Indo-MIM IPO opens July 23, 1.41x subscribed on 6.29cr shares
Indo-MIM's IPO opened on July 23 and kicked off with strong interest. It was subscribed 1.41 times by the end of day one, with investors bidding for 6.29 crore shares.
If you're curious or thinking about investing, the window stays open until July 27.
Non-institutionals 3.04x, retail 0.88x, institutions quiet
Non-institutional investors (think high-net-worth folks and companies) led the charge, subscribing 3.04 times their allotted shares.
Retail investors showed up too, though at a more modest pace (0.88 times), while big institutional players were pretty quiet so far.
Indo-MIM's ₹500-cr fresh issue for debt
The ₹3,812-crore IPO includes a fresh issue of ₹500 crore and a big offer for sale from existing shareholders like Green Meadows Investments and IIT Madras.
Most of the new funds will go toward paying off debt.
Allotment wraps up on July 28, with shares expected to hit accounts by July 29.