Shares of Indo-MIM made a stellar debut on the stock exchanges as the stock listed at a 45% premium over the issue price on Thursday, July 30, after receiving strong investor demand during the initial public offering subscription. The stock listed at Rs 700 on the NSE, a 44.3% premium to its issue price of Rs 485. On the BSE, shares were listed at Rs 703, a premium of 45%.
Ahead of the listing, shares of Indo-MIM were commanding a grey market premium (GMP) of Rs 187 per share, indicating a strong listing. The highest GMP recorded for Indo-MIM IPO was Rs 190, when the public issue had closed for subscription. Indo-MIM IPO was open for subscription from July 23 to July 27, while the allotment status was finalised on July 28.
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Indo-MIM IPO Details
The bidding for the mainboard IPO commenced on July 23, Thursday, and concluded on July 27, Monday. Indo-MIM IPO IPO allotment was on July 28, Tuesday. Indo-MIM IPO price band was set at Rs 461 to Rs 485 per share. The company intends to utilise Rs 400 crore from the fresh issue proceeds to reduce debt, with the remaining amount earmarked for general corporate purposes. As of May 2026, Indo-MIM's consolidated borrowings stood at Rs 1,212.3 crore.
The company raised Rs 3,811.21 crore from the book-building issue, which is a combination of fresh issue of 1.03 crore equity shares worth Rs 499.10 crore, and an offer for sale (OFS) of 6.83 crore shares aggregating to Rs 3,311.21 crore. Indo-MIM IPO was subscribed 72.34 times in total, according to NSE data. Prior to the IPO opening, Indo-MIM raised Rs 1,141 crore from anchor investors.
The Retail Individual Investors (RII) segment was booked 6.67 times, while the Non-Institutional Investors (NII) portion was subscribed 50.63 times. The Qualified Institutional Buyers (QIBs) category received 204.34 times subscription. HDFC Bank Ltd. was the book running lead manager and MUFG Intime India Pvt. Ltd. is the Indo-MIM IPO registrar. Founded in 1996, Indo-MIM is a global manufacturer of precision engineering components using Metal Injection Moulding (MIM) technology.
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