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IPO Race: Indo-MIM Leads, Others Lag Behind
28 Jul
Summary
- Indo-MIM shows highest grey market premium of Rs 190.
- Xtranet Technologies IPO lists with a modest 7% gain.
- Lohia Corp IPO faces weak demand with only 1.65% gain.
Three initial public offerings (IPOs) are closing for subscription today, with investor sentiment appearing to favor Indo-MIM significantly over Xtranet Technologies and Lohia Corp. The grey market premium (GMP), an unofficial indicator of market demand, reveals Indo-MIM commanding a Rs 190 premium, suggesting an approximate listing price of Rs 675 and an estimated 39% gain.
Xtranet Technologies, priced between Rs 461 to Rs 485, shows a much lower GMP of Rs 9, predicting a listing around Rs 136, which translates to a modest 7% gain. Lohia Corp's IPO, with a price range of Rs 404 to Rs 425, has the weakest market sentiment, indicated by a Rs 7 GMP and an expected listing gain of only 1.65%.
Indo-MIM, founded in 1996, specializes in precision engineering components using metal injection molding. Xtranet Technologies, established in 2002, provides integrated IT solutions. Lohia Corp manufactures machinery for the plastics processing industry. While GMP offers a glimpse into market demand, investors are advised to consider financial performance and growth prospects before making investment decisions.
