Inox India IPO Enters Stock Market: Listing on BSE, NSE on December 21 - What the Grey Market Premium Indicates

Inox India, a prominent cryogenic tank manufacturer, is set to make its debut on the stock exchanges on December 21, following the successful closure of its initial public offer (IPO). With an overwhelming response from investors, the IPO was subscribed 61.28 times on the final day, drawing significant attention to its listing.

Inox India's Expertise: Boasting over 30 years of experience, Inox India specializes in providing comprehensive solutions in the design, engineering, manufacturing, and installation of equipment and systems tailored for cryogenic conditions. Their offerings encompass standard cryogenic tanks and equipment, customized technologies, and large-scale turnkey projects across diverse industries such as industrial gases, LNG, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, and construction.

Grey Market Premium (GMP): As anticipation builds for Inox India's listing, the grey market is abuzz with trading activity. Currently, the shares are commanding a premium of ₹480, slightly below the issue price of ₹660. Market speculations hint at an expected listing price of ₹1,140, reflecting a substantial 72.73% increase over the issue price.

IPO Subscription Journey: The Inox India IPO opened for subscription on December 14 and concluded on December 18. The share allotment process was finalized on December 19. Notably, the IPO garnered immense interest from investors, receiving bids for 94,84,24,268 shares against the offered 1,54,77,670 shares on the last day. Institutional buyers played a pivotal role, leading to a subscription of 61.28 times on the final day, after witnessing a seven-fold subscription on the second day.

Conclusion: As Inox India prepares to join the stock market, all eyes are on its listing performance. With a strong subscription journey and market enthusiasm, the company is poised for an exciting debut, offering investors a glimpse into the promising future of the cryogenic industry.