INOX India IPO listing date today. GMP, experts predict strong debut of shares
INOX India IPO: Listing date of initial public offering (IPO) of INOX India Limited has been fixed on 21st December 2023 i.e. today. As per the information available on BSE website, INOX India share price will list on BSE and NSE in special pre open session during Thursday deals. INOX India shares will be listed in ‘B’ group of securities.
“Trading Members of the Exchange are hereby informed that effective from Thursday, December 21, 2023, the equity shares of INOX India Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B ‘ Group of Securities,” BSE notice said.
INOX India IPO listing date and time
So, those looking for INOX India IPO listing date and time, the public issue will list on BSE and NSE on 21st December 2023. Shares of the company will become available for trade at 10:00 AM whereas the issue will list in pre listing session at around 9:45 AM.
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According to stock market experts, INOX India IPO receivd strong response by investors despite its valuations were fully priced. However, market mood may play a spoiler and it may receive some dent due to strong sell off in secondary market on Wednesday. However, they maintained that INOX INdia IPO listing price would take place at healthy premium.
Stock market said that an allottee may expect up to 80 per cent premium against the issue price of ₹627 to ₹660 provided there is trend reversal on Dalal Street. Otherwise, the stock may end up listing around ₹1,000 levels.
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INOX India IPO listing price
On expected INOX India IPO listing price, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “The public issue received strong response from investors despite higher valuations. But, the volatility in the secondary market witnessed on Wednesday may dent the party, which was visible on Wednesday morning. If there is trend reversal during morning deals on Thursday session, then INOX India IPO listing price can be expected at a premium of around ₹350 with 5 per cent deviation on either side.”
However, some experts still believe that INOX India IPO listing price would ne at healthy 75 per cent or above.
Expecting over 75 per cent listing premium from INOX India IPO listing, Prashanth Tapse, Senior Vice President — Research at Mehta Equities said, “On ample liquidity along with strong subscription demand, INOX India is expected to see a solid listing premium over and above 75% gain against the issue price of ₹660/- per share. Despite valuations being fully priced into all near term growth, a solid listing is justified on the back of the company’s strategic position in the niche market with global footprint and commitment to innovations which is commanding higher valuation multiple.”
Expecting 80 per cent listing gain for allottees, Parth Shah, Research Analyst at StoxBox said, “After receiving a strong 61x oversubscription, Inox India Ltd IPO is all set to list on the bourses on Thursday. Looking at the subscription status, we expect the stock to list at a premium of around 80% over its issue price of Rs. 660 per share. Such strong listing can be attributed to Inox India’s consistent performance and growth over the years particularly seen in the revenue and EBITDA growth over the past three years.”
Meanwhile, grey market premium (GMP) of INOX India IPO has gone down in unlisted stock market. According to market observers, INOX India IPO GMP today is ₹525, which is ₹30 lower from its yesterday’s GMP of ₹555. This means, grey market is expecting that INOX India IPO listing price would be around ₹1,185 per share levels, which is around 80 per cent higher from INOX India IPO price band of ₹627 to ₹660 per equity share.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
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Published: 21 Dec 2023, 07:07 AM IST
