The initial public offering (IPO) of INOX India, a leading manufacturer of cryogenic equipment, was a huge success. The IPO was oversubscribed by 51.22 times, receiving bids for 1.24 billion shares against the offer size of 24.24 million shares.
The company had fixed the price band of the IPO at ₹575-585 per share and raised ₹300 crore from anchor investors before the public issue.
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If you have applied for the INOX India IPO, you might be wondering how to check your allotment status. Here are the steps to follow:
Step 1: Visit the BSE website
Go to the BSE website and select ‘Equity’ in the issue type. Then, enter ‘INOX India’ in the issue name and click on ‘Search’.
Step 2: Enter your application details
You will see a screen where you can enter your application number and PAN number. Alternatively, you can also enter your DP ID/Client ID or account number. After entering the details, click on ‘Submit’.
Step 3: View your allotment status
You will see a screen that shows the number of shares you have applied for, the number of shares you have been allotted, and the amount that will be deducted from your bank account.
If you have received the allotment, you will see the message ‘Congratulations’. If you have not received the allotment, you will see the message ‘Sorry’.
You can also check your allotment status on the website of the registrar, KFin Technologies. You will need to select ‘INOX India’ from the drop-down menu and enter your application number or DP ID/Client ID.
What to do next?
If you have received the allotment, you can expect the shares to be credited to your demat account by March 23, 2023. The listing of the shares on the stock exchanges is expected to happen on March 25, 2023.
If you have not received the allotment, you can expect a refund of your application money by March 22, 2023.
INOX India is a part of the INOX Group, which also owns INOX Leisure, a leading multiplex chain, and Gujarat Fluorochemicals, a producer of refrigerants and fluoropolymers. The company has a market share of over 60% in the domestic cryogenic equipment industry and exports its products to over 100 countries.
The company plans to use the net proceeds of the IPO for capital expenditure, working capital requirements, and general corporate purposes. The IPO was managed by Axis Capital, ICICI Securities, and IIFL Securities.
