INOX India has announced its initial public offering (IPO), releasing the details of its price band and bidding dates and listing dates. The price band of the issue has been set in the range of ₹672 to ₹660 apiece.
Potential subscribers will have a window of three days to bid for the shares of INOX India, with the bidding set to open on December 14, Thursday, and will be closing on December 18, Monday. Further, the allocation date for anchor investors will take place on December 13, Wednesday.
The price band of INOX India IPO has been set at ₹627-660 per equity share with the face value of ₹2. Meanwhile, the floor price is 313.5 times the face value of the equity shares. The lot size of INOX IPO has been fixed at 22 equity shares, or in multiples of 22.
This means that if one chooses to subscribe to the issue, they should have a minimum investment of ₹13,794, if calculated using the lower price band (627×22). Here is all you need to know about the INOX India IPO.
INOX India IPO: Date, time, GMP, price band and more
INOX India IPO will go live on December 14, at around 9:15 am when the markets open for the day. Subscribers will be able to bill till December 18 till 3:30 pm approximately, when the markets close.
According to the tentative dates, INOX India will be releasing the allotment list for shares on December 19, and the firm is expected to issue the refund list by December 20. It is expected that the refund will be credited to the user’s demat account the same day.
The shares of INOX India will likely be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on December 21. The company will issue offer for sale (OFS) of up to 22,110,955 equity shares in its IPO.
The IPO size of INOX India is over ₹1459 crore, while the grey market premium of the company remains stable at 200 before the issue opens. However, experts maintain that the rate of GMP has no impact on the performance of the IPO.