The three mainboard IPOs—Xtranet Technologies, Indo-MIM, and Lohia Corp—closed for subscription earlier this week after receiving a healthy response across investor categories.
With the subscription process now complete, investors have shifted their focus to the stocks’ potential listing gains, which are often gauged through the grey market premium (GMP).
Although the GMP provides an indication of the likely listing price, it does not reflect the actual listing price, as it fluctuates daily based on market sentiment. Moreover, the grey market is an unofficial market, and the GMP should be viewed only as an early indicator rather than the sole basis for investment decisions.
Among the three IPOs, precision engineering components maker₹180 per share”> Indo-MIM is commanding the highest GMP at ₹180 per share, indicating a potential listing premium of 37% over its upper issue price of ₹485 per share.
Meanwhile, ₹13.5 per share”>Xtranet Technologies is trading at a GMP of ₹13.5 per share, suggesting a potential listing premium of 10.6% over its issue price of ₹127 per share.
Lohia Corp is indicating a relatively muted debut, with its GMP standing at ₹19 per share, implying a potential listing premium of 4.47% over the upper issue price of ₹425 per share.
All three mainboard IPOs are scheduled to list on tomorrow, 30 July.
Indo-MIM leads with the highest subscription
The strong grey market premium (GMP) for Indo-MIM reflects the robust investor response the IPO received during its subscription period from July 23 to July 27.
The ₹3,811-crore IPO was subscribed 72.37 times overall, attracting bids for 398.58 crore shares against 5.51 crore shares on offer.
The qualified institutional buyers (QIB) segment emerged as the biggest demand driver, subscribing 204.47 times on the final day. The non-institutional investor (NII) portion was booked 50.65 times, while the retail investors’ quota was subscribed 6.69 times.
The ₹166.80-crore IPO of Xtranet Technologies also received healthy investor interest, with the issue being subscribed 12.24 times overall. The retail portion was subscribed 9 times, while the NII segment was booked 26.65 times. The QIB portion received 7.13 times subscription.
The initial public offering (IPO) of Lohia Corp was subscribed 7.26 times by the close of bidding. The ₹1,101.28-crore IPO, which remained open between July 23 and July 27, received bids for 10.41 crore shares against 1.43 crore shares on offer, according to exchange data.
Among investor categories, the QIB portion was subscribed 9.11 times, followed by the NII segment at 6.82 times, while the retail portion was booked 2.78 times.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
