Cryogenic equipment manufacturer Inox India has decided to launch its initial public offering on December 14. This would be the third IPO opening for subscription next week after Doms Industries and India Shelter Finance Corporation.
The anchor book of the public issue will be opened for a day on December 13, while the offer will be closing on December 18. The price band for the offer will be announced on December 11.
The maiden public issue by InoxCVA consists of only an offer-for-sale of 2.21 crore shares by existing shareholders including promoters.
Siddharth Jain, Pavan Kumar Jain, Nayanatara Jain, Ishita Jain, and Manju Jain are amongst selling shareholders in the OFS.
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Hence, the entire issue proceeds, excluding IPO expenses will go to selling shareholders, while the company will not get any money from the issue.
The Gujarat-based company that caters to diverse industries such as industrial gases, LNG, green hydrogen, energy and steel will finalise the basis of allotment of IPO shares by December 19, while the equity shares will be credited to demat accounts of successful investors by December 20.
The trading in equity shares willl commence on the BSE and NSE with effect from December 21.
ICICI Securities and Axis Capital are the merchant bankers to the issue.
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