INOX India Limited Makes Strong Stock Market Debut, Shares Open at a Premium of 44%

21 Dec 2023 , 09:45 AM

INOX India Limited, recognized for its INOXCVA brand and expertise in cryogenic equipment and system design, engineering, manufacturing, and installation, marked a successful debut on the stock exchanges. The company’s shares were listed on both BSE and NSE on December 21, revealing a notable premium of 44%.

On the National Stock Exchange (NSE), the shares of INOX India opened at Rs 949.65, reflecting a premium of 43.89% over the issue price of Rs 660. Similarly, on the Bombay Stock Exchange (BSE), the shares opened at Rs 933.15, indicating a premium of 41.39%.

INOX India showcased strong financial performance during the fiscal year 2022-2023, reporting a 17% increase in net profit, reaching Rs 152.71 crore. Additionally, the company achieved substantial revenue growth, recording a 23.4% rise to Rs 965.9 crore. These positive financial indicators underscore INOX India’s robust position in the cryogenic equipment sector.