About Indo-MIM IPO
Indo-MIM Limited is set to launch its IPO for public subscription on July 23, 2026, and will remain open until July 27, 2026.
The Indo-MIM IPO price band is set at ₹461-₹485 per equity share. The allotment is expected to be finalised on July 28, 2026.
The Indo-MIM IPO is a ₹3,811.21 crore book-building issue, comprising a fresh issue of 1,03,09,278 equity shares and an offer for sale (OFS) of up to 6,82,91,022 equity shares, with a face value of ₹1 each.
Business Overview of Indo-MIM
Indo-MIM Limited, incorporated in 1996 and headquartered in Bengaluru, Karnataka, is a manufacturer of precision engineering components using Metal Injection Moulding (MIM) technology.
In simple terms, MIM combines the design flexibility of plastic injection moulding along with the strength and durability of metal. This makes it well suited to produce small, complex, and highly precise components at scale.
Indo-MIM holds the world's largest installed MIM manufacturing capacity, with an estimated global market share of approximately 6.8%.
Key Highlights of Indo-MIM Limited Include:
Particulars | Details |
Global MIM Market Share | ~6.8% |
Installed MIM Capacity | World's largest |
Manufacturing Facilities | 15 |
Global Presence | India, US, UK & Mexico |
Products Manufactured in FY25 | 6,400+ distinct product types |
Overall Product Portfolio | 9,000+ product types |
Indo-MIM company also offers end-to-end solutions spanning;
- Mould design
- Tooling
- MIM processing
- Finishing and Assembly.
Alongside, the company also serves customers across the automotive, defence, medical, consumer, and aerospace sectors, with a product portfolio spanning more than 9,000 product types.
Indo-MIM IPO Date, Price, and Other Details
The following are the details of the upcoming Indo-MIM Limited IPO.
Particulars | Details |
IPO Size | Book Build issue of ₹3,811.21 crore |
Offer Type | Fresh issue of ₹500 crore + OFS of ₹3,312.11 crore |
Total Number of Equity Shares | 7,86,00,300 shares |
Price Band | ₹461 to ₹485 per share |
Issue Dates | Opens: Jul 23, 2026 · Closes: Jul 27, 2026 |
Anchor Investor Date | Jul 22, 2026 |
Minimum Bid Lot | 1 lot of 30 shares |
Minimum Investment (Retail) | ₹14,550 (at upper band) |
Allotment Date | Jul 28, 2026 |
Credit to Demat | Jul 29, 2026 |
Listing Date | Jul 30, 2026 |
Face Value | ₹1 per share |
Lead Managers (BRLMs) | HDFC Bank Ltd., Axis Capital Ltd., ICICI Securities Ltd., Kotak Mahindra Capital Co. Ltd. |
Registrar | MUFG Intime India Pvt. Ltd. |
Listing Exchanges | National Stock Exchange of India (NSE) & Bombay Stock Exchange (BSE) |
Indo-MIM IPO Reservation: Who Can Apply?
The Indo-MIM IPO has the following category reservations from Retail to HNIs:
Investor Category | Lots | Shares | Amount (at ₹485) |
Retail (Min) | 1 | 30 | ₹14,550 |
Retail (Max) | 13 | 390 | ₹1,89,150 |
sNII (Min) | 14 | 420 | ₹2,03,700 |
sNII (Max) | 68 | 2,040 | ₹9,89,400 |
bNII (Min) | 69 | 2,070 | ₹10,03,950 |
QIB | As applicable | — | — |
Strengths and Risks of Indo-MIM IPO
With every business owning its strengths and risks, even the Indo-MIM IPO has its potential plus points and downsides to be aware of.
Here is a brief business analysis (as per RHP) below:
Strengths
- Indo-MIM has the world's largest installed capacity in Metal Injection Moulding, with a global market share of approximately 6.8%.
- End-to-end capabilities spanning mould design, tooling, MIM processing, finishing, and assembly under one roof.
- Diversified product portfolio of 9,000+ product types serving automotive, defence, medical, consumer, and aerospace sectors.
- Indo-MIM has global manufacturing footprint across 15 facilities in India, the US, the UK, and Mexico, reducing single-geography dependence.
- While revenue grew by ~48.6% and PAT by ~88.05%, total borrowings also eased to ₹1,090.49 crore (FY26), reflecting deleveraging alongside growth.
Risks
- Indo-MIM’s business relies significantly on purchase-order-based demand rather than long-term contracts, which may create revenue unpredictability.
- Since the OFS component (₹3,312.11 crore) is substantially larger than the fresh issue (₹500 crore), the company receives only a small fraction of total issue proceeds.
- The company has no directly comparable listed peers in India, which can make valuation benchmarking difficult for investors.
- Global operations across four countries expose the company to currency fluctuations, geopolitical risk, and varying regulatory regimes.
- Highly competitive precision engineering and components manufacturing industry with established global players.
Future Plans/Strategies
- Indo-MIM has future plans to strengthen the global MIM manufacturing network across India, the US, UK, and Mexico.
- Reduce debt levels using part of the fresh issue proceeds to improve the balance sheet.
- Expand the product portfolio further across automotive, defence, medical, and aerospace applications.
- Deepen customer relationships across existing and new geographies.
- Listing on exchanges to enhance visibility and support long-term growth plans.
Indo-MIM IPO Objectives – How Will the Funds Be Used?
The Indo-MIM IPO comprises both a fresh issue (₹500 crore) and an OFS (₹3,312.11 crore). The company will receive proceeds only from the fresh issue. The OFS proceeds will go to the selling shareholders.
Objective | Amount (₹ crore) |
Repayment/prepayment of outstanding borrowings from banks | 400.00 |
General corporate purposes | Shall not exceed 25% of gross proceeds |
How To Apply for the Indo-MIM IPO?
You can apply for the Indo-MIM IPO on any financial platform by following these simple steps:
Step 1: Open a Demat and trading account with a broker
Step 2: Log in to the app and go to the IPO section
Step 3: Select Indo-MIM IPO
Step 4: Enter the lot size (minimum 30 shares) and bid price (₹461–₹485)
Step 5: Approve the UPI mandate to block funds
Step 6: Submit your application
Promoter Shareholding of Indo-MIM IPO
The promoters include Green Meadows Investments Ltd., Krishna Chivukula Jr., Raj Chivukula, and Jagadamba Chandrasekhar.
Promoter | Pre-Issue Holding (%) |
Green Meadows Investments Ltd | 90.44% |
Krishna Chivukula | Nil |
Krishna Chivukula Jr | 0.21% |
Raj Chivukula | Nil |
Jagadamba Chandrasekhar | 1.16% |
Anuradha Koduri (Promoter Group) | 1.13% |
Total | 92.94% |
Financial Performance (₹ in crores) of Indo-MIM IPO
Here's the table outlining the financial performance of Indo-MIM Limited from FY 2023 to FY 2025 and up to 31st March, 2026.
(in crores)
Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
Assets | 4,897.33 | 4,140.84 | 3,757.51 |
Total Income | 4,320.70 | 3,373.97 | 2,900.38 |
Profit After Tax | 533.54 | 423.73 | 283.73 |
EBITDA | 1,070.92 | 932.60 | 743.46 |
NET Worth | 2,819.55 | 2,199.43 | 2,050.51 |
Reserves and Surplus | 2,573.46 | 2,030.81 | 1,889.04 |
Total Borrowing | 1,090.49 | 1,247.20 | 1,085.01 |
Key Performance Metrics of Indo-MIM
Based on the financials available in the RHP, the following key performance metrics of Indo-MIM IPO can be considered.
KPI | As of Dec 31, 2025 | Values (as of FY 2024-25) |
Return on Equity (ROE) | 21.26 | 19.94 |
Net Asset Value (NAV) | 58.24 | 45.63 |
Price/Earnings (P/E) Ratio | ||
Earnings Per Share (EPS - Diluted) | 10.87 | 8.60 |
EBITDA Margin (%) | 25.54% | 28.01% |
PAT Margin (%) | 12.72% | 12.73% |
Debt to Equity Ratio | 0.25 | 0.49 |
(Note: P/E, market capitalisation, and post-IPO NAV are subject to final pricing and allotment. Refer to the RHP for complete details.)
Registrar of Indo-MIM IPO
The Registrar of Indo-MIM IPO is MUFG Intime India Pvt. Ltd.
Phone: 022-49186000
Website: https://in.mpms.mufg.com
Lead Manager of Indo-MIM IPO
In total, 4 lead managers are handling the IPO process of Indo-MIM Limited namely;
- HDFC Bank Ltd.
- Axis Capital Ltd.
- ICICI Securities Ltd.
- Kotak Mahindra Capital Co. Ltd.
