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The Economic Times
The Economic Times
Ritesh Presswala

Indo-MIM IPO: Issue booked 53% so far on Day 1 as NIIs drive demand; GMP at 38%

GMP INDO MIM IPO INDOMIM SBI Securities

Indo-MIM Ltd.'s Rs 3,811.21-crore initial public offering (IPO) kicked off its IPO bidding process on a strong note as the issue was subscribed 53% as of 1:10 PM on Thursday.

Based on the current GMP, the company's shares are estimated to list at around Rs 670 per share, compared with the upper issue price of Rs 485. However, investors should note that the grey market is unofficial, and GMP is only an indicator of investor sentiment, not a guarantee of listing gains.

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