Inox India recently concluded its initial public offering (IPO), where shares were offered in the price range of Rs 627 to Rs 660 per share, and the lot size was 22 shares. The IPO subscription period was from December 14 to December 18. The basis of allotment for the IPO is set to be announced today. Investors who participated in the offering can expect confirmation or revocation notifications via messages, alerts, or emails by Wednesday. The IPO received significant interest from investors.
SUMMARY
The Inox India IPO ran from December 14 to December 18.
The IPO was sold in the price band of Rs 627-660 apiece.
InoxCVA raised Rs 1,459.32 crore; IPO listing likely on Dec 21.
Inox India raised Rs 1,459 crore through the IPO, which was entirely through an offer for sale (OFS) of up to 22,110,955 shares. The overall subscription was 61.28 times, with qualified institutional bidders (QIBs) subscribing 147.80 times, non-institutional investors subscribing 53.20 times, and retail investors subscribing 15.30 times.
The Grey Market Premium (GMP) for Inox India remained strong, driven by robust demand from QIBs. The unlisted stock was reportedly trading at a premium of Rs 545-555 per share in the grey market, indicating a potential listing gain of 82-85 percent for investors. This is a significant increase from the GMP of Rs 330-350 before the start of the bidding process.
It's important to note that the information provided here is for informational purposes only, and readers are advised to consult with a qualified financial advisor before making any investment decisions.
