Story · Mumbai
Indo MIM's ₹3,812 crore IPO to open on July 23; price band at ₹461-485 per share
Indo MIM Ltd, a Bengaluru-headquartered precision engineering manufacturer, has fixed a price band of ₹461-485 per share for its ₹3,812 crore Initial Public Offering (IPO), which will open on July 23 and close on July 27. The IPO comprises a fresh issue of equity shares worth ₹500 crore and an offer for sale (OFS) of up to 6.82 crore equity shares by existing shareholders, including Green Meadows Investments Ltd, Anuradha Koduri, and the Indian Institute of Technology Madras. At the upper end of the price band, the company is valued at nearly ₹24,000 crore. Proceeds from the fresh issue will be used to repay loans. At the lower end of the price band, the IPO size is estimated at about ₹3,648 crore.
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