SpaceX IPO Buzz Lifts INOX India; Stock Jumps 21% On Aerospace Bets

Elon Musk-led SpaceX is set to go public on 12 June 2026 on Nasdaq. The company is looking to raise $75 billion at a valuation of about $1.75 trillion.

The SpaceX initial public offering (IPO) listing has triggered interest well beyond the US market. The SpaceX listing has also brought attention to INOX India. The cryogenic equipment maker has seen strong buying interest in recent weeks. Inox India shares have climbed 25% over the past month. The stock is up 64% so far in 2026.

Interest in the counter picked up after management disclosed during its March-quarter earnings call that it had secured an aerospace order worth about ₹200 crore from a leading private space company in the US.

What Is the Connection Between SpaceX And INOX India?

There is no disclosed business link between SpaceX and INOX India.

The connection is tied to investor sentiment. As excitement builds around the SpaceX IPO, market participants have been looking for listed companies that have exposure to the broader aerospace and space ecosystem like INOX India.

During its Q4 earnings call, INOX India said it had secured an aerospace order worth about ₹200 crore from a leading private space company based in the United States. Management also indicated that additional high-value aerospace orders could be secured during the first quarter of FY27.

INOX India described aerospace cryogenic systems as a long-term opportunity and said it expects the segment to support future growth as its international footprint expands.

Can INOX India Shares Rally Further?

Apart from aerospace, INOX India has been expanding into businesses such as data centres, nitrogen supply and distillery kegs, creating additional growth opportunities.

Management has guided for annual growth of 15-20%. However, after the recent run-up, the stock is trading at about 56 times one-year forward earnings.

He said investors may prefer to wait for a correction before making fresh entries, as some profit-booking cannot be ruled out after the SpaceX listing.

How Did INOX India Perform In FY26?

INOX India posted revenue of ₹475 crore in the fourth quarter of FY26, up 24.2% year-on-year. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 13.4% to ₹108 crore, while adjusted profit after tax grew 9% to ₹72 crore.

During the quarter, the company received orders worth ₹504 crore, taking its order book to ₹1,514 crore. FY26 was a record year for INOX India. Revenue climbed 21.2% year-on-year to ₹1,632 crore.

Adjusted EBITDA rose to ₹388 crore, while adjusted profit after tax reached ₹261 crore, reflecting growth of 20.2% and 19.3%, respectively. Export revenue for the full year was ₹971 crore. Overseas markets contributed 59% of annual revenue.

Also Read - Vedanta's Four Demerged Businesses To Begin Trading On BSE And NSE On Monday

SpaceX, meanwhile, remains one of the most closely watched upcoming listings globally. SpaceX generated revenue of $18.67 billion in 2025. The company, however, remained in the red and reported a net loss of $4.94 billion.

The IPO could also deliver sizable gains for employees holding stock options. Reports suggest that thousands of workers may become millionaires once the company lists.

Source:

The Economic Times