Last day of bidding for INOX India IPO, 82% GMP, will the company make money? Know the advice of brokerage firm

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INOX India IPO: Today is the last chance to invest in the IPO of cryogenic tank maker Inox India. Cryogenic equipment manufacturer and supplier company has fixed the price range of Inox India IPO at ₹ 627 to ₹ 660 per equity share. The company is looking to raise Rs 5,990 crore through IPO. This IPO is completely in offer for sale. However, after this, the promoters’ stake in the company will come down from 99.3 percent to 75 percent. There is a lot of movement regarding IPO in the gray market. Today the shares of the company are being given a premium of Rs 560 i.e. more than Rs 82. According to this, it is likely to be listed at Rs 660+560 i.e. Rs 1220. As of 10:12 am on the third day of bidding, the public issue has been subscribed 7.95 times while its retail portion has been subscribed 8.75 times. The NII portion of the public offer was subscribed 16.17 times while the QIB segment received 0.41 times the bids of its original offer.

Important Inox India IPO Details

1. Inox India IPO GMP: Market observers say that the company’s shares are available at a premium of ₹ 560 in the gray market today.

2. Inox India IPO Price: The company has fixed the price range of Inox India IPO at ₹ 627 to ₹ 660 per equity share.

3. Inox India IPO date: The public offer opened on 14 December 2023 and will remain open till 18 December 2023. This means that the bidding for this public issue is going to end today evening.

4. Inox India IPO size: The company aims to raise ₹1,459.32 crore from this public issue, which is a compound OFS in nature.

5. Inox India IPO Lot Size: One bidder will be able to apply in one lot and one lot of the IPO will include 22 shares of the company.

6. Inox India IPO Allotment Date: In view of the T+3 listing rule, the most likely date for share allotment is December 19, 2023.

7. Inox India IPO Registrar: Kfin Technologies Limited has been appointed as the official registrar of the public offering.

8. Inox India IPO Listing: The public issue is proposed to be listed on BSE and NSE.

9. Inox India IPO listing date: The probable date of share listing is 21 December 2023.

What do experts say

Motilal Oswal has also given ‘Subscribe’ tag to Inox India IPO. In this, the firm has said that we like Inox given its presence in cryogenic equipment, leading position, diverse portfolio and strong financial position. It will benefit from the shift to cleaner fuels and higher investment. Improvement in revenue mix for more high margin projects in electronics/space sectors. The IPO is priced at 29x 1HFY24 P/E (on annualized and diluted basis), which seems reasonable. Therefore, we recommend taking a subscription. Considering it is the first listing of its kind and given the buoyancy in the market, the issue may also see listing gains.

what is ipo

The full name of IPO is Initial Public Offering. It is a financial process in which a private company decides to issue an offer of its stock to investors in the open market. This is the first time for the company when it goes to sell its shares in the open market. When a company issues an IPO, it publicizes its shares and gives investors the opportunity to buy its shares. Through IPO, the company makes its stock available to investors through public and news media so that they can buy it. Through IPO, the company mostly tries to attract new investors for its stock and through this the company collects most of the capital to fulfill its development and financial plans. This is an attractive option for investors because it offers them the opportunity to own a public company.

Gray market is the market for second hand IPO.

Gray market can be called in simple words the second hand market of IPO. This means that after the IPO is issued, instead of buying directly from the stock market, you buy the IPO from an investor who has already invested in the company. The biggest problem in this gray market is that the sellers, brokers and traders working in it are not registered anywhere. There are no rules and regulations in this market. Business is done only on trust and personal interaction. At the same time, if money gets stuck, you have to do the recovery yourself.

,Disclaimer: The views and recommendations given above are those of individual analysts or broking companies. We advise investors to do their due diligence and seek advice from certified experts before taking any investment decision.,

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