The Indo-MIM Initial Public Offering (IPO) is set to list on the exchanges on July 30. After attracting strong demand during the subscription period and completing the allotment process, the public issue is now set to make its stock market debut.

The shares of Indo-MIM are set to list on both the National Stock Exchange (NSE) and the BSE on July 30.

As the listing date is near, many applicants are now checking whether they have received shares. At the same time, the grey market continues to indicate expectations of a strong listing, although these unofficial signals can change before trading begins.

How can investors check their IPO allotment?

The IPO allotment has already been finalised. Now, applicants can verify their status through multiple platforms.

Those who applied through the National Stock Exchange can visit the exchange’s IPO bid verification page, select the Indo-MIM issue, enter their Permanent Account Number (PAN) and application details, and view the allotment status.

Applicants can also check through the BSE by selecting the equity issue category, choosing Indo-MIM from the list, entering either the application number or PAN, completing the verification process and submitting the request.

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Another option is the official website of MUFG Intime India, the registrar to the issue. Investors can select the Indo-MIM IPO, choose whether they want to search using their PAN, application number or Demat account details, and submit the required information to know whether shares have been allotted.

Indo-MIM IPO: GMP trends 

Ahead of the listing, Indo-MIM continues to command a healthy premium in the grey market.

The latest Grey Market Premium (GMP) is around Rs 183 per share, slightly lower than the previous session’s Rs 190.

As of the latest GMP, the estimated listing price works out to around Rs 668 per share, compared with the upper issue price of Rs 485. This translates to an expected premium of nearly 38% over the issue price.

However, it is important to remember that the grey market premium is unofficial. This is because it changes every day depending on market sentiment. The actual listing price may be higher or lower than the prevailing GMP.

Indo-MIM IPO: Subscription recap

The Indo-MIM IPO was subscribed 72.34 times overall, with bids received for nearly 398.55 crore shares against an offer size of about 5.51 crore shares.

The strongest demand came from Qualified Institutional Buyers (QIBs), whose portion was subscribed 204.34 times. The Non-Institutional Investor (NII) category received subscriptions of 50.63 times, while the Retail Individual Investor (RII) segment was subscribed 6.67 times. The employee quota was subscribed 9.44 times.

Indo-MIM IPO: A quick look at the IPO

The Bengaluru-based company had fixed the IPO price band at Rs 461-485 per share.

The public issue consisted of a fresh issue worth Rs 500 crore along with an Offer for Sale (OFS) of around 6.83 crore equity shares by existing shareholders.

Before opening for public subscription, the company had also raised around Rs 1,141 crore from anchor investors.

With allotment now complete and the listing scheduled of the company is scheduled for July 30.