Indo-MIM Ltd shares opened sharply higher on Indian exchanges Thursday, debuting at a 45% premium to the initial public offering price.
The stock opened at ₹703 on the Bombay Stock Exchange and ₹700 on the National Stock Exchange, compared with the issue price of ₹485, before climbing to an intraday high of ₹725.80.
The listing marks the culmination of one of India’s largest recent equity raises, with the precision engineering components manufacturer attracting intense investor interest.
The issue was subscribed 72 times, reflecting robust appetite for the auto parts supplier.
Prior to the listing, the grey market premium had climbed to ₹190 per share on the final day of bidding, signaling strong confidence in the company’s valuation.
Analysts suggest that the significant listing gains may trigger partial profit booking in the near term.