Inox India's stock market debut sees a robust start, listing at a 44% premium

Ix India shares me a stellar stock market debut on Thursday as stock opened for tring at Rs 933.15 on BSE compared to its initial public offering (IPO) price of Rs 660, marking an upside of 41.39 per cent. On National Stock Exchange, Ix India shares opened for tring at Rs 949.65, up 44 per cent from issue price.

Ix India shares were in very high demand during three-day share sale via IPO which ended on December 18. IPO was subscribed 61.28 times with qualified institutional buyers (QIBs) showing keen interest for its shares as portion reserved for m was subscribed 147.80 times. Pie set aside for n-institutional investors was booked 53.20 times and portion set aside for retail investors was booked 15.30 times.

company raised Rs 1,459 crore from IPO which was purely on offer for sale (OFS) by its shareholders.

company h reserved 30 per cent shares in IPO for anchor investors, 20 per cent shares were set aside for QIBs, 15 per cent shares were set aside for n-institutional investors and 35 per cent shares were set aside for retail investors.

Ix India sold shares in price band of Rs 627-660 per share and a retail investor was allowed to bid for minimum one lot of 22 shares up to maximum of 13 lots. One lot of Ix India shares was priced at Rs 14,520 at upper end of price band.

ICICI Securities Limited and Axis Capital Limited were among book running le manrs while Kfin Techlogies was registrar to issue.

Ix India Limited manufactures gases and supplies cryogenic equipment.

As of 10:07 am, Ix India shares rose as much as 48 per cent, from IPO price, to hit an intray high of Rs 978.90.