INOX India IPO: The initial public offering (IPO) listing date of INOX India Limited has been set on December 21, 2023, i.e. today. As per the information available on BSE website, INOX India share price will be listed on BSE and NSE in a special pre-open session during Thursday deals. INOX India shares are listed in securities group “B”.
Inox India share price live updates: GMP, experts predict strong debut
“Trading participants of the Exchange are hereby notified that the shares of INOX India Limited will be listed and admitted to trading in the 'B' Group of Securities List of the Exchange with effect from Thursday, December 21, 2023,” the BSE said -Notification said.
INOX India listing date and time
So if you are looking for INOX India IPO date and time, the public issue will be listed on BSE and NSE on December 21, 2023. The company's shares will be available for trading at 10:00 a.m. while the issue will be listed in the pre-listing session around 9:45 a.m.
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According to stock market experts, INOX India's IPO received strong response from investors despite valuations being fully priced in. However, market sentiment could prove disruptive and be somewhat impacted by the sharp sell-off in the secondary market on Wednesday. However, they maintained that INOX INdia's listing price would be at a healthy premium.
The exchange said a beneficiary can expect a premium of up to 80 percent over the issue price ₹627 to ₹660 assuming there is a trend reversal on Dalal Street. Otherwise, the stock could end up listing ₹1,000 levels.
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INOX India Listing Price
Commenting on the expected IPO price of INOX India, Arun Kejriwal, Founder, Kejriwal Research and Investment Services said, “The public issue received strong response from investors despite higher valuations that were visible on Wednesday morning. If there is a trend reversal during the morning trades on Thursday, a premium of around 1.5% can be expected in INOX India's IPO listing price ₹350 with 5 percent deviation on both sides.”
However, some experts still believe that INOX India's listing price would be a healthy 75 percent or more.
Prashanth Tapse, Senior Vice President – Research at Mehta Equities, expects INOX India's listing to attract a listing premium of over 75 per cent and said, “Due to ample liquidity and strong subscription demand, INOX India is expected to attract a robust listing premium of over 75% achieve.” % profit compared to the issue price of ₹660/- per share. While valuations fully discount any short-term growth, a solid listing is warranted given the company's strategic position in the niche market with global presence and commitment to innovation, which commands a higher valuation multiple.”
Parth Shah, Research Analyst at StoxBox, expects 80 per cent upside for participants and said, “After receiving a strong 61 times oversubscription, Inox India Ltd IPO is all set to go public on Thursday. Looking at the subscription status, we expect that.” The stock is trading at a premium of about 80% over the issue price of Rs 660 per share. This strong listing is due to Inox India's consistent performance and growth over the years, particularly as evidenced by its revenue and EBITDA growth over the last three years.”
Meanwhile, the gray market premium (GMP) of INOX India's IPO on the unlisted exchange has come down. According to market watchers, INOX India IPO GMP is today ₹525, that is ₹30 less than yesterday's GMP of ₹555. This means that the gray market believes that the listing price of INOX India will be around 555 ₹1,185 per share, which is around 80 percent higher than INOX India's IPO price range ₹627 to ₹660 per share.
Disclaimer: The views and recommendations expressed above are those of individual analysts or brokerage firms and not of Mint. We recommend investors consult certified experts before making an investment decision.
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