Indo-MIM IPO

The Indo-MIM mainboard IPO runs from 23 Jul 2026 to 27 Jul 2026, offered at a price band of ₹461–485 per share, and is set to list on NSE and BSE. The company is looking to raise ₹3,811.21 crore through the offer. Retail investors bid in lots of 30 shares, a minimum application of ₹14,550.

Issue structure

The offer combines a fresh issue of ₹500.78 crore with an offer for sale (OFS) of ₹3,311.33 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by company (₹400 crore), alongside issue expenses (₹111 crore). In all, 3 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Indo-MIM reported revenue of ₹4,320.7 crore and a net profit of ₹533.54 crore. Revenue grew from ₹2,900.38 crore in FY2024 to ₹4,320.7 crore in FY2026 (+49.0%). Net worth stood at ₹2,819.55 crore at the end of FY2026. At the upper band, that puts the issue at roughly 44.0× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 44.95× post-issue earnings and 10.63× book value, against a return on net worth of 21.26% and a debt-to-equity ratio of 0.39. These ratios come from the offer document and are for comparison, not a recommendation.

Promoters

The promoters of the company are <p>Green Meadows Investments Ltd., Krishna Chivukula Krishna Chivukula Jr, Raj Chivukula, Jagadamba CHandrasekhar</p>. Promoter holding stands at 92.94% before the issue and comes down to 77.65% after listing.

Grey market premium (GMP)

In the unofficial grey market, Indo-MIM shares are quoted at a premium of ₹190 implying an expected listing around ₹675, about +39.2% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Indo-MIM IPO was subscribed 72.37 times overall. The strongest demand came from qualified institutional buyers (QIB) at 204.47 times, with non-institutional investors (NII) at 50.65× and retail investors at 6.69×.

Listing performance

Indo-MIM listed on 30 Jul 2026 at ₹703, a premium of +45.0% over the issue price of ₹485.

What to weigh

When evaluating the Indo-MIM IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Indo-MIM

Incorporated in 1996, Indo-MIM is a global leader in manufacturing precision engineering components using metal injection molding (MIM) technology. The company offers end-to-end solutions including mold design, tooling, finishing, and assembly. Along with MIM, the company also use advanced technologies such as investment casting, precision machining, ceramic injection molding, and 3D metal printing to serve diverse industries. In FY 2025, it has manufactured over 6,400 products, catering to automotive, defence, medica, consumer, and aerospace industries. Product Portfolio : Automotive : safety, fuel systems, powertrain, and interiors Defence : firearm components like triggers, hammers, and sights Medical : parts for surgical devices in endoscopy, laparoscopy, dental robotics, and orthopedics Consumer : fashion accessories, crossbows, cellphone parts, tools, and hardware Aerospace : manifolds, housings, nozzles, locking rings, clevises, and brackets for OEMs The company has global sales capabilities with a dedicated sales team that provides customer support. As of March 31, 2025, it has three sales offices in China, Germany and the United States, with 12 sales representatives in Czech Republic, France, Italy, Japan, South Korea, Israel, Poland and Turkey. In Fiscal 2025, it has served more than 1000 customers Manufacturing: The company operates 15 manufacturing facilities across India, the US, the UK, and Mexico, and hold the world&rsquo;s largest installed MIM capacity (Source: F&amp;S Report). Its global presence includes sales offices in China, Germany, and the US, and sales representatives across Europe and Asia. Competitive Strengths Global leadership in manufacturing precision engineering components using MIM technology Long-standing relationships with Indian and global OEM customers Diversified product portfolio catering to applications across multiple industries Backward integrated, dual-shore manufacturing capabilities with focus on efficiency Export driven player with extensive global distribution capability Experienced promoters and management team Track record of robust financial performance