Inox India raises Rs.438-Cr from anchor investors

Inox India has raised INR 438 crore from anchor investors by allocating 66.33 lakh shares at INR 660 apiece. Investors included SBI MF, ICICI MF, HDFC MF, Fidelity, ADIA, Nomura, Goldman Sachs, Nippon MF, Axis MF, HSBC, Sundaram MF and 3P India Equity Fund. Inox India, one of the leading cryogenic tank manufacturers, has over 30 years of experience offering solutions across the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions. The issue is completely an offer for sale (OFS) of 2.21 crore shares (Face Value of INR 2 each) by Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, Ishita Jain, Manju Jain and Lata Rungta among others. ICICI Securities and Axis Capital are the book-running lead managers to the issue.