Indo-MIM shares were listed on the exchanges at a decent premium on Thursday, following a 72.34 times subscription in the primary market between July 23-27. The issue was fully subscribed on the first day of bidding, amid strong investor interest.
Shares of the Bengaluru-headquartered INDO-MIM were listed at Rs 700 per share on the NSE, a strong premium of 44.33 percent. The Rs 3,812.11-crore initial public offering (IPO) had a price band of Rs 461-485 per share.
On the BSE, the shares of precision engineering components maker were listed at Rs 703 per share, a premium of 44.95 percent. The company's market capitalisation post listing of shares stood at Rs 34,762.01-crore.
Indo-MIM market debut was better than the expectations in the grey market, which had anticipated a listing gain of around 38 percent.
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Mahesh M. Ojha, VP – Research & Business Development at Kantilal Chagganlal Securities Pvt. Ltd., said "Investors receiving allotment may consider holding the stock for the long term to benefit from the company's scalable growth opportunities."
Indo-MIM Limited is the global leader in Metal Injection Moulding (MIM) with the world's largest installed MIM capacity and is a preferred supplier to several global OEMs.
The global MIM market is expected to grow from USD 3.2 billion in 2026 to USD 4.7 billion by 2035 (4.4% CAGR), while Indo-MIM is well positioned to benefit from the China+1 manufacturing shift, India's supportive policy environment, PLI incentives, and robust manufacturing growth. Compared with its closest global peer, which trades at over 148x P/E, Indo-MIM's valuation remains reasonable, Ojha added.
Earlier, the company had mobilised about Rs 1,141 crore from anchor investors.
The company plans to utilise Rs 400 crore from the fresh issue proceeds towards pre-payment or repayment of certain outstanding borrowings, while the remaining amount will be used for general corporate purposes.
Incorporated in 1996, Indo MIM manufactures precision engineering components using Metal Injection Molding (MIM) technology and provides end-to-end manufacturing solutions.