Inox India IPO: Oversubscribed at 61.28 Times

Strong Response on Final Day

Inox India’s IPO, valued at Rs 1,459.32 crore, witnessed robust demand on December 18, the last day of bidding. The offer garnered bids for 94.84 crore shares against the issue size of 1.55 crore shares.

Inox India IPO GMP

as per ipowatch.in here is the info

The Inox India IPO GMP aka Grey Market Premium is ₹550.

The Inox India IPO Kostak Rate is ₹500.

The Inox India IPO subject to sauda rates is ₹9,000.

The Inox India expected return is 83%.

You can visit ipowatch.in for full coverage about expected returns

Category-wise Subscription

High net-worth individuals (HNIs) led the subscription, oversubscribing their allotted quota by 53.20 times. Retail investors subscribed 15.29 times, while qualified institutional buyers (QIBs) recorded an impressive 147.8 times subscription. The allocation was structured with half reserved for QIBs, 15% for HNIs, and the remaining 35% for retail investors.

IPO Details and Offer Structure

Inox India, a Vadodara-based cryogenic tanks manufacturing company, aims to raise Rs 1,459.32 crore through a purely offer-for-sale IPO. The price band for the offer was set at Rs 627-660 per share.

Selling Shareholders

Promoters Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, and Ishita Jain are among the selling shareholders. Additional sellers include Manju Jain, Lata Rungta, Bharti Shah, Kumud Gangwal, Suman Ajmera, and Rajni Mohatta.

Diverse Industry Presence

The company, specializing in cryogenic equipment and solutions, caters to various industries such as industrial gases, liquefied natural gas, green hydrogen, energy, chemicals, aviation, and aerospace. On December 13, Inox India raised Rs 437.8 crore via an anchor book at the upper price band. Key investors in the anchor book include Abu Dhabi Investment Authority, Nomura Trust, Goldman Sachs, Carmignac Portfolio, HSBC Global, SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Fidelity Funds, Ashoka Whiteoak, Nippon Life India, Kotak Mahindra Trustee, and Axis Mutual Fund.

Disclaimer: “Know in brief” provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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