Inox India shares debut at 44% premium over the IPO price

Inox India shares listed at the national stock exchange (NSE) at a 44% premium compared to its IPO price. The shares debuted at a price of Rs 949.65 as against the IPO price of Rs 660 a piece. The scrip was listed at a price of Rs 933.15 on the BSE - a 41% premium.

A scrip is a substitute or alternative to legal tender that entitles the bearer to receive something in return.

Inox India IPO Performance

Ahead of the listing, the cryogenic cylinder maker in the grey market was commanding a premium of Rs 440 per share which will be about 67% increase for the investors.

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However, poor sentiment in the Dalal street has brought down the company's premium in the unofficial market was around Rs 540-550 apiece on Tuesday.

The IPO price band was fixed at Rs 627-660 per share with a lot size of 22 shares.

The company raised a little more than Rs 1,459 crore from its primary offering, which was entirely an offer for sale (OFS) of up to 2,21,10,955 equity shares.

The issue was overall subscribed 61.28 times as the portion for qualified institutional bidders (QIBs) was booked 147.80 times, while the non-institutional investors' category was subscribed 53.20 times. The quota reserved for retail investors was subscribed 15.30 times during the three-day bidding process. The bidding was open from December 14 to 18.

InoxCVA specializes in providing cryogenic tanks and equipment, beverage kegs, customized technology, equipment, and turnkey projects. Its offerings cater to various industries, including industrial gases, liquefied natural gas, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals, and construction.