Inox India IPO Day 2: Check Live subscription details inside

15 Dec 2023 , 12:57 PM

The initial public offering (IPO) of INOX India (INOXCVA) witnessed a full subscription on the first day of bidding, with retail investors taking the lead, followed by robust participation from non-institutional investors (NIIs) subscribing 2.79 times. Click here to subscribe the IPO.

By 12:50 PM on the second day, high net-worth individuals (HNIs) and retail investors led the way, subscribing 8.90 times and 6.24 times against their allotted quotas, respectively. Qualified institutional buyers (QIBs) subscribed to 7% of the portion set aside for them.

The IPO, with a total offer size, is set at Rs 1,459.32 crore, and it consists only of an offer-for-sale (OFS) by existing shareholders. The Vadodara-based cryogenic tanks manufacturing company aims to raise funds through the IPO, with the price band for the offer fixed at Rs 627-660 per share.

Promoters Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, and Ishita Jain are among the selling shareholders in the OFS. Additionally, Manju Jain, Lata Rungta, Bharti Shah, Kumud Gangwal, Suman Ajmera, and Rajni Mohatta will also offload their shares in the OFS. The IPO is scheduled to close on December 18, 2023.