INOX India IPO: Price band, GMP and other details

INOX India IPO Launch Date: INOX India Limited is set to launch its IPO with a price band of ₹627 to ₹660 per equity share, scheduled for subscription from December 14 to December 18. The IPO lot size is 22 equity shares, with multiples in the same increment.

The IPO comprises an offer for sale of up to 22,110,955 equity shares by selling shareholders, including the promoters Pavan Kumar Jain, Nayantara Jain, Siddharth Jain, Ishita Jain, and Manju Jain.

INOX India IPO details

The company, known for its brand INOXCVA in cryogenic equipment, saw a notable increase in net profit by 17% to ₹153 crore in FY23, accompanied by a revenue growth of 23% to ₹966 crore. However, there was a slight decrease in EBITDA margin from 23.47% to 22.62% in FY23. The total debt was reduced to ₹8.99 crore from ₹54.54 crore in the preceding year.

INOX India IPO Allocation

The IPO allocation reserves 50% for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors. Post-subscription, allotment will be finalized by December 19, refunds initiated on December 20, and shares credited to allottees' demat accounts on the same day. The listing is anticipated on December 21 on BSE and NSE.

The book-running lead managers are ICICI Securities Limited and Axis Capital Limited, while KFin Technologies Limited acts as the registrar.

INOX India IPO GMP

Regarding the market sentiment, the current grey market premium (GMP) for INOX India IPO is reported at ₹0, suggesting shares are trading at the issue price of ₹660 without any premium or discount, according to investorgain.com. Grey market premium indicates investors' willingness to pay above the issue price.