Global Markets
Home›Global Markets›Emerging Markets›Indo-MIM IPO sets price band at ₹461 to ₹485 per share
Indo-MIM IPO sets price band at ₹461 to ₹485 per share
The company plans to raise ₹500 crore via a fresh issue and schedule subscription from July 23 to July 27, with allotment and refunds in late July.
Indo-MIM Limited has set its initial public offering price band at ₹461 to ₹485 per equity share, with a subscription period scheduled for Thursday, July 23 through Monday, July 27. Anchor investor allocation is set for Wednesday, July 22, followed by basis of allotment on Tuesday, July 28, refunds on Wednesday, July 29, and likely listing on BSE and NSE on Thursday, July 30.
The IPO includes a fresh issue of equity shares worth ₹500 crore and an offer for sale by existing shareholders and promoters of up to ₹3,312 crore. As part of the OFS, Green Meadows Investments plans to sell 6.05 crore shares, with Anuradha Koduri and the Indian Institute of Technology Madras (IIT Madras) set to offload 54.59 lakh shares and 23.07 lakh shares, respectively.
Share allocations include not more than 50% reserved for qualified institutional buyers, not less than 15% for non-institutional investors, and at least 35% for retail investors. Indo-MIM also said it revised the IPO size, cutting the fresh issue to ₹500 crore from an initially proposed ₹1,000 crore and scaling down the OFS from 12.96 crore equity shares.
Indo-MIM intends to use ₹400 crore from the net proceeds of the new issue to pay off debts, with the remainder for general corporate purposes. According to LiveMint Markets, the company reported total consolidated borrowings of ₹1,212.3 crore as of May 2026, and at the upper end of the price band is expected to command a post-listing market capitalization of about ₹23,981.4 crore.