Indo-MIM IPO allotment: Step-by-step guide to check status, fresh GMP, listing date & more

Indo-MIM is likely to finalize the basis of allotment of its shares on Tuesday, July 28. Applicant bidders will get the messages, alerts or emails for debit of their funds by Wednesday, July 29. The precision engineering player saw a bumper response from the investors during the three-day bidding process.

The IPO of Indo-MIM was open for bidding between July 23-27. It had offered its shares in the price band of Rs 461-485 per share with a lot size of 30 shares. The company eyed to raise a total of Rs 3,811  crore via IPO, which included a fresh share sale of Rs 499 crore and an offer-for-sale (OFS) of up to 6,82,91,022 shares worth Rs 3,311 crore.

The issue was overall subscribed a solid 72.34 times with nearly 50.79 lakh applications, fetching bids for Rs 1.98 lakh crore. The portion for qualified-institutional bidders (QIBs) was subscribed 204.34 times. The quotas for non-institutional investors (NIIs) and retail bidders were subscribed at 50.63 times and 6.67 times, respectively. The employee portion was booked 9.44 times.

Based on the bidding, here are the odds of allotment for IPO of Indo-MIM:

• Big HNI category: 1 investor out of 11 investors will get 420 shares (Probability: 9.09 per cent)
• Small HNI category: 1 investor out of 34 investors will get 420 shares (Probability: 2.95 per cent)
• Retail category: 2 investors out of 9 investors will get 30 shares. (Probability: 22.22 per cent)

The grey market premium (GMP) of Indo-MIM has seen some correction even a sharp bidding amid volatile market sentiments. Last heard, it was commanding a discount of Rs 195-200 per share, suggesting a listing pop of nearly 40 per cent for the investors. The company was commanding a GMP more than Rs 200 apeice during the bidding phase.

Incorporated in 1996, Indo-MIM is a global leader in manufacturing precision engineering components using metal injection molding (MIM) technology. It offers end-to-end solutions including mold design, tooling, finishing, and assembly. It use advanced technologies such as investment casting, precision machining, ceramic injection molding, and 3D metal printing to serve industries.

HDFC Bank Ltd, ICICI Securities, Axis Bank Ltd and Kotak Mahindra Company and SBI Capital Markets are the book running lead managers for Indo-MIM and MUFG Intime India is the registrar of the issue. Refund of the bidding amount shall be done on Wednesday, July 29. Shares of the company shall be listed on both BSE Ltd and NSE on Thursday, July 30.

Investors, who had bid for the issue of Indo-MIM, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Indo-MIM Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘INDOMIM’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

• Go to the web portal of MUFG Intime India Limited
• Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.