Indo-MIM, Lohia Corp, Xtranet Tech IPO listings today: Latest GMP, expectations & more

The companies, including Indo-MIM, Lohia Corp and Xtranet Technologies are set to make their stock market debut on Thursday, July 30 after cumulatively raising Rs 5,080 crore from the respective primary offerings. All the three IPOs were open for subscription between July 23-27, with all issues suggesting a mixed bag listing for investors, if one goes the signals from unofficial market.

Despite the recent recovery in the Indian equity markets, all the three listing bound issues have taken a hit lately, suggesting a varied listing for investors. However, all of these issues hint at positive stock market debut later debut, despite a correction in their grey market premium for peak.

Indo-MIM IPO GMP
Ahead of its listing, shares of Indo-MIM were commanding a grey market premium of Rs 175-180 apeice, suggesting a listing pop of 36-37 per cent for the investors. 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 company sold its shares for Rs 485 apiece with a lot size of 30 shares to raise Rs 3,811 crore.

Incorporated in 1996, Indo-MIM is a global leader in manufacturing precision engineering components using metal injection molding (MIM) technology. HDFC Bank Ltd, ICICI Securities, Axis Bank Ltd and Kotak Mahindra Company and SBI Capital Markets were the book running lead managers for Indo-MIM and MUFG Intime India was the registrar of the issue.

Xtranet Technologies IPO GMP
Just before its debut, shares of Xtranet Technologies were commanding a grey market premium of Rs 14-15 apeice, suggesting a listing pop of 10-11 per cent for the investors. The issue was overall subscribed a 12.24 times with over 3.30 lakh applications, fetching bids for Rs 1,430 crore. It sold its shares for Rs 127 apiece with a lot size of 110 shares to raise Rs 167 crore.

Incorporated in 2002, Bhopal-based Xtranet Technologies is an integrated IT solutions provider offering end-to-end services. Share India Capital Services was the sole book running lead manager of Xtranet Technologies IPO and Kfin Technologies served as the registrar of the issue.

Lohia Corp IPO GMP
Ahead of its listing, shares of Lohia Corp were commanding a GMP of Rs 15 apiece, suggesting a listing pop of 3-4 per cent for the investors. The Kanpur based player sold its shares for Rs 425 apiece, with a lot size of 35 equity shares, raising Rs 1,101 crore from its maiden stake sale, which was overall subscribed 7.25 times, with around 1.91 lakh applications and bids for Rs 4,500 crore.

Incorporated in 2023, Kanpur-based Lohia Corp is a global manufacturer of machinery and equipment for technical textiles. Equirus Capital and Motilal Oswal Financial Services were appointed as the book running lead managers of Lohia Corp IPO and MUFG Intime India was the registrar of the issue. 

What market expert suggest
Mahesh M Ojha VP of Research at Kantilal Chagganlal Securities said that  investors receiving Indo-MIM allotment may consider holding the stock for the long term to benefit from the company's scalable growth opportunities. He suggested that investors receiving allotment of Lohia Corp and Xtranet Technologies  may hold it for medium to long term.

Shivani Nyati, Head of Wealth at Swastika Investmart suggested tha Indo-MIM allottee may book partial profit on a strong  listing and Xtranet Tech allottees may exit the counter on a modest listing pop also. However, she also suggested holding Lohia Corp for 2–3 years to capture the export-led, high-ROE compounding story looks more attractive than treating it as a quick flip.