The final day of bidding, December 18, saw 61.28 subscriptions to Inox India’s Rs 1,459.32 crore initial public offering. In contrast to the 1.55 crore share issue size, bids for 94.84 crore shares were received for the offer.
HNIs, or high net worth individuals, dominated the market, selecting 53.20 times the shares that were allocated to them. Qualified institutional buyers (QIBs) had 147.8 bookings, while the portion designated for retail investors was purchased 15.29 times.
QIBs will receive half of the offer size, HNIs will receive 15%, and retail investors will receive the remaining 35%.
The company that makes cryogenic tanks in Vadodara intends to raise Rs 1,459.32 crore through an initial public offering (IPO), which is essentially a sale. The offer’s price range is set at Rs 627–660 per share.
The selling shareholders are Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, and Ishita Jain, the promoters. In addition to them, the shares of Manju Jain, Lata Rungta, Bharti Shah, Kumud Gangwal, Suman Ajmera, and Rajni Mohatta will be sold.
On December 13, the company that provides cryogenic equipment and solutions, which serve a variety of industries including industrial gases, liquified natural gas, green hydrogen, energy, chemicals, aviation, and aerospace, raised Rs 437.8 crore through an anchor book at the upper price range.
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[…] final day of bidding, December 18, saw 61.28 subscriptions to Inox India’s Rs 1,459.32 crore initial public offering. In contrast to the 1.55 crore share issue size, bids for […]