Indo-MIM Ltd is set to finalize the basis of allotment for its ₹3,811-crore initial public offering (IPO) today, July 28, 2026, following a strong response from investors. The IPO, which was open for subscription from July 23 to July 27, attracted overwhelming interest, closing with an overall subscription rate of 72.37 times the shares offered.
Key Details
The bidding process saw significant participation from qualified institutional buyers (QIBs), who subscribed 204.47 times their portion of the offering. Non-institutional investors (NIIs) also showed strong demand, with a subscription rate of 50.65 times, while retail investors subscribed at a rate of 6.69 times. The company offered 5,50,74,644 shares, receiving bids for 3,98,58,76,230 shares in total, according to Livemint.
Market observers noted that Indo-MIM shares were trading at a grey market premium (GMP) of approximately ₹190 per share earlier this week. Based on the upper end of the IPO price band at ₹485 per share, this suggests an estimated listing price of around ₹675, indicating a potential listing gain of 39.18%. However, it is important to note that grey market prices are unofficial and can fluctuate based on market sentiment.
Background
Investors can check their allotment status through the registrar MUFG Intime India’s portal or on the official BSE and NSE websites. Refunds and credit of shares to successful applicants are expected on July 29, with the company's shares scheduled to debut on both exchanges on July 30. For more details on upcoming IPOs, see Nine IPOs Set to Launch Next Week, Raising ₹11,365 Crore.
The strong subscription rate and high grey market premium for Indo-MIM's IPO could lead to increased interest in similar offerings and boost market sentiment for new listings. Investors will watch for the debut of Indo-MIM shares on July 30, which will be a key indicator of market reception for the IPO.