Among the three public offerings opening on July 23, 2026, Indo-MIM IPO commands the strongest Grey Market Premium (GMP), trading at a premium of around ₹192 per share (~39.6% expected listing gain over its upper price band of ₹485). In comparison, Lohia Corp IPO signals an estimated listing gain of ~20.7% (GMP of ₹88), while Xtranet Technologies IPO trails with an expected listing premium of ~14% to 19.7% (GMP of ₹18 to ₹25).Head to Head Comparison: GMP, Issue Size & ValuationThe primary market is gearing up for a busy week as three distinct companies launch their initial public offerings simultaneously. Below is how the three issues compare on key parameters:ParameterIndo-MIM IPOLohia Corp IPOXtranet Technologies IPOCurrent GMP~₹192~₹88~₹18 – ₹25Estimated Listing Gain~39.6%~20.7%~14.2% – 19.7%Price Band₹461 – ₹485₹404 – ₹425₹120 – ₹127Total Issue Size₹3,812 Crore₹1,101 Crore₹166.8 CroreIssue TypeFresh Issue + OFS100% Offer for Sale (OFS)100% Fresh IssueBidding DatesJuly 23 – July 27, 2026July 23 – July 27, 2026July 23 – July 27, 2026Expected Listing DateJuly 30, 2026July 30, 2026July 30, 2026Deep Dive: What’s Driving Demand Across the Three Offers?1. Indo-MIM IPO: Precision Engineering Leader (Strongest Demand)Core Business: Global leader in Metal Injection Molding (MIM) technology, serving healthcare, defense, aerospace, and automotive industries.Financial Strengths: Reported ₹4,193 crore in operating revenue for FY26 with a robust PAT of ₹533.5 crore and an EBITDA margin of 25.5%.Why Investor Interest is High: Strong global market share, high return ratios (ROE ~21.2%), and institutional interest have fueled strong grey market premiums near 40%.2. Lohia Corp IPO: Technical Textile Machinery GiantCore Business: Global manufacturer of machinery for woven polypropylene (PP) and HDPE fabrics used in cement, fertilizer, and agricultural packaging.Financial Strengths: Total revenue grew to ₹1,738 crore in FY26, with PAT surging to ₹193.5 crore and an impressive ROCE of 40.9%.Key Considerations: While financial health and margins are strong, the offer is 100% OFS, meaning no new capital enters the company's balance sheet.3. Xtranet Technologies IPO: High-Growth IT & Cloud ProviderCore Business: Integrated IT solutions provider focused on enterprise applications, digital transformation, and cloud platforms.Financial Strengths: Revenue rose to ₹366 crore in FY26 with a PAT of ₹40.7 crore, supported by 100% fresh issue proceeds aimed at debt reduction and expansion.Key Considerations: High customer concentration (top 10 clients generate over 86% of revenue) keeps its GMP moderate compared to its larger peers.Investor Note: Grey Market Premium (GMP) is an unregulated, unofficial indicator reflecting market sentiment prior to listing. It fluctuates based on overall market conditions and should not serve as the sole criteria for investment decisions. Always evaluate underlying business fundamentals and risk factors before bidding.Also Read :- Aye Finance Shares Tumble 8% Despite 144% YoY Surge in Q1 FY27 Profit
