IPO Wrap: Inox subscribed 61x, Muthoot Microfin is off to a good start

Inox India’s Rs 1,460 crore public issuance was subscribed nearly 61 times on the concluding day. The Gujarat-based firm had set the price band of Rs 627 to Rs 660 apiece. The institutional portion was subscribed nearly 148 times, with most of the bids coming on the last day. The retail portion was subscribed with a 15-times subscription, while the wealthy investor portion was subscribed 53.2 times.

On the other hand, the IPOs of three other companies opened for subscription on Monday. Muthoot Microfin’s Rs 960 crore issuance was 82 per cent full, with the retail investors' portion subscribed 1.38 times. However, the institutional portion remained unsubscribed on the first day.

Motisons Jewellers’ IPO saw an overwhelming response on the first day, with nearly 15 times subscriptions driven by demand from both retail and wealthy investors. The jewellery maker intends to raise Rs 151 crore through the fresh issuance.

Real estate player Suraj Estate, whose IPO is priced in the range of Rs 340-360 apiece, was also subscribed 72 per cent at the end of the first day. The retail portion was fully subscribed.

Meanwhile, the public issuance of RBZ Jewellers, Happy Forging, and Credo Brands will be open for subscription tomorrow.