New Delhi, Jul 27 (PTI) The initial public offer of precision engineering components maker Indo-MIM Ltd got subscribed 72.34 times on the final day of bidding on Monday.
The company’s IPO received bids for 3,98,55,10,020 shares against 5,50,93,201 shares on offer, according to NSE data.
The quota for Qualified Institutional Buyers (QIBs) received a whopping 204.34 times subscription. The category for non-institutional investors attracted 50.63 times subscription, and that of retail investors received 6.67 times subscription.
The initial public offering of Indo-MIM Ltd was fully subscribed on Thursday, the first day of bidding.
Indo-MIM Ltd has mobilised about Rs 1,141 crore from anchor investors.
The public issue is priced in the range of Rs 461-485
per share.
The Bengaluru-headquartered company’s IPO comprised a fresh issue of equity shares worth up to Rs 500 crore and an Offer-for-Sale (OFS) of around 6.83 crore equity shares by existing shareholders.
At the upper end of the price band, Indo-MIM is valued at nearly Rs 24,000 crore.
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.
The company’s equity shares are proposed to be listed on the BSE and NSE on July 30.
HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital Company and SBI Capital Markets are the book-running lead managers to the issue. PTI SUM SUM MR
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