Inox India (InoxCVA) is scheduled to announce the basis of allotment for its recent concluded initial public offer (IPO) today. Investors who bade for the issue could get confirmation regarding the allotment or revocation via messages, alerts or emails by Wednesday. The primary offering of the company had received a strong response from investors. Inox India sold its IPO in the price band of Rs 627-660 per share. The lot size was 22 shares. The IPO ran from December 14 to December 18. The company raised about R 1,459 crore from the UPI, which was entirely an offer for sale (OFS) for up to 22,110,955 shares. The issue was subscribed 61.28 times, with the portion for qualified institutional bidders (QIBs) getting 147.80 times subscription. The quota reserved for non-institutional investors' category was subscribed 53.20 times. The quota reserved for retail investors was subscribed 15.30 times.
Also WATCH: Start-Up Angels: Women Entrepreneurs Spearheading Mamaearth, MyGlamm, Nykaa and More Transform India’s Start-Up Landscape. BT Magazine’s The Point Decodes Entrepreneurial Journey Grey market premium (GMP) of Inox India remained firm, thanks to strong QIB demand. Last heard, the unlisted stock was commanding a premium of Rs 545-555 per share, suggesting a listing pop of 82-85 per cent for the investors. This is against Rs 330-350 level, the GMP it was commanding before the commence of bidding process. InoxCVA specialises in providing cryogenic tanks and equipment, beverage kegs, customised technology, equipment and turnkey projects. Its offerings cater to various industries, including industrial gases, liquefied natural gas, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals, and construction. Brokerage firms were mostly positive on the issue of Inox India and suggested subscribing to the issue on the back of a niche business model, strong growth potential, a rising demand for its products and attractive valuations. ICICI Securities and Axis Capital were the book running lead managers for the Inox India IPO, while Kfin Technologies was appointed as the registrar for the issue. Shares of the company will be listed on both BSE and NSE, with December 21, Thursday, as the tentative date of listing. Investors, who bade for the issue of Inox India , can check the allotment status on the BSE website's IPO application check page. Check-in equity, under the issue type and select Inox India Limited in the dropbox; type-in the application number and add the PAN card number before checking-in at 'I am not a Robot' before hitting the submit button. Allotment status can also be checked through the online portal of Kfin Technologies, the registrar to the issue. Visit the web portal of Kfin Tech and select the IPO of Inox India in the dropbox. Enter the either PAN Card number, Application Number or DP Client ID as selected tab and hit 'search' to get the allotment status for your application.
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