- Indo-MIM shares listed at Rs 700 on NSE, Rs 703 on BSE.
- Debuted over 44% higher than IPO issue price of Rs 485.
- Stock traded nearly 2% higher than its listing price.
Indo-MIM Limited shares made a stellar debut on stock exchanges on Thursday--listed at Rs 700, up 44.29 per cent from the IPO issue price of Rs 485 on the NSE. At BSE, the Indo-MIM Ltd share price started trading at Rs 703, up 44.94 per cent.
In early trade, the stock was trading nearly 2 per cent higher than the listing price and over 46 per cent higher than the IPO's issue price. Last seen, Indo-MIM shares were trading at Rs 722, up Rs 19, or 2.70 per cent, on the BSE. On NSE, the scrip was quoted at 710.65, up Rs 10.65 or 1.52 per cent.
The listing holds the market expectations as the company shares were trading nearly 45 per cent higher in the grey market. Additionally, the IPO got massive attention from investors, getting 72.73 times the bids against the total issued shares.
The IPO of Precision engineering components maker Indo MIM Ltd had a price band of Rs 461-485 per share for its Rs 3,812 crore initial public offering (IPO). It was open for subscription between July 23 to July 27.
IPO Comprises
The IPO of the Bengaluru-headquartered company includes a fresh issue of up to Rs 500 crore of equity shares and an offer for sale (OFS) of about 68.3 million equity shares by existing shareholders.
Green Meadows Investments Ltd, Anuradha Koduri, and the Indian Institute of Technology Madras shares have been sold in the OFS. At the upper end of the price band, the IPO size is estimated at around Rs 3,812 crore, while at the lower end it is estimated at around Rs 3,648 crore.
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About Company
Started in 1996, Indo MIM manufactures precision engineering components using metal injection moulding (MIM) technology and provides end-to-end manufacturing solutions.
For FY26, the company reported revenue from operations of Rs 4,193 crore and profit after tax of Rs 533 crore.