Indo-MIM IPO oversubscribed 72.34 times, lists ₹700 NSE ₹703 BSE
Business
Indo-MIM Limited just made a splashy stock market debut, with its IPO getting oversubscribed by 72.34 times.
Shares started trading at ₹700 on NSE and ₹703 on BSE, way above the issue price range of ₹461 to ₹485.
If you're wondering, that's about a 45% premium, pretty impressive for day one.
Indo-MIM market cap hits ₹34,762.01cr
The company's market cap shot up to ₹34,762.01 crore after listing, beating even gray market predictions.
Indo-MIM raised ₹1,141 crore from anchor investors and plans to use part of it to pay off debts.
With India's manufacturing boom and global supply chain shifts in its favor, Mahesh M. Ojha says holding onto these shares could be smart for long-term gains.