Indo-MIM Limited’s initial public offering reached full subscription on its first day of bidding, driven by overwhelming interest from non-institutional investors.
The retail segment, known as the non-institutional investor (NII) category, oversubscribed its quota by 2.95 times, setting a strong tone for the remainder of the book-building process.
The issue, which opened on July 23 and remains open until July 27, consists of a fresh issue of ₹500 crore alongside an offer-for-sale of 6.829 crore shares.
The offer-for-sale component is valued at approximately ₹3,812 crore based on the upper price band of ₹485 per share.
The rapid subscription highlights sustained investor confidence in Indian mid-cap listings, even as broader market volatility persists.
This momentum follows a similar pattern seen in recent Indian IPOs, such as Knack Packaging Limited, which concluded its offering with a final subscription multiple of 25.75 times.