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Indo-MIM IPO GMP jumps as bids book multiple times
In the grey market, Indo-MIM shares rose to ₹190 per share on day 3, while the public issue was booked 13.07 times by 1:03 PM.
Indo-MIM Ltd’s initial public offering has been attracting strong demand ahead of its listing, with grey market pricing moving higher over the past three days, according to LiveMint Markets.
Indo-MIM shares rose in the grey market from ₹166 to ₹190 per share, implying a grey market premium of ₹190 on day 3. The IPO, which opened on 23 July 2026 and runs until 27 July 2026, offers shares in a price band of ₹461 to ₹485, and the company plans to raise ₹3,811 crore through a mix of fresh shares and an Offer for Sale.
Bidding momentum has also been reported as robust. By 1:03 PM on day 3, the public issue had been booked 13.07 times, with the retail portion subscribed 4.63 times and the NII segment filled 35.28 times. The QIB portion was subscribed 11.26 times by that point.
LiveMint Markets also cited valuation context from Mahesh M. Ojha, Vice President of Research and Business Development at KC Securities. He said the company is valued at 45.0x FY26E P/E at the upper price band, based on diluted EPS of ₹10.87 as of March 31, 2026, and argued the valuation premium is linked to Indo-MIM’s position in metal injection moulding, a niche industry with high technological capabilities and entry barriers.