Inox India’s initial public offering (IPO) witnessed a staggering subscription rate of 13.67 times on the conclusive day, accompanied by a surge in the grey market premium. The Gujarat-based entity is divesting its shares within the pricing bracket of Rs 627-660 per share, featuring a lot size of 22 shares and subsequent multiples.
• The Inox India IPO sustained its appeal to investors throughout the final day.
• The subscription tally reached 7.07 times at the conclusion of the second day.
• The pricing band was established at Rs 627-660, with a lot size of 22 equity shares.
The IPO, amounting to Rs 1,459.32 crores, demonstrated robust interest from investors, notably from the retail and non-institutional segments, on the conclusive day of the bidding process. The subscription metrics indicated a 2.79 times oversubscription by the end of day one, escalating to a substantial 7.07 times by the conclusion of day two.
The Gujarat-based Inox India is presenting its shares in the pricing range of Rs 627-660 each, with a lot size of 22 shares and multiples thereafter. The three-day bidding window for this IPO concludes on Monday, December 18. Noteworthy is the fact that the offering exclusively consists of the sale of up to 22,110,955 equity shares.
Analyzing the data reveals that investors tendered bids for 21,15,32,222 equity shares, marking a 13.67 times oversubscription compared to the 1,54,77,670 equity shares on offer for subscription as of 12:30 pm on Monday, December 18. The bidding window for the IPO concludes today.
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