Airox Technologies withdraws its DRHP

Maharashtra-based medical equipment manufacturer, Airox Technologies Limited has scrapped its Rs 750 crore IPO and has  withdrawn its DRHP, filed with the markets regulator SEBI. The company filed its DRHP in September 2022.

As per DRHP, the initial public offer was a complete offer for sale (OFS) of Rs 750 crore by its promoters Sanjay Bharatkumar Jaiswal and Ashima Sanjay Jaiswal. 

It is a manufacturer of PSA (pressure swing adsorption) oxygen generator and has a market share of 50-55% in terms of operational private hospital PSA medical oxygen market as of fiscal 2022.

Airox Technologies facilitates the penetration of on-premise PSA (pressure swing adsorption) oxygen generators in Indian hospitals with nearly 872 installed and operational PSA oxygen generators as of March 2022.

PSA oxygen generators equipment provides a stable supply of oxygen at a lower cost than other traditional medical oxygen procurement methods.