The initial public offer (IPO) of Cryogenic tank maker Inox India is set to launch on December 14 and will remain open for subscription until December 18. The allocation of shares to anchor investors will take place on December 13. Inox India filed draft papers for the IPO in August and received approval earlier this month. The IPO consists of an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each. The price band for the issue will be announced soon. Qualified institutional buyers will have access to 50% of the offer, while retail investors and non-institutional investors will have access to 35% and 15% respectively. As the issue is an OFS, the company will not receive any proceeds from the IPO, and all funds will go to the selling shareholders.
