Indo-MIM Limited has fixed the price band for its initial public offering at ₹461 to ₹485 per equity share, setting the stage for its debut on public markets.
The subscription window is scheduled to open on July 23 and close on July 27, with the company targeting a total raise of ₹500 crore.
Proceeds from the issue will be allocated toward debt repayment and general corporate purposes, a common structure for SME listings seeking to optimize their balance sheets before trading begins.
The pricing places the issue in the mid-range for recent SME IPOs, reflecting the company’s valuation expectations ahead of public subscription.
With the price band now set, investors will have five trading days to submit bids, allowing the market to gauge demand levels before the final allotment.
The company’s decision to use the funds for debt reduction suggests a focus on financial deleveraging, which could improve net interest margins and reduce leverage ratios post-listing.