). Inox India has also been instrumental in developing LNG-enabled long-distance trucks in collaboration with the Indian government and major OEMs.
Company Profile and Market Position
Established in 1976, Inox India provides comprehensive solutions in the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions. The company's primary business revolves around the production and supply of specialized cryogenic storage tanks and related equipment. As of March 2026, promoters held a significant 75% stake in the company.