INOX India Limited IPO Opens for Subscription: Latest Updates and Expert Recommendations
INOX India Limited's IPO is open for subscription, presenting investors with an opportunity in the cryogenic equipment market.
The initial public offering (IPO) of INOX India Limited has commenced its subscription phase, providing investors with an opportunity to delve into the cryogenic equipment maker and supplier's public issue. The subscription window is open until December 18, and INOX India aims to mobilize ₹1459.32 crore through the 100% offer for sale (OFS).
As of the first day of bidding, INOX India shares are generating substantial interest in the grey market, commanding a premium of ₹330, according to reports from Mint, HT's sister publication.
Subscription Status: As of 10:39 am, the book build issue has achieved a subscription rate of 0.23 times. Notably, the retail portion and the non-institutional investor (NII) portion have recorded subscription rates of 0.37 times and 0.22 times, respectively, as reported by Mint.
To Subscribe or Not? Expert Recommendations: Amit Goel, co-founder and Chief Global Strategist at Pace 360, offers a positive stance, recommending a 'subscribe' tag for the INOX India IPO. According to Goel, the company presents an enticing investment opportunity, given its impressive growth in both topline and bottom-line figures. He emphasizes a positive outlook for continued growth in the foreseeable future.
Goel suggests that investors could potentially target listing gains of approximately 60%, with an expected listing price ranging between ₹1050 to ₹1080.
Similarly, both BP Equities and Swastika Investmart have also endorsed a 'subscribe' recommendation for this public issue.
INOX India Limited IPO: Key Details:
- Price Band: The IPO offers equity shares in the price range of ₹627 to ₹660.
- Lot Size: A single lot comprises 32 company shares available for bidding.
- Important Dates: Opening on December 14, closing on December 18, tentative share allocation on December 19, and tentative stock exchange listing on December 21.
- Official Registrar: KFin Technologies Limited
Disclaimer: The opinions expressed by individual analysts or broking companies are their own. Investors are advised to consult certified experts before making any investment decisions.
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