Indo-MIM IPO GMP, Date, Price Band & Review

INDO-MIM IPO Overview

The INDO-MIM IPO is a book-built issue of ₹3,811 crore, comprising a fresh issue of ₹500 crore and an offer for sale (OFS) of 6.82 equity shares, worth up to ₹3,311 crore, with a face value of equity shares of ₹1 each. The company filed its DRHP on September 26, 2025.

The price band of the issue is between ₹461 and ₹485 per share and the lot size for an application is 30 shares. The minimum amount of investment required by an individual investor (retail investor) is ₹14,550 (30 shares). The IPO will be open for subscription from July 23 to 27, 2026, on the BSE and the NSE platforms, with a tentative listing date fixed as July 30, 2026. The book-running lead managers of the issue are Kotak Mahindra Capital Company Ltd., Axis Capital Ltd., JM Financial Ltd. and J.P. Morgan India Private Ltd., while Link Intime India Private Ltd. will serve as the Registrar to the Offer.

INDO-MIM IPO Date & Timeline

The INDO-MIM IPO is officially set to open for subscription on Jul 23, 2026 and will close on Jul 27, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on September 26, 2025 and has now finalised its schedule following SEBI approval. Once the subscription window closes, allotment is expected on Jul 28, 2026. Following this, the firm will initiate refunds and credit shares to successful investors' demat accounts on Jul 29, 2026. Finally, shares of INDO-MIM Ltd. are tentatively scheduled to list on the stock exchanges on Jul 30, 2026.

INDO-MIM IPO GMP (Grey Market Premium)

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The INDO-MIM IPO GMP is currently trading at ₹187, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹672, which is 38.56% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Indo-MIM Ltd. was founded on April 12, 1996, in Hyderabad, Andhra Pradesh, as ‘A F Technologies India Private Limited.' After changing its name several times, the company changed its name to ‘Indo-MIM Private Limited’ on February 3, 2016. Then, in 2020, the company transferred from Hyderabad to Telangana and then, on September 5, 2023, the company finally converted into a public limited company to proceed with its public listing procedure.

The company is a global leader engaged in manufacturing precision engineering components, primarily utilising Metal Injection Molding (MIM) technology. The firm provides end-to-end capabilities, including mold designing, tooling, finishing and assembly operations. Additionally, the company leverages investment casting, precision machining, ceramic injection molding and metal 3D printing to supply complex components across the automotive, defence, medical, consumer and aerospace industries.

Operations & Product Range

The core operations of INDO-MIM Ltd. involve a refined process known as Metal Injection Molding (MIM), which combines the design flexibility of plastic injection molding with the strength and integrity of wrought metals. It also provides precision machining and investment casting services to offer a "one-stop shop" solution for its clients.

The product range is vast and caters to diverse end-markets. In the medical sector, they produce surgical instruments and implants. In the automotive industry, they manufacture turbocharger components and fuel systems.

Facilities & Capacity

INDO-MIM Ltd. has several state-of-the-art manufacturing facilities. In India, its main manufacturing facilities are situated at Hoskote and Doddaballapur, Karnataka. The company has a substantial manufacturing base in San Antonio, Texas, which is its main hub in North America. The company plans to enhance its facility in Chennai, Tamil Nadu, to raise the installed capacity for MIM and precision machining. This will enable the company to cater to the growing demand for complex metal parts in the global market. The company has a manufacturing facility in Singapore.

Brands & Market Presence

The “INDO-MIM” brand is very well known in the international engineering community as a standard for quality in precision components and is a leader in the global MIM market and is also ranked as one of the largest players by capacity and revenue. A large part of revenue comes from exports to developed markets such as the United States and Europe and it also has various international certifications, such as IATF 16949 for automotive quality, ISO 13485 for medical devices and AS9100 for aerospace and defence. These act as barriers to entry for their competitors and also make them a trusted partner for the original international equipment manufacturers.

Revenue Streams & Business Model

INDO-MIM Ltd. operates a B2B model based on end-to-end precision engineering solutions, integrating product design, tooling, molding, finishing, and assembly. The firm generates revenue predominantly through global exports of custom Metal Injection Molding (MIM) parts, investment castings, ceramic injection components, and 3D-printed metal products. Serving major OEMs across automotive, aerospace, medical, defence and consumer sectors, the business fosters long-term relationships through early-stage co-design, driving high switching costs and recurring sales across customer product lifecycles.

Financial Performance

INDO-MIM Ltd. has demonstrated strong financial performance, highlighted by a strong top-line and profit trajectory. For Fiscal 2026, the company posted revenue from operations of ₹4,320.70 crore, representing a year-on-year growth of 28% from ₹3,373.97 crore in FY 2025. Profit After Tax (PAT) expanded by 26% year-on-year to reach ₹533.54 crore, up from ₹423.73 crore. Additionally, EBITDA surged to ₹1,070.92 crore, reflecting operational efficiency and solid core profitability across its global engineering operations.

Management & Shareholding

INDO-MIM Ltd. is led by its promoters, Krishna Chivukula and Krishna Chivukula Jr., along with other family members and investment entities like Green Meadows Investments Ltd. Before the INDO-MIM IPO, the promoter and promoter group held the vast majority of the equity. Following the IPO, their shareholding will decrease, but they will remain the controlling shareholders. The shareholding structure is designed to maintain the stability of management while allowing for public participation in the company’s growth.

Board & Key Management

The board & key management of INDO-MIM Ltd. is led by Krishna Chivukula (Chairman) and the junior chairman, who is the managing director of the company. The board includes several independent directors with backgrounds in finance, law and engineering to ensure strong corporate governance. The management team consists of seasoned professionals overseeing global sales, manufacturing operations and research and development.