Indo-MIM Limited’s initial public offering has accelerated sharply on its second day of bidding, with the overall subscription multiple reaching 3.07 times.
The surge marks a significant step up from the first day, when the issue reached full subscription driven largely by retail and non-institutional investor interest.
The qualified institutional buyer (QIB) segment, which had opened with a modest 0.17 times subscription on Day 1, crossed the fully subscribed mark to reach 1.11 times.
Meanwhile, the non-institutional investor (NII) category continued to attract heavy demand, surpassing an 8 times subscription multiple.
The broadening participation across investor categories suggests the issue is gaining traction beyond its initial retail base.
The strong uptake for Indo-MIM comes amid a period of heightened activity in India’s primary markets.