Airox Technologies Limited files DRHP with SEBI

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30th September 2022: Airox Technologies Limited, a market leader in terms of operational private hospital PSA medical oxygen market, with a market share of 50-55% as of Fiscal 2022, has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).

The Company’s initial public offering comprises an offer for sale of shares aggregating up to ₹ 7,500 million with face value ₹ 10 each by selling shareholders. The offer for sale comprises of equity shares aggregating up to ₹ 5,250 million by Sanjay Bharatkumar Jaiswal and equity shares aggregating up to ₹ 2,250 million by Ashima Sanjay Jaiswal (collectively, The “Promoter Selling Shareholders”).

The company is among the pioneers to facilitate the penetration of on premise PSA oxygen generators in Indian hospitals with nearly 872 installed and operational PSA oxygen generators, as of March 31, 2022. An established player with an experience of more than one decade in the PSA oxygen generation market, the company has been able to capture and penetrate the Indian medical oxygen generation market to become a market leader with around 30-31% of market share as of Fiscal 2022, in terms of total installed operational PSA oxygen generators in India, which includes both government and public sector hospital PSA medical oxygen market.

JM Financial Limited and ICICI Securities Limited are the Book Running Lead Managers to the issue.

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