Indo-MIM Soars on Debut: 44% Premium Ignites Stock Market

Indo-MIM commenced trading on the stock market on July 30, with shares opening at ₹700 on the NSE, a significant 44.33% increase from its initial public offering price of ₹485. This strong debut surpassed expectations, as the grey market premium had indicated a listing around ₹669.

The IPO garnered substantial investor interest, achieving an overall subscription of 72.37 times. Qualified institutional buyers showed immense demand, subscribing their portion 204.47 times. Non-institutional investors subscribed 50.65 times, and the retail investor segment saw a 6.69 times subscription.

The ₹3,810.31 crore public issue was structured as a fresh issue of equity shares and an offer for sale. Indo-MIM intends to utilize ₹400 crore from the net proceeds of the fresh issue to repay outstanding borrowings, with the balance allocated to general corporate needs.

Founded in 1996, Indo-MIM is a manufacturer of precision engineering components employing metal injection molding technology. The company has diversified its offerings to include investment casting, precision machining, and 3D metal printing, serving various critical sectors like automotive, aerospace, and medical.