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The Economic Times
The Economic Times
Ritesh Presswala

Indo-MIM IPO closes with over 72x subscription on Day 3, QIB portion booked 204x; GMP at 39%

IPO MIM INDO INDOMIM NSE SBI Securities

Indo-MIM's Rs 3,811.21-crore initial public offering (IPO) attracted robust investor demand on the third and final day of bidding on Monday, with the issue closing for public bidding after being subscribed more than 72 times its offer size. The strong momentum has been led by Qualified Institutional Buyers(QIBs), whose quota was booked a whopping 204 times, while the retail investor portion was subscribed nearly 7 times.

Adding to the optimism, the company's shares are commanding a grey market premium (GMP) of around Rs 190, implying a potential listing gain of nearly 39% over the upper end of the IPO price band.

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