IPO GMPs: Lohia Corp IPO vs Indo-MIM IPO vs Xtranet Technologies IPO — what grey market signals about upcoming IPOs

Despite persistent global uncertainty and heightened geopolitical tensions, activity in the primary market is picking up once again. Three IPOs — Lohia Corp IPO, Indo-MIM IPO and Xtranet Technologies IPO — are set to open for public subscription on 23 July, keeping investors busy amid a revival in new listings.

Industrial machinery manufacturer Lohia Corp Ltd has fixed the price band at ₹404-425 per equity share for its ₹1,102-crore IPO, which will open for subscription on 23 July and close on 27 July. The anchor investor bidding is scheduled for 22 July.

The IPO is entirely an offer for sale (OFS) of up to 2.59 crore equity shares by existing shareholders, meaning the company will not receive any proceeds from the issue. At the upper end of the price band, the company is valued at around ₹4,500 crore.

Precision engineering components manufacturer Indo-MIM Ltd has fixed a price band of ₹461-485 per share for its ₹3,812-crore IPO. The Bengaluru-based company's IPO comprises a fresh issue of ₹500 crore and an offer for sale (OFS) of around 6.83 crore equity shares by existing shareholders, including Green Meadows Investments Ltd, Anuradha Koduri and the Indian Institute of Technology Madras.

At the upper price band, Indo-MIM is expected to command a market capitalisation of nearly ₹24,000 crore, while the total issue size is estimated at ₹3,812 crore.

Xtranet Technologies, an IT services and digital solutions provider, is bringing a ₹170-crore IPO, comprising only a fresh issue with no OFS component.

The company plans to utilise the proceeds for debt repayment, purchase of systems and hardware, working capital requirements and general corporate purposes.

Founded in 2002, Xtranet Technologies provides end-to-end technology solutions spanning enterprise applications, digital transformation services, managed services and proprietary software platforms, catering to a wide range of enterprise customers.

Let's take a look at the issue details and grey market premium (GMP) trends for the upcoming IPOs:

Indo-MIM IPO GMP today is +195. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Indo-MIM share was ₹680 apiece, which is 40.21% higher than the IPO price of ₹485.

According to recent grey market trends observed over the past four sessions, the IPO's Grey Market Premium (GMP) is rising today, suggesting a positive outlook for the listing. During this period, the GMP has ranged from ₹168 to ₹213, according to experts.

Xtranet Technologies IPO GMP today is +26. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Xtranet Technologies share was ₹153 apiece, which is 20.47% higher than the IPO price of ₹127.

According to recent grey market activity over the past five sessions, the IPO's GMP is showing an upward trend today, suggesting anticipation for a robust listing. Throughout this period, the GMP fluctuated between ₹25 and ₹26, according to expert opinions.

Lohia Corp IPO GMP today is +56. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Lohia Corp share was ₹481 apiece, which is 13.18% higher than the IPO price of ₹425.

According to recent grey market activity over the past four sessions, the GMP for the IPO is showing an upward trend today, which suggests a strong listing is anticipated. During this timeframe, the GMP fluctuated between ₹0.00 and ₹56, as noted by experts.