INOX India IPO: Firm mobilises ₹438 crore from anchor investors ahead of issue
INOX India IPO: INOX India has raised ₹437.8 crore from anchor investors ahead of its IPO subscription opening for bidding. INOX India initial public offering (IPO) will open for subscription on Thursday, December 14, and close on Monday, December 18. The INOX India IPO price band has been set in the range of ₹627 to ₹660 per equity share of the face value of ₹2.
The leading manufacturer of cryogenic storage tanks said that it has finalised allocation of 66,33,285 equity shares to anchor investors at a price of ₹660 per equity share. “12 mutual funds have applied through a total of 28 schemes,” said INOX India in a statement on December 13.
Global investors including Nomura Trust, Carmignac Portfolio, Abu Dhabi Investment Authority, Natixis International Funds, Goldman Sachs, Volrado Venture, and HSBC Global, invested in the company through the anchor book.
Domestic investors such as asset management and insurance companies also participated in the anchor book including HDFC Mutual Fund, Ashoka Whiteoak, Kotak Mahindra Trustee, SBI Mutual Fund, HDFC Life Insurance, ICICI Prudential Mutual Fund, Nippon Life India, UTI Mutual Fund, HDFC Life Insurance Company, ICICI Prudential Life Insurance, among few others.
INOX India IPO Details:
The company intends to raise money through its public offer, which will include an offer for sale (OFS) of up to 22,110,955 equity shares (with a face value of ₹2) made by selling shareholders, including the promoter and other selling shareholders. INOX India IPO is a book built issue of ₹1,459.32 crores The issue is entirely an offer for sale of 2.21 crore shares.
Also Read: INOX India IPO announces price band at ₹627-660 per share: GMP, issue details, more
The INOX India IPO lot size is 22 equity shares and in multiples of 22 equity shares thereafter. The book-running lead managers (BRLM) of the INOX IPO are ICICI Securities Limited and Axis Capital Limited. The registrar of the INOX IPO is KFin Technologies Limited.
The INOX India IPO has reserved not more than 50 per cent of the shares in the public issue for qualified institutional buyers (QIB), not less than 15 per cent for non-institutional Institutional Investors (NII), and not less than 35 per cent of the offer is reserved for retail investors.
Promoters Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, and Ishita Jain are the selling shareholders in the OFS. Apart from them, Manju Jain, Lata Rungta, Bharti Shah, Kumud Gangwal, Suman Ajmera, and Rajni Mohatta will also offload their shares in the OFS.
INOX India Limited has been providing solutions for over 30 years, spanning the areas of cryogenic equipment and system design, engineering, manufacturing, and installation. In the cryogenic equipment sector, it has established the well-known brand INOXCVA.
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Published: 13 Dec 2023, 09:45 PM IST
