INOX India Secures Rs 437.8 Crore via Anchor Book Ahead IPO

13 Dec 2023 , 10:41 PM

INOX India, the leading manufacturer of cryogenic storage tanks, successfully raised Rs 437.8 crore from a diverse group of investors through its anchor book on December 13, a day before the opening of the InoxCVA IPO. The IPO subscription is scheduled to commence on December 14, with the closing date set for December 18.

Key Highlights:

• Anchor Book Allocation: 66,33,285 equity shares allotted at Rs 660 per share.
• Global Investors: Abu Dhabi Investment Authority, Nomura Trust, Goldman Sachs, Carmignac Portfolio, HSBC Global, Volrado Venture, and Natixis International Funds participated in the anchor book.
• Domestic Investors: SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Fidelity Funds, Ashoka Whiteoak, Nippon Life India, Kotak Mahindra Trustee, Axis Mutual Fund, Aditya Birla Sun Life Trustee, Sundaram Mutual Fund, HDFC Life Insurance, ICICI Prudential Life Insurance, Canara Robeco Mutual Fund, UTI Mutual Fund, and Tata Mutual Fund were among the participating asset management and insurance companies.

IPO Details:

• Issue Dates: December 14 to December 18, 2023.
• Price Band: Rs 627-660 per share.
• Issue Size: Rs 1,459.32 crore.
• Offer-for-Sale (OFS): 2.21 crore equity shares, with the entire net proceeds going to selling shareholders.

Promoters as Selling Shareholders: Promoters Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, and Ishita Jain, along with other individuals like Manju Jain, Lata Rungta, Bharti Shah, Kumud Gangwal, Suman Ajmera, and Rajni Mohatta, will participate in the OFS.

Book Running Lead Managers: ICICI Securities and Axis Capital have been appointed as the book running lead managers to the IPO.