INOX India shares debut with nearly 44% premium
The Hindu
INOX India Ltd's stock lists 44% premium on BSE & NSE, market valuation at ₹8,522.24 crore. OFS subscribed 61.28 times.
Shares of cryogenic tank maker INOX India Ltd on Thursday listed with a premium of nearly 44% against the issue price of ₹660.
The stock made its debut at ₹933.15, up 41.38% from the issue price on the BSE. Later, it jumped 48.31% to ₹978.90.
At the NSE, the stock listed at ₹949.65, rallying 43.88%.
The company's market valuation was ₹8,522.24 crore during the morning trade.
The ₹1,459.32-crore initial share sale of INOX India Ltd got subscribed 61.28 times on the last day of bidding on Monday, with huge participation coming in from institutional buyers.
The initial public offer of up to 22,110,955 equity shares had a price range of ₹627-660 a share.
Since the issue was completely an Offer for Sale (OFS), the Vadodara-based company will not receive any proceeds and all the funds will go to the selling shareholders.
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