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Business News/ Markets / Stock Markets/  Inox India IPO: Here are 10 things to know before subscribing to the issue
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Inox India IPO: Here are 10 things to know before subscribing to the issue

INOX India IPO GMP today price or grey market premium was ₹400, which meant shares were trading at the premium price of ₹400.

Inox India IPO (Reuters)Premium
Inox India IPO (Reuters)

The initial public offering (IPO) of Inox India will open for subscription on December 14 and will close on December 18.  It is a book-built issue of 1,459.32 crores and is entirely an offer for sale of 2.21 crore shares.

Incorporated in 1976, Inox India Limited manufactures and supplies cryogenic equipment. As per the red herring prospectus (RHP), the promoters are Pavan Kumar Jain, Nayantara Jain, Siddharth Jain, and Ishita Jain. The selling shareholders include Siddharth Jain (up to 10,437,355 equity shares), Pavan Kumar Jain (up to 5,000,000 equity shares), Nayantara Jain (up to 5,000,000 equity shares), Ishita Jain (up to 1,200,000 equity shares), and Manju Jain (up to 230,000 equity shares). 

In an interview with Moneycontrol today, Siddharth Jain, promoter and non-executive director of the company, said, "We have a very healthy balance sheet. We are debt free. We have about 220 crores in cash. We've been funding all our capex internally, including our working capital requirements. The primary reason for doing this IPO and doing an OFS is the fact that we don't need any capital in the company at this point. But we do want visibility. And you know, since exports is a very, very core component of, our strategy going forward to being a publicly listed company certainly will help us as we try and gain market share in the global economy in cryogenics."

INOX India IPO GMP today

INOX India IPO GMP today price or grey market premium was 400, which meant shares were trading at the premium price of 400 , as per investorgain.com. This means that the listing price of the issue could be 1,060, which is 60.61% higher than the issue price.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Here’s a 10 important factors to consider before you subscribe the Inox India IPO –

Inox India IPO date - The issue will open for subscription on December 14, 2023 and will close on December 18, 2023.

Inox India IPO price - The price band is set at 627 to 660 per share.

Inox India IPO size -  It is a book-built issue of 1,459.32 crores and is entirely an offer for sale of 2.21 crore shares.

Inox India IPO reservation -  The INOX India IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. 

Inox India IPO Lot size - The minimum lot size for an application is 22 Shares. The minimum amount of investment required by retail investors is 14,520. 

Inox India IPO promoter holding - The promoters of the company are Pavan Kumar Jain, Nayantara Jain, Siddharth Jain and Ishita Jain.

Inox India IPO registrar - ICICI Securities Limited and Axis Capital Limited are the book running lead managers of the issue, while Kfin Technologies Limited is the registrar for the issue.

Inox India IPO allotment date - The  basis of allotment of shares will be finalised on Tuesday, December 19 and the company will initiate refunds on Wednesday, December 20, while the shares will be credited to the demat account of allottees on the same day following refund. 

Inox India IPO listing date - The shares are likely to be listed on BSE and NSE on Thursday, December 21. 

Inox India IPO objective - The company expects that the proposed listing of its equity shares will enhance the visibility and brand image as well as provide a public market for the shares in India. The selling shareholders will be entitled to the entire offer proceeds after deducting the offer expenses and relevant taxes.

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Published: 14 Dec 2023, 06:14 AM IST
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