Indo-MIM IPO opens today at ₹461-485 price band
Indo-MIM's ₹3,812-crore initial public offering (IPO) opened today at a price band of ₹461-485 per share and will close on July 27. The offering includes a fresh issue of equity shares worth ₹500 crore and an offer-for-sale of 6.82 crore shares, with 50% reserved for Qualified Institutional Buyers. The company plans to use ₹400 crore from the fresh issue to repay borrowings, while it has already raised ₹1,141 crore through an anchor book involving 92 investors.