Inox India IPO: After Doms Industries, Inox India's IPO has closed with huge subscription on the last day of applications. Due to strong participation from institutional investors, Inox India's IPO was subscribed 61 times, with the reserve quota for institutional investors alone being oversubscribed 148 times.
According to BSE data, the IPO of Inox CVA, the country's largest cryogenic tank manufacturing company, has been subscribed a total of 61 times. In the IPO, 44,22,191 shares were reserved for institutional investors and applications have been received for 65,36,16,260 shares in this category. This category has been oversubscribed a total of 148 times. 33,16,644 shares were reserved for non-institutional investors and applications have been received for a total of 17,64,53,002 shares. This category has been subscribed a total of 53.20 times. 77,38,835 shares were reserved for retail investors and applications for 11,83,66,050 shares have been received for this category. The retail investors category has been subscribed a total of 15.30 times.
The IPO of INOX CVA was opened on 14 December 2023 and the last date to invest money in the IPO was 18 December. Inox CVA has fixed the IPO price band at Rs 627-660 per share. According to the upper band of IPO price, the company is going to raise Rs 1459 crore from the market through IPO. Rs 2 is the face value of the share. The allotment list will be released on 19th December. It will be issued to investors on December 20 and Inox CVA may be listed on the stock exchange on December 21.
All shares in Inox CVA have been issued under Offer for Sale. The company's revenue in 2022-23 was Rs 980 crore, whereas in the current financial year the revenue is expected to be around Rs 1200 crore. The company has an order book of Rs 1100 crore. The IPO of Inox Group company is coming after 17 years. In the gray market, Inox CVA shares are trading at a premium of Rs 555, which was Rs 200 before the opening of the IPO. This means that the IPO of Inox CVA can be listed on the stock exchange at around Rs 1215.
Also read
IRCTC Stock Price: IRCTC stock reached two-year high, stock hit upper circuit after 10% jump.
Get more latest business news updates