Indo MIM’s Rs. 3812 crore IPO to open on July 23; sets price band at Rs 461-485 per equity share

Left to Right: Sarun Agarwal, Co-Head, Equity Capital Markets, ICICI Securities Limited; Prasad Deshmukh – Head, Corporate Finance, HDFC Bank Limited; P Balasubramanian, VP – Finance & Chief Financial Officer, Indo MIM Limited; Krishna Chivukula Jr., Whole-time Director & Chief Executive Officer, Indo MIM Limited; Parin Savla, Vice President (Investment Banking), Axis Capital Limited; Harshil Shah, Associate Vice President, Kotak Mahindra Capital Company Limited; and Amrendra Singh, Executive Vice President & Group Head (Equity Capital Markets), SBI Capital Markets Limited at the conference to launch the IPO and announce the price band

Right to left: Krishna Chivukula Jr., Whole-time Director & Chief Executive Officer, Indo MIM Limited and P Balasubramanian, VP – Finance & Chief Financial Officer, Indo MIM Limited at the conference to launch the IPO and announce the price band in Mumbai – photo by Sumant Gajinkar

Indo MIM’s Rs. 3812 crore IPO to open on July 23; sets price band at Rs 461-485 per equity share

Mumbai, 20th July 2026 (GNI): Precision engineering components manufacturer Indo MIM Ltd has fixed a price band of Rs 461-485 per equity share for its Rs. 3812 crore Initial Public Offering (IPO). The issue will open for subscription on July 23 and close on July 27.

At the upper end of the price band, Indo MIM is valued at nearly Rs 24,000 crore.

The proposed IPO of the Bengaluru-headquartered company is a combination of a fresh issue of equity shares aggregating up to Rs. 500 crore and an offer for sale (OFS) of up to 6.82 crore equity shares by the selling shareholders.

As part of the OFS, Green Meadows Investments Ltd, Anuradha Koduri, and the Indian Institute of Technology Madras will offload shares.

Indo MIM proposes to utilize the Net Proceeds of the Fresh Issue towards pre-payment or re-payment, in full or in part, of certain outstanding borrowings worth Rs. 400 crore and the remaining amount towards general corporate purposes.

Incorporated in 1996, Indo MIM provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding technology. With over 25 years of experience in the MIM industry, it is the largest manufacturer globally of precision engineering, components using MIM technology, with a market share of 6.8% in terms of revenue from MIM in Calendar Year 2025 and have held this position for the last six years, as per a F&S Report.

In addition to MIM technology, the company leverages technologies such as investment casting, precision machining, ceramic injection molding and metal three-dimensional (3D) printing to cater to customers in the automotive, defence, medical, consumer and aerospace sectors.

Indo MIM has the world’s largest installed capacity for MIM products operating 15 manufacturing facilities globally, of which six are in India, six in the United States, two in the United Kingdom and one in Mexico.

The company’s product portfolio caters to automotive, defence, medical, consumer, and aerospace sectors, and it manufactured over 9,000 types of products in Fiscal 2026.

In FY26, Indo MIM reported revenue from operations of Rs. 4193 crore and a profit after tax (PAT) of Rs. 533 crore.

As per the RHP, Indo MIM has no listed peers in India and has only one global listed peer – Jiangsu Gian Technology Co. Ltd which is listed on the Shenzhen Stock Exchange in China.

HDFC Bank Limited, Axis Capital Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the issue.

The equity shares of the company are proposed to be listed on BSE and NSE.ends GNI