The ₹3,811.21 crore Indo-MIM IPO is set to debut on NSE and BSE today, July 30, following a highly successful public offering. According to reports from Goodreturns, the issue was oversubscribed 72.37 times during its three-day bidding window from July 23 to July 27. The retail category saw subscription of 6.69 times, while the QIB category was 204.47 times subscribed, excluding anchor investors. The NII category achieved 50.65 times subscription by the final day.
As reported by Goodreturns, the IPO comprises a fresh issue of 1.03 crore shares worth ₹499.10 crores and an offer for sale of 6.83 crore shares worth ₹3,311.21 crores. The company has set the issue price band at ₹461 to ₹485 per share with a lot size of 30 shares. The minimum investment requirement for retail investors stands at ₹14,550. The allotment was finalized on July 28, with the issue receiving anchor investment of ₹1,140.99 crore from anchor investors on July 22.
According to Goodreturns, the grey market premium (GMP) stands at ₹180 as of July 29, indicating strong investor interest. The current momentum suggests an estimated listing price of around ₹665, considering the upper price band of ₹485. This translates to an expected profit per share of 37.11% for investors who subscribed at the issue price. However, The Economic Times reports that Indo-MIM shares extended their post-listing rally on Friday, rising nearly 5% to ₹776.90 and climbing over 60% above the ₹485 IPO price in two sessions.
As reported by The Economic Times, Indo-MIM shares extended their post-listing rally on Friday, rising nearly 5% to ₹776.90 and climbing over 60% above the ₹485 IPO price in two sessions. Analysts at Swastika Investmart recommend partial profit booking while advising long-term holders to maintain a stop-loss in the ₹595-600 range. The strong post-listing performance demonstrates continued investor confidence in the precision engineering company's growth prospects.
As reported by Goodreturns, Indo-MIM is a Bengaluru-based precision engineering company that specializes in components using Metal Injection Moulding (MIM) technology. Founded in 1996, the company operates as a fully integrated parts producer with capabilities spanning design, tooling, materials, finishing, and assembly. The company's product portfolio includes Automotive, Defence, Medical, Consumer, and Aerospace segments.
