Inox India, a leading manufacturer of cryogenic storage tanks, recently made its debut in the stock market. The company’s shares were listed at a premium, attracting significant attention from investors and analysts alike. This article provides a detailed analysis of the latest developments related to Inox India’s share price.
IPO and Listing
The Inox India IPO was carried out from December 14 to 18. The company managed to mobilize ₹438 crore from anchor investors ahead of the issue. The IPO price band was set in the range of ₹627 to ₹660 per equity share.
Inox India made a stellar debut on the stock market. The share price listed at ₹949.65 on NSE and ₹933.15 on BSE, higher than the issue price of ₹660. As of December 21, 2023, the share price was ₹660.
The market response to Inox India’s listing has been positive, albeit slightly lower than expected. Analysts were expecting the stock to list at a 75-80 percent premium. However, the lower premium was attributed to the subdued market momentum.
Given the company’s strong fundamentals and the positive market response, Inox India’s shares hold promise for investors. However, as with any investment, potential investors should conduct thorough research and consider their risk tolerance before investing.
Inox India has shown a strong financial performance in the recent past. During the six months ending September 2023, the company reported a 17% year-on-year growth in total income to Rs 580 crore. This growth is a testament to the company’s robust business model and its ability to navigate challenging market conditions.
Inox India’s share price and its performance on the stock market provide an interesting case study for investors. The company’s successful IPO and the subsequent listing highlight the potential of the Indian stock market. As the company continues to grow and expand, it will be interesting to see how its share price evolves.
Q: What was the issue price of Inox India’s IPO?
A: The issue price of Inox India’s IPO was set in the range of ₹627 to ₹660 per equity share.
A: Inox India’s shares were listed at ₹949.65 on NSE and ₹933.15 on BSE.
Q: What was the subscription rate of Inox India’s IPO?
A: The IPO was subscribed 2.79 times on debut. The retail investor portion was subscribed 3.61 times, while the non-institutional investor segment garnered bids of 4.57 times. The qualified institutional buyer category was subscribed 4 percent.
Q: What is Inox India’s main business?
A: Inox India is a leading manufacturer of cryogenic tanks and provides solutions for cryogenic conditions.
Q: How has Inox India performed financially in recent times?
A: During the six months ending September 2023, Inox India reported a 17% year-on-year growth in total income to Rs 580 crore.