After 95x subscription, Innokaiz India shares nearly double on listing day

Innokaiz India’s IPO received a total subscription of 95.08 times between April 28 and May 3, driven by strong demand from retail and non-institutional investors. The QIB portion was subscribed almost 24 times while the retail part was subscribed 46.10 times and the NII part 303 times. The Chennai-based company, which offers event management, corporate giving, advertising, marketing, and e-commerce services, became the 435th company to list on the SME platform of BSE. The IPO consisted of a fresh issue offering 27.13 lakh equity shares and was issued at a price band of INR 76 -78/share.