Inox India (InoxCVA) is expected to announce the allotment basis for its recently completed initial public offering (IPO) today. Investors who have applied for the issue could receive confirmation of allotment or revocation via messages, notifications or emails by Wednesday. The company's initial offering had received a strong response from investors. Inox India sold its IPO in the price band of Rs 627-660 per share. The lot size was 22 shares. The IPO took place from December 14th to 18th. The company raised around R1,459 crore from the UPI, which was strictly an offer for sale (OFS) for up to 22,110,955 shares. The issue was subscribed 61.28 times, with the Qualified Institutional Bidders (QIBs) portion subscribed 147.80 times. The quota reserved for non-institutional investors was subscribed 53.20 times. The quota reserved for private investors was subscribed 15.30 times. Inox India's gray market premium (GMP) remained stable thanks to strong QIB demand. It was last revealed that the unlisted stock fetched a premium of Rs 545-555 per share, indicating a stock market gain of 82-85 per cent for investors. This is in contrast to the GMP level of Rs 330-350 that was demanded before the tender process began. InoxCVA specializes in providing cryogenic tanks and equipment, beverage kegs, custom technology, equipment and turnkey projects. Its offerings target various industries, including industrial gases, liquefied natural gas, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aerospace, pharmaceuticals and construction. The brokerage firms were mostly positive about Inox India's issue and suggested underwriting the issue due to a niche business model, strong growth potential, increasing demand for its products and attractive valuations. ICICI Securities and Axis Capital acted as underwriters for Inox India's IPO, while Kfin Technologies was appointed as the registrar for the issue. The company's shares will be listed on both BSE and NSE with December 21, Thursday, as the tentative listing date. Investors who have opted for Inox India's issue can check the allotment status on the IPO application verification page of the BSE website. Check in equity, select “Inox India Limited” under “Issue Type” in the dropbox; Enter the application number and add the PAN card number before checking in at I am not a robot before clicking on the submit button. The allotment status can also be checked through the online portal of Kfin Technologies, the registrar for the issue. Visit the Kfin Tech web portal and select Inox India IPO from the dropbox. Enter either PAN Card Number, Application Number or DP Client ID as the selected tab and click on Search to get the quota status for your application.
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