Neutral impactIPO
Indo-MIM IPO: Issue booked 1.4x on Day 2; Check GMP, dates, other key details
Economic Times 1 hr ago·24 Jul 2026, 6:10 am
Indo-MIM's Rs 3,811-crore initial public offering (IPO) received strong interest in its second day of bidding, with the issue subscribed 1.40 times. The surge was primarily driven by non-institutional investors (NIIs), who bid for 3.85 times the offered quantity. Retail investors fully subscribed their portion, while qualified institutional buyers (QIBs) have yet to participate significantly. The company, a key supplier to the automotive sector, set its price band at Rs 461-485 per share.
For investors, the high demand from NIIs suggests strong confidence from high-net-worth individuals. The IPO closes on July 27 and is set to list on the stock exchanges on July 30. The grey market premium (GMP), which indicates market expectations before listing, is currently at Rs 75, implying a potential listing gain of around 15-16% if the market sentiment remains positive.
Investors should watch the final subscription numbers, especially the response from QIBs, as their participation will be crucial for the stock's listing performance. Market volatility and the broader auto sector trend will also be key factors to consider before the stock hits the markets.
Key takeaways
- Category: IPO.
Why it matters
A routine update. Use the price and stock snapshot to gauge how the market is responding.
