Indo-MIM vs Lohia Corp vs Xtranet Tech: Check biddings status & latest GMPs for 3 IPOs

Three mainboard IPOs- Indo-MIM, Lohia Corp and Xtranet Technologies- which kicked-off for bidding on Thursday, July 23, are cumulatively raising nearly of Rs 5,080 crore, continued to attract a decent response from the investors even on the third day and final the bidding. All three issues will close for subscription today, that is on Monday, July 27.
 

Indo-MIM: Day 3 bidding status and GMP
According to data from BSE, the IPO of Indo-MIM was booked 49.36  times as of 3.05 pm on Monday, July 27. Investors had made bids for 2,71,92,78,840 equity shares against the overall net offering of 5,50,93,201 equity shares for the investors. The retail portion was booked 5.86 times, while quota for non-institutional bidders was subscribed 47.13 times. Allocation for qualified institutional bidders was booked 127.68 times.

Indo-MIM is offering its shares in the range of Rs 461-485 apiece with a lot size of 30 equity shares. The precision engineering player is looking to raise a total of Rs 3,811 crore via its IPO. Last heard, the company was commanding a grey market premium of Rs 200-205 per share, suggesting a listing pop of 40-42 per cent for the investors.

Indo-MIM has global leadership in manufacturing precision engineering components using MIM technology. It has long-standing relationships with Indian and global OEM customers along with a diversified product portfolio catering to applications across multiple industries. It has backward integrated, dual-shore manufacturing capabilities with focus on efficiency, said Hem Securities with a 'subscribe' rating.
 

Lohia Corp: Day 3 bidding status and GMP
The IPO of Lohia Corp was overall subscribed 3.79 times as of the given time. The issue attracted bids for 5,43,86,710 equity shares against the net offered issue size of 1,43,52,274 equity shares. The portion for retail bidders and non-institutional investors were booked 2.03 times and 3.89 times, respectively. However, qualified institutional bidders took a back seat as the portion fetched a subscription of 4.39 times.

Kanpur-based textile equipment maker, Lohia Corp, is selling its shares for Rs 404-425 apiece in the multiples of 35 shares to raise a total of Rs 1,101 crore. It is entirely an offer-for-sale (OFS) of up to 2.59 crore equity shares worth Rs 1,101 crore. Its GMP has moved up Rs 8-10, hinting at nearly two per cent gains for the investors.

Lohia Corp is valued at a P/E of 23 times FY26 EPS, lower than most listed machinery peers. Considering its leadership in the woven raffia machinery market, strong export franchise, healthy order book and favourable industry outlook, said Geojit Investments and assigned a 'subscribe' rating to the IPO for investors with a medium- to long-term investment horizon.
 

Xtranet Technologies: Day 3 bidding status and GMP
Smallest among the three, Xtranet Technologies IPO was overall booked as much as 8.62 times as of the same time. Investors made bids for 7,92,10,890 equity shares against the offered size of 91,93,800 equity shares as of the given time. Allocations for retail bidders were subscribed 7.45 times, while non-institutional investors' quota was booked 20.89 times. The allocation for institutional bidders was booked only 1.46 times.

IT solutions player Xtranet Technologies is selling its shares in the range of Rs 120-127 apiece in the multiples of 110 equity shares. The issue is entirely a fresh share sale of 1,31,34,000 equity shares worth Rs 167 crore. It has seen a correction in its GMP, which has dropped to Rs 7 pers shares, suggesting a 5-6 per cent listing pop for the investors.

Vidya Wires is valued at a P/E of 27.1 times and an EV/sales multiple of 0.7 times, which is at a discount to its peers. It has delivered strong revenue and profit growth, supported by healthy margins. Capacity utilisation has also improved significantly from 70 per cent in FY23 to 94 per cent in FY25, reflecting growing customer demand, said Choice Broking

"We assign a 'subscribe with caution'  rating to this IPO, supported by its reasonable valuation and established execution track record with Government and PSU clients. However, the company's weak cash conversion cycle warrants caution from a long-term investment perspective," said Marwadi Financial Services.