Inox India makes stellar debut on BSE, listed at 41 per cent above issue price

Inox India IPO listing: The subscription for the IPO was carried out from December 14 and 18. The share allocation was finalised on December 19.

Updated on: Dec 21, 2023, 10:15:04 IST

By HT News Desk

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Cryogenic tank maker INOX India made a blockbuster debut on the stock exchanges, listing at 41 per cent above the issue price.

The shares of Inox India were listed at ₹933 a piece, more than the issue price of 660. The shares did hit an all-time high of ₹978.

The stock market index on a display screen at the Bombay Stock Exchange (BSE) building in Mumbai. (PTI)

The IPO of Inox India was subscribed 61.28 times on the last day of the offer. The issue had received bids for 94,84,24,268 shares against 1,54,77,670 shares on offer, as per the NSE data.

ALSO READ: Inox India share price LIVE updates

The subscription for the ₹1,459.32 crore issue was carried out from December 14 and 18. The share allocation was finalised on December 19.

The company had raised ₹438 crore from anchor investors on December 13, a day before its IPO had opened for subscriptions.

The company had allotted 66.33 lakh equity shares to 41 funds at ₹660 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website.

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The investors participated in the anchor book include Abu Dhabi Investment Authority, Nomura, Goldman Sachs, ICICI Prudential Life Insurance Company, HDFC Life Insurance Company, SBI Mutual Fund (MF), HDFC MF, Nippon India MF, Axis MF, Aditya Birla Sun Life MF and Tata MF, PTI reported.

INOX India, one of the leading cryogenic tank manufacturers, has over 30 years of experience offering solutions across the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions.

ICICI Securities and Axis Capital were the managers to the offer.

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