Explained: How SpaceX’s $75 billion IPO could create opportunity for Inox India shareholders

As the world gears up for Elon Musk's SpaceX IPO at a staggering $1.75 trillion valuation, a relatively lesser-known Indian company is emerging as an unlikely beneficiary thousands of miles away.

INOX India, a global leader in cryogenic technology, has found itself in the spotlight as investors hunt for domestic companies with exposure to the rapidly expanding global space ecosystem.The excitement around SpaceX's public listing has already spilt over into INOX India's stock.

Shares of the company have surged 25% over the past month and have gained in seven of the last eight trading sessions.The frenzy surrounding SpaceX's IPO, which reports suggest was oversubscribed nearly four times, has prompted investors to look beyond the headline-grabbing U.S. listing and identify potential beneficiaries closer home.

For many, INOX India appears to fit that bill.

But what exactly is the connection?Inox's aerospace pushDuring its Q4 earnings call, the company disclosed that it had secured a significant aerospace order from a leading U.S.-based private space company.

The total order value is approximately Rs 200 crore.

Management said it expects additional high-value orders in the first quarter of FY27."This order is a direct outcome of our proven execution capabilities and reinforces the growing confidence that global aerospace players have in INOX India's engineering expertise," the company said."Aerospace cryogenic systems are not short-term trends, but a long-term structural opportunity.

We believe that INOX India is well-positioned to capitalise on these opportunities through its engineering expertise, diversified capabilities, and expanding global presence and footprint," the company added.Can Inox India shares rally more?According to Sunny Agrawal, Head of Research at SBI Securities, investor interest in INOX India has picked up significantly ahead of the SpaceX listing.

Beyond aerospace, the company is also expanding into segments such as data centres, nitrogen supply and distillery kegs, providing additional growth levers."Management has guided for 15-20% growth per year, and after the recent rally, the stock is trading at a relatively rich valuation of about 56 times one-year forward earnings," Agrawal said.

He believes investors may be better off waiting for a correction before making fresh purchases.

"Investors may consider waiting for a correction before fresh entry, as some profit-taking and a cooling-off in the stock could follow once SpaceX gets listed," he added.SpaceX IPOThe much-anticipated SpaceX IPO is scheduled to be priced on June 11, with trading set to commence on the Nasdaq on June 12.

The company is looking to raise $75 billion through the offering, which would value the business at approximately $1.75 trillion.Despite the enormous investor enthusiasm, SpaceX remains loss-making.

For 2025, the company reported revenue of $18.67 billion and a net loss of $4.94 billion.

Much of the bullishness around the stock is tied to its future opportunities across satellite broadband, launch services, defence contracts and AI-related businesses rather than its current earnings profile.Not everyone is convinced by the valuation, however.

Morningstar said in a note published on Monday that the company appears "significantly overvalued" and suggested that investors may find more attractive entry opportunities after the stock begins trading.Inox India Q4 snapshotINOX India reported a strong performance for the fourth quarter of FY26, with revenue rising 24.2% year-on-year to Rs 475 crore.

Adjusted EBITDA grew 13.4% to Rs 108 crore, while adjusted profit after tax (PAT) increased 9% to Rs 72 crore compared with the corresponding quarter last year.Exports continued to be a key growth driver, with export revenue standing at Rs 291 crore and contributing 61% of total quarterly revenue.

During the quarter, the company secured order inflows worth Rs 504 crore, taking its total order backlog to Rs 1,514 crore.For FY26, INOX India delivered its highest-ever annual revenue of Rs 1,632 crore, up 21.2% year-on-year.

Adjusted EBITDA rose 20.2% to Rs 388 crore, while adjusted PAT increased 19.3% to Rs 261 crore.

Annual export revenue came in at Rs 971 crore, accounting for 59% of total revenue, reflecting sustained strength in international demand throughout the year.INOX India shares have risen 64% since the start of the year.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.

These do not represent the views of The Economic Times) ...