Indo-MIM IPO: GMP Signals 34% Listing Premium; Rs 3,810-Crore Issue Enters Second Day

Indo-MIM's Rs 3,810.31-crore IPO, which was fully subscribed on Day 1, entered its second day of bidding with the grey market premium (GMP) holding at Rs 166, implying a potential listing gain of about 34% based on the upper price band. The IPO closes for subscription on July 25.

The IPO has been booked 1.72 times so far on Friday, with investors bidding for 9,47,96,040 shares against the 5,50,93,201 shares on offer. The subscription in the IPO is led by NIIs who have subscribed 4.70 times their allotted quota.

Indo-MIM is among the world's largest manufacturers using Metal Injection Moulding (MIM) technology, supplying components to automotive, aerospace, defence and medical industries.

Here's everything investors need to know as bidding for the IPO enters Day 2.

Indo-MIM IPO GMP Today

According to InvestorGain, Indo-MIM IPO's latest grey market premium (GMP) stood at Rs 166 as of the latest available update. At a GMP of Rs 165, the estimated listing price works out to around Rs 651 against the upper issue price of Rs 485, implying a potential gain of about 34.23%.

Note: Investors should note that grey market premiums are unofficial and can change sharply before listing.

Indo-MIM IPO Details

The Indo-MIM IPO comprises:

• Fresh issue: 1.03 crore equity shares worth Rs 499.10 crore
• Offer for Sale (OFS): 6.83 crore equity shares worth Rs 3,311.21 crore

The total issue size stands at Rs 3,810.31 crore.

The price band has been fixed at Rs 461-485 per share.

The minimum bid size for retail investors is 30 shares, requiring an investment of Rs 14,550 at the upper end of the price band.

HDFC Bank Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar to the issue.

Day 1 Subscription Status: The IPO was booked 1.13 times on Thursday, with investors bidding for 6,22,65,960 shares against the 5,50,93,201 shares on offer.

Non-Institutional Investors (NIIs) led demand with a 3.03 times subscription, while the retail portion was subscribed 0.86 times and the Qualified Institutional Buyers (QIB) category 0.18 times.

Indo-MIM IPO: Allotment And Listing Date

The share allotment status is expected to be finalised on July 28, while the shares are tentatively scheduled to list on the NSE and BSE on July 30.

Indo-MIM IPO: Use Of Proceeds

The company plans to utilise the net proceeds from the fresh issue primarily towards repayment or prepayment of certain outstanding borrowings.

Indo-MIM Financial Performance

The company reported robust FY26 growth, with revenue rising 28% and profit after tax increasing 26% year-on-year.

For FY26, Indo-MIM reported:

• Total income: Rs 4,320.70 crore, compared with Rs 3,373.97 crore in FY25
• Profit after tax (PAT): Rs 533.54 crore, up from Rs 423.73 crore
• EBITDA: Rs 1,070.92 crore versus Rs 932.60 crore a year earlier

Indo-MIM Business

Founded in 1996, Indo-MIM is a precision engineering company specialising in metal injection moulding (MIM) technology. It offers end-to-end manufacturing solutions, including product design, tooling, moulding, finishing and assembly.

The company serves customers across sectors such as automotive, defence, aerospace, medical and consumer products. During FY26, Indo-MIM manufactured more than 6,400 products.

Disclaimer: Investments in IPOs are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.

Source: NDTV Trending