INOX India IPO: GMP rises on strong subscription scenario. Should you apply as the auction ends today?

INOX INDIA IPO: The initial public offering (IPO) of INOX India Limited opened for subscription on 14 December 2023 and it will remain open till 18 December 2023. This means, investors have only one day to apply for the IPO while the bidding for the public issue will. end this evening. Cryogenic equipment manufacturers and supply companies have fixed the INOX India IPO price band at ₹627 to ₹660 per share. According to INOX India IPO subscription status, after two days of auction, the public issue has been subscribed 7.14 times.

At the same time, after two days of IPO subscription of India’s strong INOX, the gray market has increased further on public issues. According to stock market observations, the company’s shares are available at 560 per share, which is ₹230 higher than its GMP ₹330 on the opening date of his application. Therefore, after two days of application and the weekend, INOX India ipo gmp has increased from ₹330 to ₹560.

Here we list important INOX India IPO details:

1] INOX INDIA ipo gmp: The company’s shares are available at a special price ₹560 in the gray market today, market observers say.

2] India INOX IPO Price: The company fixed the INOX India IPO price band at ₹627 to ₹660 per share.

3] INOX India IPO Date: The public offering was opened on December 14, 2023 and it will remain open until December 18, 2023. This means, the auction for this public issue will end today evening.

4] INOX INDIA SIZE IPO: The company aims to raise ₹1,459.32 crore from this public issue, which is a complete natural OFS.

5]INOX India IPO lot size: Bidders will be able to submit requests in large numbers and one of the IPO includes 22 shares of the company.

6]INOX India IPO Allotment Date: According to T+3 listing rules, the probable date for allotment of shares is December 19, 2023.

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

8]INO India IPO List: A public issue is proposed for listing on BSE and NSE.

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9]INOX India IPO Registration Date: The expected date of listing is December 21, 2023.

INOX India IPO: Apply or not?

10]INOX India IPO Review: Giving a ‘subscription’ tag to the public issue, Marwadi Shares and Financials said, “Inox India Ltd. is the largest supplier of cryogenic equipment in India by revenue in fiscal 2023. Considering TTM (September 23) / FY24 annual EPS of ₹On 19.03/22.78 based on the latter issue, the company will be listed at a P/E of 34.68x/28.97x with market value. ₹59,904 n. There is no listed company in India that can be compared in all aspects of business and services provided by the company. Therefore, it is not possible to provide industry comparisons related to the company. We assign “Subscribe” to this IPO as the company is India’s leading distributor and exporter of cryogenic equipment and solutions with a large stock of specialized cryogenic equipment designed as per global quality standards. .”

Motilal Oswal also assigned a ‘book’ tag to the INOX India IPO stating, “We like Inox given its niche in cryogenic equipment, leading position, diversified portfolio and strong financials. It will benefit from the shift to cleaner fuels, higher investments. in the electronics/aerospace sector and improved revenue mix towards high-margin projects. The IPO is priced at 29x 1HFY24 P/E (on an annualized and diluted basis), which seems reasonable. Hence, we recommend to apply for membership . to be the first of its kind. And the potential market, the issue could see the benefits of signing as well.”

BP Equities, Canara Bank Securities, DR Choksey, Geojit Securities, Hem Securities, Indsec Securities, Mehta Equities, Nirmal Bang, SBI Securities, Swastika Investmart, Ventura Securities have also given a ‘book’ tag to the INOX India IPO while Sushil Finance has not yet.