Indo-MIM Limited, a prominent manufacturer of precision engineering components, is set to finalize the basis of allotment for its Initial Public Offering (IPO) today, July 28. The IPO, which concluded its bidding phase on July 27, garnered a robust response from investors.
IPO Details and Subscription Overview
The Indo-MIM IPO was open for subscription from July 23 to July 27, offering shares in a price band of Rs 461-485 per share. The company aimed to raise Rs 3,811 crore through the offering, which included a fresh issue of Rs 499 crore and an Offer For Sale (OFS) of shares worth Rs 3,311 crore.
The issue was significantly oversubscribed by 72.34 times, attracting nearly 50.79 lakh applications. Qualified Institutional Bidders (QIBs) led the charge with a subscription of 204.34 times. Non-Institutional Investors (NIIs) subscribed 50.63 times, while the retail portion saw bids for 6.67 times its allocated shares. The employee portion was booked 9.44 times.
Grey Market Premium (GMP) and Listing Expectations
Despite the strong subscription, Indo-MIM's Grey Market Premium (GMP) has shown some correction amidst volatile market sentiments. The latest reports indicate a discount of Rs 195-200 per share, suggesting a potential listing gain of approximately 40% for investors. During the bidding phase, the company's GMP was reportedly above Rs 200 per share.
How to Check Indo-MIM IPO Allotment Status
Successful bidders will likely receive messages, alerts, or emails regarding the debit of their funds by Wednesday, July 29. Shares of Indo-MIM are scheduled for listing on both the BSE and NSE on Thursday, July 30.
Investors can verify their allotment status through several platforms:
1. On the BSE Website:
- Visit the official BSE investor service page: bseindia.com/investors/appli_check.aspx
- Under 'Issue Type', select 'Equity'.
- From the 'Issue Name' dropdown, choose 'Indo-MIM Limited'.
- Enter your application number.
- Input your PAN card ID.
- Complete the 'I am not a Robot' captcha and click 'Search'.
2. On the NSE Website:
- Go to the NSE investor portal: nseindia.com/invest/check-trades-bids-verify-ipo-bids
- Select 'Equity & SME IPO Bid details'.
- Under 'Select Symbol', choose 'INDOMIM'.
- Enter your PAN No. and Application No.
- Click 'Submit' to view your status.
3. Via the Registrar's Portal (MUFG Intime India):
MUFG Intime India is the official registrar for the Indo-MIM IPO. Their portal will also host the allotment status:
- Navigate to the MUFG Intime India web portal: in.mpms.mufg.com/Initial_Offer/public-issues.html
- Select the IPO/FPO name from the dropdown menu (this option will become available once the allotment is finalized).
- Choose one of the three verification modes: Application number, Demat Account number, or PAN ID.
- If prompted, select 'ASBA' or 'non-ASBA' for the application type.
- Enter the required details based on your chosen mode.
- Fill in the security captcha accurately.
- Click 'Submit' to retrieve your allotment information.
Indo-MIM, established in 1996, specializes in metal injection molding (MIM) technology, offering comprehensive solutions from mold design to final assembly across various industries.