Introduction

 Inox India, a prominent manufacturer of cryogenic tanks, recently initiated its highly anticipated Initial Public Offering (IPO). The market excitement around this IPO has been palpable, as indicated by a robust Grey Market Premium (GMP), showcasing significant investor interest.

IPO Details

The IPO subscription window spanned from December 14, 2023, to December 18, 2023. It comprised an offer for sale of 2.21 crore shares, with a price band set between ₹627 to ₹660 per share. The allocation for the Inox CVA IPO was expected to be finalized by Tuesday, December 19, 2023.

Subscription Status

By the third day, the IPO had been oversubscribed by an impressive 15.75 times. This garnered substantial responses from retail and non-institutional investors, underscoring a robust market demand. On the second day of subscription, the IPO witnessed a noteworthy subscription rate of 7.07 times.

Grey Market Premium (GMP)

The Grey Market Premium (GMP) for the Inox India IPO was notably strong, ranging between Rs 450-520, reflecting an approximate 80 per cent premium over the upper band of the IPO. Unlisted shares of Inox India were trading at a premium of Rs 545 in the grey market.

Listing and Future Prospects

The anticipated listing date for the IPO is set for Thursday, December 21, 2023. Considering the prevailing GMP of Rs 520 and the upper band of Rs 660, the estimated listing price for the Inox India IPO is projected at Rs 1180, indicating an expected gain of 78.79%, almost 80 per cent.

In conclusion, the Inox India IPO has sparked significant market enthusiasm. The robust subscription and high GMP indicate positive investor sentiment. However, investors are advised to make informed decisions in alignment with their risk appetite and investment objectives.

FAQs

1.  What is the price band for the Inox India IPO?

 A: The price band for the Inox India IPO ranged between ₹627 to ₹660 per share.

2.  What was the subscription status of the Inox India IPO?

A: The IPO was oversubscribed by a remarkable 15.75 times by the third day. It received overwhelming responses from retail and non-institutional investors.

3.  What is the Grey Market Premium (GMP) for the Inox India IPO?

A: The GMP of Inox India’s IPO stood strong within the range of Rs 450-520, roughly 80 per cent over the upper band of the IPO.

4.  When is the tentative listing date for the Inox India IPO?

 A: The tentative listing date is Thursday, December 21, 2023.

5.  What is the expected listing price for the Inox India IPO?

 A: With the current GMP at Rs 520 and the upper band at Rs 660, the estimated listing price for the Inox India IPO is Rs 1180, reflecting an expected gain of 78.79%, almost 80 per cent