Indo MIM IPO Listing: Investors who got shares of Indo-MIM made a huge profit of ₹ 6,450 on the very first day. Know now whether to hold shares further or book profit.
Indo-MIM Share Price Today: Indo-MIM IPO made such a spectacular entry in the stock market on Thursday, July 30 that investors started playing lottery early in the morning. The company’s shares are listed at ₹700 on NSE and ₹703 on BSE. Those who got this share at the issue price of ₹ 485, made a huge profit of 45% on the very first day. In such a situation, the biggest question before the investors who were allotted IPO is whether they should book this profit now or would it be better to hold the shares for a long time?
Indo MIM IPO Listing Details: Where and how much were the shares listed?
IPO Price (Issue Price)- ₹485 per share
Listing price on BSE- ₹703 (up 44.95%)
Listing price on NSE- ₹700 (up 44.33%)
Share in one lot- 30 shares
Your total investment- ₹14,550
Indo MIM Share: How much was earned on one lot?
Even if you got just one lot of this IPO i.e. 30 shares, you would have invested ₹ 14,550. The value of these shares increased to ₹21,000 soon after listing. That means you have made a net profit of ₹ 6,450 in one stroke!
Indo MIM also left behind GMP’s estimates
A strong impact of this IPO was seen in the market even before the listing. Gray Market Premium (GMP) was suggesting that the stock could be listed at around ₹669 with a profit of ₹184. But the actual listing beat even these claims and the stock opened above ₹700. This IPO was subscribed more than 72 times. Big investors (QIBs) had filled it 204 times.
Indo MIM Share: Book profit or hold?
short-term investors
Market experts say that if you had invested money only for the listing gain, then a return of 45% is excellent. You can secure your money by booking your profits or withdraw your original investment and leave the remaining shares.
Long-term investors
According to experts, the background of the company is very strong. This company, operating since 1996, manufactures engineering parts for big industries like automotive, aerospace and defense. The company is profitable (profit has grown 26% last year) and is about to repay its debt with the ₹400 crore raised from the IPO. If you can wait longer, holding it may also be a good choice.
Disclaimer: The information given in this article is for information and awareness purposes only. Do not consider this as investment advice to buy, sell or hold any share. Investing in the stock market is subject to market risks. Before taking any financial decision or investing, please consult your SEBI certified financial advisor.