Shares of INOX India made a remarkable debut on December 21, catapulting to a 43% premium, albeit falling short of analysts’ projections of a 75% premium. Initiating trading at Rs 949.65, the stock surpassed the IPO price of Rs 660.
Analysts attributed the slightly lower premium to the prevailing subdued market momentum.
During the subscription period from December 14 to 18, the INOX India IPO garnered an impressive 61.28 times oversubscription.
Investors across diverse categories contributed to this success, with Qualified Institutional Buyers (QIBs) taking the lead by subscribing a whopping 147.80 times their allotted quota. High Net Worth Individuals (HNIs) and retail investors also displayed substantial interest, subscribing 53.20 times and 15.3 times their respective portions.
