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Indo-MIM Ltd will launch its initial public offering (IPO) for public subscription on Thursday, 23 July. Headquartered in Bengaluru, the company is a leading manufacturer of precision engineering components using metal injection moulding (MIM) technology. With 15 manufacturing facilities spread across India, the US, the UK and Mexico, Indo-MIM says it is the world's largest producer of MIM components, accounting for a 6.8 per cent share of the global market. The company's product portfolio includes more than 9,000 precision-engineered components used across industries such as automotive, aerospace, defence, healthcare and consumer products.

The company has also reported strong financial performance in recent years. In FY26, revenue from operations increased 26 per cent year-on-year to Rs 4,193 crore, while net profit climbed 26 per cent to Rs 533.5 crore, supported by sustained demand across its major business segments.

Ahead of the issue, the company reduced the size of its IPO. The fresh issue has been lowered to Rs 500 crore from the originally proposed Rs 1,000 crore, while the (OFS) has also been scaled back from the earlier planned 12.96 crore equity shares.

Grey Market Premium signals positive listing expectations

The grey market premium (GMP) for the Indo-MIM IPO stood at Rs 194 ahead of the issue opening. Based on the upper end of the price band at Rs 485, the estimated listing price is around Rs 679 per share, indicating a premium of nearly 40 per cent.

Market observers note that the GMP has strengthened over the past five trading sessions. During this period, the premium has moved within the range of Rs 168 to Rs 213, reflecting optimism surrounding the company's stock market debut. However, investors should remember that GMP is an unofficial market indicator and does not guarantee listing performance.

IPO Schedule, Price Band And Investment Details

The Indo-MIM IPO will remain open for subscription from Thursday, 23 July, until Monday, 27 July.

The company has fixed the price band at Rs 461 to Rs 485 per equity share with a face value of Re 1. Investors can apply in a minimum lot of 30 equity shares and thereafter in multiples of 30 shares.

The anchor investor portion is scheduled to be allocated on Wednesday, 22 July, a day before the public issue opens.

The public offering comprises a fresh issue of equity shares worth Rs 500 crore along with an offer for sale of up to Rs 3,312 crore by existing shareholders and promoters. As part of the OFS, Green Meadows Investments will offload 6.05 crore equity shares, while Anuradha Koduri and the Indian Institute of Technology Madras (IIT Madras) will sell 54.59 lakh shares and 23.07 lakh shares, respectively.

How The Company Plans To Use The IPO Proceeds

Indo-MIM intends to utilise Rs 400 crore from the net proceeds of the fresh issue to repay or prepay certain outstanding borrowings. The remaining amount will be allocated towards general corporate purposes. As of May 2026, the company's consolidated borrowings stood at Rs 1,212.3 crore.

The basis of allotment is expected to be finalised on 28 July. Successful applicants are likely to receive shares in their demat accounts on 29 July, while refunds for unsuccessful bidders are also expected to be processed on the same day. Subject to the completion of the allotment process, the company's shares are scheduled to list on both the BSE and NSE on 30 July.

The IPO is being managed by HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital Company and SBI Capital Markets, which are acting as the book-running lead managers. The issue allocation reserves up to 50 per cent for qualified institutional buyers (QIBs), at least 15 per cent for non-institutional investors (NIIs) and a minimum of 35 per cent for retail investors.

Brokerage Comment

According to Master Capital Services, "The global metal injection molding (MIM) market is projected to grow from USD 4.0 billion in 2025 to USD 6.2 billion by 2030 at a 9.2 per cent CAGR, driven by rising demand from the automotive, aerospace, defence, medical and consumer electronics sectors. Among these, the medical and aerospace segments are expected to witness the fastest growth. MIM demand is projected to grow at a 9.0 per cent CAGR in automotive, 9.2 per cent CAGR in aerospace, 11.6 per cent CAGR in medical, 8.8 per cent CAGR in defence and 8.2 per cent CAGR in consumer electronics during 2025-2030, supported by increasing adoption of high-precision and complex engineering components. The favourable industry outlook is expected to support demand for precision engineering components, driven by rising adoption of lightweight and complex parts, increasing automation, expanding end-user industries and the growing preference for cost-effective high-volume manufacturing solutions. Indo-MIM Limited is well positioned to benefit from these industry trends through its diversified end-market presence, broad manufacturing capabilities and strong presence across key international markets. Investors may consider the IPO as a potential long-term investment opportunity."