Indo-MIM Raises ₹1,141 Crore From Anchor Investors As ₹3,812 Crore IPO Opens For Subscription

New Delhi: Precision engineering components maker Indo-MIM Ltd has mobilised about Rs 1,141 crore from anchor investors as its Rs 3,812 crore Initial Public Offering (IPO) opened for public subscription on Thursday.

The public issue, priced in the range of Rs 461-485 per share, will close on July 27.

According to a circular uploaded on the BSE website on Wednesday, Indo-MIM allotted 2.35 crore equity shares to 92 anchor investors at Rs 485 apiece, aggregating Rs 1,140.99 crore.

The anchor book saw participation from several domestic and global investors, including ICICI Prudential Mutual Fund (MF), HDFC MF, SBI MF, Kotak MF, Aditya Birla Sun Life MF, WhiteOak Capital, 360 ONE, Government Pension Fund Global, Goldman Sachs Funds, BlackRock Global Funds, Mirae Asset, Motilal Oswal MF, and Bandhan MF.

Domestic mutual funds were allotted 1.32 crore shares, accounting for 55.98 per cent of the anchor portion, through 60 schemes. Life insurance companies received 22.69 lakh shares, or 9.64 per cent of the anchor allocation.

The Bengaluru-headquartered company's IPO comprises a fresh issue of equity shares worth up to Rs 500 crore and an Offer For Sale (OFS) of around 6.83 crore equity shares by existing shareholders.

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

The OFS includes sale of shares by Green Meadows Investments Ltd, Anuradha Koduri and the Indian Institute of Technology Madras.

The company plans to utilise Rs 400 crore from the fresh issue proceeds towards pre-payment or repayment of certain outstanding borrowings, while the remaining amount will be used for general corporate purposes.

Incorporated in 1996, Indo MIM manufactures precision engineering components using Metal Injection Molding (MIM) technology and provides end-to-end manufacturing solutions.

According to a Frost & Sullivan report, it is the world's largest manufacturer of precision engineering components using MIM technology, with a 6.8 per cent global market share by revenue in calendar year 2025, a position it has held for the past six years.

Besides MIM, the company also uses investment casting, precision machining, ceramic injection molding and metal 3D printing technologies to cater to the automotive, defence, medical, consumer and aerospace sectors.

Indo MIM operates 15 manufacturing facilities globally -- six in India, six in the US, two in the UK and one in Mexico. It manufactured more than 9,000 product types in FY26 across its automotive, defence, medical, consumer and aerospace businesses.

For FY26, the company reported revenue from operations of Rs 4,193 crore and profit after tax of Rs 533 crore.

Half of the net offer has been reserved for Qualified Institutional Buyers (QIBs), 15 per cent for non-institutional Investors and the remaining 35 per cent for retail investors.

Investors can bid for a minimum of 30 equity shares and in multiples of 30 shares thereafter.

As per the RHP, the company has no listed peers in India, while its only global listed peer is Jiangsu Gian Technology Co. Ltd, listed on the Shenzhen Stock Exchange in China.

The company's equity shares are proposed to be listed on the BSE and NSE on July 30.

HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital Company and SBI Capital Markets are the book-running lead managers to the issue.

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