Bengaluru-based precision engineering firm Indo-MIM has announced a price band of ₹461-485 for its ₹3,800 crore IPO. The issue, which opens for subscription on July 23, includes a ₹500 crore fresh issue primarily aimed at debt reduction and an offer for sale by existing shareholders.
Indo-MIM Ltd, a manufacturer specializing in metal injection molding (MIM) technology, is set to enter the public market with an initial public offering (IPO) seeking to raise ₹3,800 crore. The company has fixed its price band between ₹461 and ₹485 per share. Potential investors can participate in the subscription from July 23, while anchor investors will have the opportunity to bid on July 22. The subscription window is scheduled to close on July 27.
Issue Structure and Use of Proceeds
The total offer is split into two parts: a fresh issue of shares worth ₹500 crore and an offer for sale (OFS) of existing shares valued at ₹3,312 crore. In an offer for sale, the money goes to the selling shareholders rather than the company. Notable participants in this sale include Green Meadows Investments, individual shareholder Anuradha Koduri, and the Indian Institute of Technology Madras. Indo-MIM intends to use ₹400 crore of the fresh capital to pay down existing debt, which was recorded at ₹1,212.3 crore as of May 2026. The remaining funds from the fresh issue are earmarked for general corporate purposes.
Business Model and Global Footprint
Based in Bengaluru, Indo-MIM utilizes metal injection molding, a manufacturing process that creates complex metal parts with high precision. The company reports that it holds approximately 6.8 percent of the global market share in this niche. Its production network is extensive, with 15 manufacturing facilities located across India, the United States, the United Kingdom, and Mexico. The company serves a wide range of industries, including the automotive, defense, aerospace, medical, and consumer electronics sectors, with a portfolio of over 9,000 different products.
Financial Context
For the fiscal year ending in 2026, the company reported revenue of ₹4,193 crore, marking a 26 percent increase compared to the previous year. Net profit also rose by 26 percent, reaching ₹533.5 crore. At the upper end of the price band, the company is valued at a post-listing market capitalization of approximately ₹23,981.4 crore. Investors looking at the financials will likely monitor the company’s ability to maintain these growth rates while managing the cost of its remaining debt post-IPO.
Monitoring the Next Steps
The final allotment of shares is expected to be finalized by July 28, with refunds and the credit of shares to demat accounts following on July 29. The company is expected to make its debut on Indian stock exchanges on July 30. Investors will be tracking the listing performance and looking for future updates regarding the actual debt reduction progress and the utilization of funds for corporate purposes as outlined in the offer documents.