Inox India entered the secondary market today at a listing price of Rs. 949, a gain of around 43% over its issue price of Rs. 660. The IPO received a huge subscription of 61.28x. Though we can consider it a decent listing, it is still below expectations, and the reason behind this is poor market sentiment. Inox India is the leading cryogenic equipment supplier in India, benefiting from rising demand in sectors like healthcare, space exploration, and food processing. It boasts a diversified product portfolio and a strong order book. With strong fundamentals and a growing market, the company has the potential for long-term value creation; thus, we recommend holding it with a long-term view. Also, fresh buying at a lower level can be considered.
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