Inox India IPO will be opened for public subscription between December 14 and December 18.
Unlisted shares of Inox India are currently trading Rs 150 higher in the grey market, which is a 22.73% listing gain as against its upper issue price of Rs 660
Inox India, one of the leading cryogenic tank manufacturers, on Monday announced the price band of its IPO at Rs 627-660 per share. The Inox India IPO will be opened for public subscription between December 14 and December 18. The Rs 1,459.32-crore IPO is entirely an offer for sale of 2.21 crore shares.
The Inox India IPO will likely be listed on December 21 on both BSE and NSE, while the share allotment might be finalised on December 19. The anchor book of the offer will open for a day on December 13
Inox India IPO GMP Today
According to market observers, unlisted shares of Inox India are currently trading Rs 150 higher in the grey market as compared with its issue price. The Rs 150 grey market premium or GMP means the grey market is expecting a 22.73 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Inox India IPO Details: Lot Size, Minimum Investment
The Rs 1,459.32-crore IPO is entirely an offer for sale of 2.21 crore shares by its existing shareholders and promoters. Its price band has been fixed at Rs 627 to Rs 660 per share. The minimum lot size for an application is 22 shares.
The minimum amount of investment required by retail investors is Rs 14,520. The minimum lot size investment for NII is 14 lots (308 shares), amounting to Rs 2,03,280, and for NII, it is 69 lots (1,518 shares), amounting to Rs 10,01,880.
ICICI Securities Limited and Axis Capital Limited are the book running lead managers of the Inox CVA IPO, while Kfin Technologies Limited is the registrar for the issue.
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.
Source: News18