Inox India IPO: Issue subscribed 2.79 times on day 1; retail, NII portion oversubscribed

The INOX India IPO lot size is 22 equity shares and in multiples of 22 equity shares thereafter. 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.

On day 1, Inox IPO’s retail investors portion was subscribed 3.61 times, NII portion was subscribed 4.57 times, and QIB portion is booked 4%.

Also Read: INOX India IPO fully subscribed: GMP, subscription status, review, other details. Buy or not?

Inox India IPO subscription status

Inox India IPO has received bids for 4,32,42,408 shares against 1,54,77,670 shares on offer, according to data from the BSE.

Inox IPO retail investors’ portion received bids for 2,78,99,564 shares against 77,38,835 shares on offer for this segment.

Inox India IPO’s non-institutional investors’ portion received bids for 1,51,45,328 shares against 33,16,644 on offer for this segment.

Inox IPO’s QIBs portion received bids for 1,97,516 shares against 44,22,191 shares on offer for this segment.

Also Read: INOX India IPO opens: 10 key risks from RHP to consider before subscribing

INOX India IPO details

The company intends to raise money through initial public offerings, which will include an offer for sale of up to 22,110,955 equity shares (with a face value of 2) made by selling shareholders, including the promoter and other selling shareholders.

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).

Also Read: Inox India IPO: Here are 10 things to know before subscribing to the issue

The book-running lead managers (BRLM) of the INOX IPO are ICICI Securities Limited and Axis Capital Limited. The registrar of the INOX IPO is KFin Technologies Limited.

Also Read: INOX India IPO announces price band at 627-660 per share: GMP, issue details, more

Inox India IPO GMP today

Inox India IPO GMP today or grey market premium is +455. This indicated Inox India share price today are trading at a premium of 455 in the grey market, according to

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Inox India share price was indicated at 1,115 apiece, which is 68.94% higher than the IPO price of 660.

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

Also Read: INOX India IPO: Firm mobilises 438 crore from anchor investors ahead of issue

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 14 Dec 2023, 05:42 PM IST

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