India's INOX Air Products files for IPO

By Reuters News

Sept 30 (Reuters) - India's INOX Air Products filed for an initial public offering, draft papers showed on Wednesday.

The company is looking to offload up to 77.2 million shares in the IPO, the filing showed.

Kotak, Citi, ICICI Securities and JPMorgan are the book-running lead managers for the IPO, according to the filing.

The IPO will include the sale of up to 38.6 million shares by Prodair Corp, a top shareholder, and up to 11.8 million shares by Inox Chemicals.

The Indian company is a joint venture between American industrial gas maker Air Products and Chemicals APD.N and India's INOX Group.

INOX Air Products is a manufacturer of industrial and medical gases and has about 57 operating locations in India, according to its website.

The company offers a portfolio of gases, equipment and services through a massive manufacturing capacity in excess of 5,058 TPD of liquid gases.

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