INOX India IPO Oversubscribed 61.28 Times on the Final Day of the Offering.
The ₹1,459.32 crore initial public offering (IPO) of INOX India Ltd, a manufacturer of cryogenic tanks, was oversubscribed by 61.28 times on the final day of bidding on Monday, driven by significant participation from institutional buyers.
The Initial Public Offering (IPO) witnessed a total demand for 94,84,24,268 shares against the available 1,54,77,670 shares, according to NSE data. The segment designated for Qualified Institutional Buyers (QIBs) experienced an impressive 147.80 times oversubscription, while non-institutional investors subscribed 53.20 times. The portion allocated for Retail Individual Investors (RIIs) was oversubscribed by 15.29 times.
The initial public offering comprised up to 22,110,955 equity shares with a price range of ₹627-660 per share. INOX India garnered ₹438 crore from anchor investors on Wednesday. As the issue was exclusively an Offer for Sale (OFS), the Vadodara-based company will not receive any proceeds, with all funds directed to the selling shareholders. INOX India, a prominent cryogenic tank manufacturer with over 30 years of experience, specializes in providing solutions in the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions.