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INOX India IPO: GMP Soars on Strong Subscription Status. Should You Apply as Bidding Ends Today?

INOX India IPO: GMP Soars on Strong Subscription Status. Should You Apply as Bidding Ends Today? / (Photo: Courtesy company website)

The commencement of subscription for the INOX India Limited’s initial public offering (IPO) on December 14, 2023, marked the onset of a limited timeframe for potential investors. The subscription window is set to close on December 18, 2023, leaving just one day for interested parties to participate in the bidding process. The price band for the IPO, set by the cryogenic equipment manufacturer, is fixed at ₹627 to ₹660 per equity share. Notably, the INOX India IPO subscription status reveals a substantial 7.14 times oversubscription after the initial two days of bidding.

Following this robust subscription phase, the grey market has witnessed a surge in enthusiasm for the public issue. Market analysts report a premium of ₹560 per equity share, a significant increase from the ₹330 GMP recorded on the subscription opening date. Thus, the INOX India IPO GMP has experienced a remarkable ascent from ₹330 to ₹560 after two days of subscription and the intervening weekend.

INOX India IPO Subscription Highlights

As of 11:57 AM on the third day of bidding, the overall subscription stands at an impressive 12.64 times, with the retail portion experiencing a 10.77 times subscription. The NII portion, on the other hand, boasts a remarkable 28.05 times subscription, while the QIB segment has garnered 4.37 times bids against the original offer.

Key INOX India IPO Details

Let’s delve into crucial details surrounding the INOX India IPO:

  1. INOX India IPO GMP: Market observers note a current premium of ₹560 in the grey market for the company’s shares.
  2. INOX India IPO Price: The IPO price band is set between ₹627 and ₹660 per equity share.
  3. INOX India IPO Date: The public offer, initiated on December 14, 2023, is scheduled to conclude on December 18, 2023, with bidding closing this evening.

Additional Information

  1. INOX India IPO Size: The company aims to raise ₹1,459.32 crore through this public issue, exclusively offered for sale (OFS).
  2. INOX India IPO Lot Size: Bidders can apply in lots, with one lot comprising 22 company shares.
  3. INOX India IPO Allotment Date: Following the T+3 listing rule, the probable date for share allocation is December 19, 2023.
  4. INOX India IPO Registrar: Kfin Technologies Limited serves as the official registrar for the public offer.
  5. INOX India IPO Listing: The public issue is slated for listing on both BSE and NSE.

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