21-Dec-2023
2 mins read
INOX India makes a strong entrance into the stock market, listing significantly above its issue price, reflecting robust investor confidence.
Impressive Listing Performance
INOX India’s shares opened on the NSE at a remarkable 43.88% premium, priced at Rs 949.65, while BSE saw an opening at Rs 933.15.
IPO Details and Subscription Dates
With a price band of Rs 627- Rs 660 per share, the IPO attracted substantial interest, closing with a noteworthy Rs 437.8 crore raised from anchor investors.
The IPO allocation was strategically divided among qualified institutional buyers, non-institutional investors, and retail investors, ensuring a broad investment base.
The Company’s Fundraising Goals
Through the IPO, INOX India aims to raise funds by offering up to 22,110,955 equity shares, indicating robust growth plans.
Promoters and Management
The offering saw significant shares put up for sale by its promoters and key shareholders, highlighting the company’s strong management backing.
Lead Managers and Registrar
The IPO was expertly managed by ICICI Securities Limited and Axis Capital Limited, with KFin Technologies Limited as the registrar.
Grey Market Performance
A high grey market premium suggested a positive market sentiment, with expectations of the shares trading significantly above the IPO price.
INOX India’s market debut exceeded expectations and set a positive tone for its future in the stock market.