Inox India GMP: What to expect from listing on Thursday
Considering the upper price band of Rs 660, the stock is likely to get a robust premium of 75% over the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
«Given the positive secondary market environment and ample liquidity along with strong subscription demand, Inox India is expected to see a solid listing premium over and above 75% gain,» said Prashanth Tapse of Mehta Equities.
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Despite valuations being fully priced into all near-term growth, analysts believe the solid listing is justified on the back of the company's strategic position in the niche market with global footprint.
«With strong fundamentals and a growing market, Inox India has potential for long-term value creation,» said Shivani Nyati of Swastika Investmart.
The IPO of Inox India was subscribed 61 times at close, driven by strong interest from qualified institutional buyers.
The category reserved for retail investors was subscribed 14.82 times, while the NII portion garnered bids of 52.97 times. The category reserved for the QIBs was subscribed by a massive 147.8 times.
Inox India, one of the leading cryogenic tank manufacturers, has over 30 years of experience offering solutions across the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions.
The company has an order book of Rs 1,036 crore.
