INOX India Launches IPO with High Expectations: Following in the footsteps of the Tata Group, another company has entered the stock market arena. With a keen eye on business and profits, experts are recommending investment in this venture. The IPO of a company collaborating with the Chandrayaan mission and ISRO opened on Thursday, December 14.
Experts and brokerage firms suggest that there is a high probability of a surge of over 60% in the shares on the listing day itself.
Important Dates
| IPO Open Date | Thursday, December 14, 2023 |
| IPO Close Date | Monday, December 18, 2023 |
| Basis of Allotment | Tuesday, December 19, 2023 |
| Initiation of Refunds | Wednesday, December 20, 2023 |
| Credit of Shares to Demat | Wednesday, December 20, 2023 |
| Listing Date | Thursday, December 21, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 18, 2023 |
Investor Anticipation for New Companies
Typically, investors in the stock market eagerly await the arrival of new companies. Companies must make their debut in the market through an Initial Public Offering (IPO) to step into the market.
INOX India, the company responsible for manufacturing cryogenic equipment for the Chandrayaan mission in collaboration with ISRO, has launched its IPO on December 14. Investors have the opportunity to invest in this until Monday, December 18.
Pricing and Investment Details
The company has set the initial price range for its shares between ₹627 and ₹660. Through the IPO, the company aims to raise ₹1,459.32 crores from the market. Retail investors need to make a minimum investment in a lot containing 22 shares, totaling at least ₹14,520.
Non-Institutional Investors (NII) are required to purchase a minimum of 14 lots, containing 308 shares, necessitating an investment of ₹203,280.
Potential Benefits at Listing
The shares of INOX India have entered the market with a face value of ₹2. In the grey market, these shares are trading at a premium of over 60%. Experts suggest that each share could potentially provide a benefit of ₹330 on the listing day. Therefore, retail investors stand to gain around ₹7,500 on the very day of listing.
Brokerage Recommendations
Brokerage firms such as ICICI Securities Limited and Axis Capital Limited are reportedly gearing up for the shares’ debut. Additionally, Kfin Technologies has completed its registration. Amit Goyal, Co-Founder and Chief Global Strategist at Pace 360, states that INOX India boasts 30 years of experience.
The company has seen a 17% increase in profits in 2022-23, accompanied by a 23.5% growth in revenue. With orders worth ₹1,036 crores from Indian and global markets, the IPO is expected to be listed between ₹1,050 and ₹1,080.
