Overview
- Exchange data showed the public offer received bids for 398,551,0020 shares against 55,093,201 shares on offer, producing a 72.34x subscription rate on July 27.
- The Rs 3,811.21 crore issue combines a fresh issue of about Rs 500 crore and an offer‑for‑sale of roughly Rs 3,311.21 crore by existing shareholders.
- The company plans to use about Rs 400 crore from the fresh proceeds to repay or prepay borrowings, with the remaining fresh funds for general corporate purposes.
- Indo‑MIM raised about Rs 1,140.99 crore from anchor investors before the public bid, and book‑running lead managers include HDFC Bank, Axis, ICICI Securities, Kotak and SBI Capital Markets.
- Unofficial grey‑market reports put the premium near Rs 203 (about 42% over the Rs 485 upper band), but that price is not exchange‑verified and the official listing on July 30 will determine actual market pricing.