Three IPOs, one deadline. Which issue is generating the buzz before subscriptions close?

The clock is ticking for primary market investors. Three IPOs that together aim to mobilise over Rs 5,000 crore are entering their final day of subscription today. A few hours left to submit their applications for three public issues.

The subscription window closes today for Indo-MIM, Lohia Corp and Xtranet Technologies. While all three companies belong to different industries. 

One is commanding a strong grey market premium (GMP), another has seen GMP cool off sharply, while the third continues to trade with modest listing expectations.

So, where does each IPO stand on its final day? Here’s a look at the latest GMP, key dates and other important details investors should know before the bidding window closes.

Indo-MIM IPO

Indo-MIM IPO remains in the spotlight. The company plans to raise Rs 3,811.21 crore through a combination of a fresh issue worth Rs 499.10 crore and an offer for sale worth Rs 3,311.21 crore.

The IPO has been priced in the range of Rs 461-485 per share, with a minimum application size of 30 shares.

ALSO READ

The public issue closes today, while the allotment is expected on July 28. Shares are tentatively scheduled to list on both the National Stock Exchange (NSE) and the BSE on July 30. 

Furthermore, HDFC Bank is the book-running lead manager, while MUFG Intime is acting as the registrar.

The grey market continues to remain positive. As of July 27, the IPO is trading at a GMP of around Rs 198 per share, indicating an estimated listing price of about Rs 683 against the upper price band of Rs 485. That translates into an estimated premium of nearly 41%.

During the subscription period, the highest recorded GMP touched Rs 213, while the lowest stood at Rs 168.

Lohia Corp IPO

The second issue closing today is Lohia Corp, which is looking to raise Rs 1,101.28 crore entirely through an offer for sale.

The IPO carries a price band of Rs 404-425 per share.

Like Indo-MIM, the issue closes today, with allotment expected on July 28 and a tentative listing date of July 30. Equirus Capital is the book-running lead manager, while MUFG Intime is the registrar.

The IPO currently commands a GMP of only around Rs 3 per share, implying a likely listing price of about Rs 428. This is just around 1% above the upper price band.

ALSO READ

Earlier during the subscription period, the GMP touched a high of Rs 56 before gradually declining.

Xtranet Technologies IPO

The third IPO closing today is Xtranet Technologies, which plans to raise Rs 166.80 crore through a completely fresh issue.

The company has fixed its price band at Rs 120-127 per share.

The issue also closes today, while allotment is expected on July 28. Shares are likely to debut on the exchanges on July 30. Share India Capital Services is the book-running lead manager, while KFin Technologies is the registrar.

The latest grey market premium stands at around Rs 9 per share, suggesting an estimated listing price of nearly Rs 136, or about 7% above the upper price band.

During the IPO period, the GMP touched a high of Rs 26, while the lowest recorded premium was Rs 7.5.

Why should investors track GMP carefully?

Grey market premium (GMP) is not an official measure and should not be treated as a guarantee of listing gains.

The premium changes almost every day depending on market conditions, subscription demand and overall investor sentiment. As a result, the final listing price can differ significantly from the prevailing GMP.

As the three IPOs close today, investors now await subscription data, allotment status and listing performance over the coming days. 

Disclaimer: This article is for informational purposes only and does not constitute financial advice, an offer, or a solicitation to subscribe to any initial public offering (IPO). Grey market premium (GMP) indicators are unofficial, highly speculative, and do not guarantee actual listing performance or future returns. Primary market investments carry market risks, and prospective investors should carefully review the official Red Herring Prospectus (RHP) and consult a SEBI-registered financial advisor before making any investment decisions. This disclaimer has been generated using AI to support user well-being and responsible content consumption.