3 Indian IPOs Close: Indo-MIM Poised for Strong Listing Gains
By IPO Desk
Three Indian IPOs, including Indo-MIM, Xtranet Technologies, and Lohia Corp, close today. Indo-MIM shows strong investor interest and a high grey market premium, anticipating significant listing gains.
Three Indian Initial Public Offerings (IPOs) — Indo-MIM, Xtranet Technologies, and Lohia Corp — close for subscription today. Indo-MIM leads with a significantly higher grey market premium (GMP) and stronger investor interest compared to the other two issues.
Indo-MIM Leads with Strong GMP
Indo-MIM is positioned for an expected listing gain of nearly 39%. The issue commanded a significant premium in the grey market, reflecting robust investor demand ahead of its official listing.
- GMP: Rs 190
- Issue Price Range: Rs 461 to Rs 485 per share
- Estimated Listing Price: Around Rs 675
- Subscription (Day 2): 3.08 times overall
Xtranet Technologies Sees Moderate Interest
Xtranet Technologies showed moderate investor interest, with its grey market premium indicating a much smaller potential gain. Retail investors notably drove a significant portion of its subscription.
- GMP: Rs 9
- Upper Issue Price: Rs 127 per share
- Estimated Listing Price: Around Rs 136
- Expected Listing Gain: Just over 7%
- Subscription (Day 2): 1.96 times overall
- Retail Subscription: 2.50 times
- QIB Segment: Remained below the one-time mark
Lohia Corp Struggles for Demand
Lohia Corp recorded the weakest demand among the three IPOs closing today. Its grey market premium suggests minimal listing gains, with overall subscription remaining below full capacity.
- GMP: Rs 7
- Issue Price Range: Rs 404 to Rs 425 per share
- Estimated Listing Price: Around Rs 432
- Expected Listing Gain: About 1.65%
- Subscription (Day 2): Only 0.59 times overall
Company Profiles
The three companies represent diverse sectors within the Indian economy. Indo-MIM, established in 1996, specializes in precision engineering components using metal injection molding (MIM) technology and advanced manufacturing solutions.
Xtranet Technologies, founded in 2002, delivers integrated IT solutions covering enterprise applications, digital transformation, and managed services. Lohia Corp, meanwhile, faced challenges in attracting significant investor interest during its public offering period.