Indo-MIM IPO Subscribed 1.40 Times on Day Two; Issue Closes July 27
Key Takeaways
- •Indo-MIM's Rs 3,811-crore IPO achieved 1.40 times subscription by the second day of bidding.
- •Non-institutional investors led demand with their portion subscribed 3.85 times, while retail investors fully covered their allocation.
- •Qualified institutional buyers had not bid meaningfully as of the second day of the offering.
- •The company has set a price band of Rs 461 to Rs 485 per share for the issue.
- •The IPO closes on July 27 and shares are expected to list on July 30.
Indo-MIM's Rs 3,811-crore initial public offering was subscribed 1.40 times on the second day of bidding, according to The Economic Times.
Demand was led by non-institutional investors, whose portion was subscribed 3.85 times. The retail investor category was fully covered, while qualified institutional buyers had yet to bid meaningfully, the report said. IPO subscription data is typically tracked across investor categories because each bucket can show different levels of participation before the book closes.
The company, described as a metal injection molding component maker, has set a price band of Rs 461 to Rs 485 per share for the issue. The IPO is scheduled to close on July 27, with listing expected on July 30, making the final day of bidding the next key update for confirmed demand across categories.
The source report also identified Indo-MIM IPO subscription, grey market premium, IPO details, SBI Securities' view, use of IPO proceeds, financials and company background as key areas related to the offering. No additional figures for those sections were included in the provided text.
