Indo-MIM IPO Listing Tomorrow: GMP Signals Up To 37% Listing Gain; Should You Expect A Blockbuster Debut?

After recording a massive demand for the issue the Indo-MIM IPO is going to hit the dalal street tomorrow, July 30. During the three-day bidding window from July 23 to July 27, the issue was highly oversubscribed 72.37 times overall.

In the retail category, the public issue was subscribed 6.69 times, 204.47 times in QIB, excluding the Anchor investors and 50.65 times in the NII category by the end of the final subscription day on July 27.

Indo MIM IPO Details

The Rs. 3,811.21 crore issue is a combination of fresh issue of 1.03 crore shares worth Rs. 499.10 crores and offer for sale of 6.83 crore shares worth Rs.3,311.21 crores.

The allotment for the Indo-MIM IPO was finalised yesterday, Jul 28 and the listing date for the Indo-MIM IPO on the NSE and BSE has been fixed as Jul 30th.

The company has fixed the issue price band at Rs. 461 to Rs. 485 per share. The lot size for an application is 30 shares. The minimum amount of investment required by an individual retail investor is Rs.14,550

Before the issue opened for public bidding, the IPO received anchor investment of Rs. 1,140.99 crore from anchor investors on July 22nd.

Indo MIM IPO GMP Update

In the grey market, the issue has been receiving equally good demand since the IPO GMP is Rs.180 as of July 29.

If the current momentum sustains, the Indo-MIM IPO's estimated listing could be around Rs. 665, considering the upper price band of Rs. 485; hence, the expected profit per share is 37.11%.

About Indo MIM IPO

Indo-MIM is a Bengaluru-based precision engineering company that makes components using Metal Injection Moulding (MIM) technology. It was founded in 1996 and is described as a fully integrated parts producer with capabilities in design, tooling, materials, finishing, and assembly.
The company's Product Portfolio includes Automotive, Defence, Medical, Consumer, and Aerospace