Synopsis: Indo-MIM Limited’s ₹3,811.21 crore IPO opens on July 23, 2026. The company plans to use the proceeds to repay borrowings and support general corporate purposes, backed by its global manufacturing network, advanced MIM technology, diversified customer base, and consistent financial growth.
Indo-MIM Limited is launching its Initial Public Offering (IPO) to raise funds for repayment of outstanding borrowings and general corporate purposes. The IPO size aggregates up to Rs. 3,811.21 crore, comprising a fresh issue of 1.03 crore equity shares totalling Rs. 499.10 crore and an offer for sale of 6.83 crore shares worth Rs. 3,311.21 crore.
Indo-MIM Limited’s IPO price band is set at Rs. 461-485 per share. The IPO opens for subscription on July 23, 2026, and closes on July 27, 2026. The shares will be listed on the NSE and BSE on Thursday, July 30, 2026. Here’s everything you need to know.
GMP of Indo-MIM Limited IPO
As of July 22nd, 2026, the shares of Indo-MIM Limited in the grey market were trading at a 37.11 percent premium. The shares in the Grey Market traded at Rs. 665. This gives it a premium of Rs. 180 per share over the cap price of Rs. 485.
Overview of Indo-MIM Limited
Indo-MIM Limited was established in 1996 and is a leading manufacturer of precision engineering components using Metal Injection Molding (MIM) technology. The company provides end-to-end manufacturing solutions, including product design, mold development, tooling, machining, finishing, and assembly. Besides MIM, it also uses advanced technologies such as investment casting, precision machining, ceramic injection molding, and 3D metal printing to manufacture complex metal components.
The company’s products are supplied to a wide range of industries, including automotive, defence, medical, consumer goods, and aerospace. In FY2025, Indo-MIM manufactured more than 6,400 products, including automotive safety components, firearm parts, surgical device components, consumer accessories, and aerospace parts, serving customers with high-quality precision products.
Indo-MIM has built a strong global customer base through its international sales network. As of March 31, 2026, the company operated sales offices in China, Germany, and the United States, along with sales representatives across Europe and Asia. During FY2026, it served more than 1,100 customers worldwide.
The company operates 15 manufacturing facilities across India, the United States, the United Kingdom, and Mexico. It also has the world’s largest installed Metal Injection Molding (MIM) manufacturing capacity, supporting its position as a global leader in precision engineering solutions.
Promoters of Indo-MIM Limited
The promoters of Indo-MIM Limited include Green Meadows Investments Ltd, Krishna Chivukula, Krishna Chivukula Jr., Raj Chivukula, and Jagadamba Chandrasekhar. The promoters have played a key role in establishing the company as a global leader in precision metal component manufacturing and continue to drive its long-term strategic vision.
Indo-MIM Limited Selling Shareholders
The Offer for Sale comprises shares being sold by existing shareholders. The major selling shareholder is Green Meadows Investments Ltd, which is offering up to 60.52 million equity shares. Other selling shareholders include Anuradha Koduri, offering up to 5.46 million equity shares, and the Indian Institute of Technology Madras, offering up to 2.31 million equity shares.
Lead Managers of Indo-MIM IPO
The Book Running Lead Managers to the issue are HDFC Bank Limited, Axis Capital Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited. MUFG Intime India Private Limited (formerly Link Intime India Private Limited) is acting as the registrar to the issue.
Objectives of the IPO Offer
Indo-MIM Limited proposes to utilize the net proceeds from the IPO primarily towards strengthening its financial position. The company will allocate Rs. 400 crore for the repayment or prepayment, in full or part, of certain outstanding borrowings. This is expected to reduce debt, lower interest costs, and improve the company’s overall financial health. The remaining proceeds, if any, will be used for general corporate purposes, including supporting operational and business growth requirements.
Financial Analysis of Indo-MIM
Coming into financial highlights, Indo-MIM Limited’s consolidated total revenue has increased from Rs. 3,329.58 crore in FY25 to Rs. 4,192.99 crore in FY26, which represents a growth of 25.93 percent. The company’s net profit has also grown by 25.92 percent from Rs. 423.73 crore in FY25 to Rs. 533.54 crore in FY26.
Indo-MIM Limited has a PAT Margin of 12.72 percent and an EBITDA Margin of 25.54 percent. In terms of return ratios, the company’s RoNW and ROCE stand at 21.26 percent and 26.60 percent, respectively. Indo-MIM Limited has an earnings per share (EPS) of Rs. 11.06, and its debt-to-equity ratio is 0.39x
Indo-MIM Limited Vs Peers
Indo-MIM Limited reported revenue from operations of Rs. 4,192.99 crore in FY2026. The company reported a basic EPS of Rs. 11.06, a diluted EPS of Rs. 10.87, and a Return on Net Worth (RoNW) of 21.26 percent.
In comparison, Jiangsu Gian Technology Co., Ltd. reported revenue from operations of Rs. 4,060.51 crore, with a basic EPS of Rs. 3.91, a diluted EPS of Rs. 3.77, and a RoNW of 3.10 percent. Indo-MIM Limited’s net asset value (NAV) per share stands at Rs. 58.24. In comparison, Jiangsu Gian Technology Co., Ltd. reported a NAV per share of Rs. 165.13.
Strengths of Indo-MIM Limited
- One of India’s leading manufacturers of Metal Injection Molding components.
- Diversified customer base across automotive, aerospace, healthcare, industrial engineering, and consumer products.
- Strong global manufacturing footprint with overseas subsidiaries.
- Advanced manufacturing technology supported by continuous R&D investments.
- Experienced promoter group with decades of industry expertise.
- Long-standing relationships with international customers.
- Vertically integrated manufacturing operations enhance efficiency and quality control.
Weaknesses of Indo-MIM Limited
- Business requires continuous capital expenditure to maintain technological leadership.
- Revenue may be impacted by slowdowns in global manufacturing sectors.
- Export-oriented operations expose the company to foreign exchange fluctuations.
- Demand from industrial and automotive customers can be cyclical.
- Raw material price volatility may affect operating margins.
Conclusion
Indo-MIM Limited offers investors an opportunity to participate in one of India’s leading precision engineering companies with strong global manufacturing capabilities and diversified end markets. The company’s expertise in Metal Injection Molding, advanced manufacturing infrastructure, experienced management team, and international customer base provide a solid foundation for long-term growth.
The fresh issue proceeds are expected to strengthen the company’s balance sheet while supporting future expansion initiatives. However, investors should carefully evaluate the company’s financial performance, valuation, industry outlook, and associated business risks before subscribing to the IPO.
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