Indo-MIM IPO GMP today is Rs 187. Investors can use this GMP along with price band and subscription status for a better IPO review.
Open
Mainboard IPO
INDOMIM
Indo-MIM
INDO-MIM Limited provides end-to-end solutions for manufacturing precision engineering components using metal injection molding technology. The company’s core business activities encompass mold designing and tooling, finishing, assembly operations, and backwards-integrated stainless steel powder manufacturing. It serves diverse end-use industries across operating segments, including the Automotive Products Group, Defence Products Group, Medical Products Group, Consumer Products Group, Aerospace, and other offerings involving metal powder, tools, and traded products. INDO-MIM generates revenue through the sale of precision components on a purchase order basis to customers globally across North America, Europe, Southeast Asia, India, and the rest of the world. Operating fifteen manufacturing facilities located in India, the United States, the United Kingdom, and Mexico, the company supplies its products to original equipment manufacturers and diverse commercial sectors globally.
IPO Details
Complete IPO information
| Current GMP | ₹187 |
|---|---|
| Estimated Listing Gain | +38.56% |
| Price Band | ₹461.00 - ₹485.00 |
| Issue Price | ₹485.00 |
| Listing Price | TBA |
| Lot Size | 30 Shares |
| Issue Type | Mainboard |
| Issue Size | Approx ₹3,811.21 Cr |
| Registrar | TBA |
| Exchange | BSE, NSE |
| Retail Quota | TBA |
| Overall Subscription | 3.07x |
| Listing Date | 30 Jul 2026 |
| Minimum Investment | ₹14,550 |
Timeline
IPO roadmap at a glance
01
Bidding Opens
23 Jul 2026
02
Bidding Closes
27 Jul 2026
03
Allotment
28 Jul 2026
04
Listing
30 Jul 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 22 July | ₹195 | -₹5.00 | 40.21% |
| 21 July | ₹200 | -₹10.00 | 41.23% |
| 20 July | ₹210 | - | 43.29% |
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 30 | ₹14,550 |
| Retail Maximum | 13 Lot | 390 | ₹1,89,150 |
| S-HNI Minimum | 14 Lot | 420 | ₹2,03,700 |
| S-HNI Maximum | 68 Lot | 2,040 | ₹9,89,400 |
| B-HNI Minimum | 69 Lot | 2,070 | ₹10,03,950 |
Issue Notes
Important takeaways before applying
Strengths
- INDO-MIM is a leading global provider of precision engineering components utilising metal injection molding technology.
- The company operates fifteen manufacturing facilities across India, the United States, the United Kingdom, and Mexico.
- The company offers end-to-end capabilities ranging from mold designing and tooling to finishing, assembly, and in-house stainless steel powder manufacturing.
- The business is diversified across major end-use industries including automotive, defence, medical, consumer products, and aerospace sectors.
- The company has a global customer footprint with long-standing relationships and exports to markets across North America, Europe, and Asia.
Risks
- The company derives a significant portion of its revenue from its top 10 customers.
- A major portion of revenue from operations is generated from exports to foreign jurisdictions.
- The company generally operates on a purchase order basis without long-term binding supply commitments from customers.
- The company relies on key international suppliers and imports a significant portion of its raw material requirements.
- Promoters, directors, and key managerial personnel have received show-cause notices regarding alleged non-compliance with cost auditor appointment rules.
Analysis
Indo-MIM IPO Details
Indo-MIM Limited is launching its Initial Public Offering (IPO) through the Book Building Issue route. The IPO comprises a combination of a Fresh Issue and an Offer for Sale (OFS). The proceeds from the fresh issue will be utilized for the company's stated objectives, while the OFS proceeds will be received by the existing selling shareholders.
The equity shares of Indo-MIM Limited are proposed to be listed on both the BSE and the NSE, offering investors an opportunity to participate in one of India's leading precision engineering and metal injection molding companies.
| Particular | Details |
|---|---|
| IPO Open Date | July 23, 2026 |
| IPO Close Date | July 27, 2026 |
| Face Value | ₹1 Per Equity Share |
| IPO Price Band | ₹461 to ₹485 Per Share |
| Issue Size | Approx ₹3,811.21 Crores |
| Fresh Issue | Approx ₹499.10 Crores |
| Offer for Sale (OFS) | Approx 6,82,91,022 Equity Shares |
| Issue Type | Book Building Issue |
| IPO Listing | BSE, NSE |
Analysis
Indo-MIM IPO Reservation
The Indo-MIM IPO follows the SEBI-prescribed allocation framework for book-built public issues. The issue is reserved for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs), ensuring participation from institutional as well as retail investors.
The anchor investor portion, if allotted, will be completed prior to the IPO opening. After the anchor allocation, the remaining shares will be distributed among the eligible investor categories according to the applicable reservation percentages.
| Investor Category | Shares Offered | Reservation (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: The exact number of shares reserved for each category will be disclosed after the completion of the anchor investor allocation and in the final basis of allotment documents.
Analysis
Indo-MIM IPO Anchor Investors
The Anchor Investor bidding for the Indo-MIM IPO is scheduled for July 22, 2026, one working day before the public issue opens for subscription. Anchor investors comprise Qualified Institutional Buyers (QIBs) who participate in the IPO before it is made available to the public, helping establish institutional participation and market confidence.
The company will announce the final list of anchor investors, the total shares allotted, and the value of the anchor book after the completion of the allocation process. These details are generally released before the IPO opens for subscription.
| Particular | Details |
|---|---|
| Anchor Bidding Date | July 22, 2026 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date (50% Shares – 30 Days) | 2026 |
| Lock-in Period End Date (Remaining 50% Shares – 90 Days) | 2026 |
Note: The names of anchor investors, the exact number of shares allotted, the anchor investment amount, and the final lock-in expiry dates will be updated after the completion of the anchor allocation process.
Analysis
Indo-MIM IPO Dates
The Indo-MIM IPO will open for public subscription on July 23, 2026 and will remain available for bidding until July 27, 2026. Investors can submit their applications during the subscription window through the ASBA process or UPI-supported platforms offered by registered brokers and banks.
The basis of allotment is expected to be finalized on July 28, 2026. Refunds to unsuccessful applicants and the credit of allotted shares to successful investors' demat accounts are scheduled for July 29, 2026. The equity shares of Indo-MIM Limited are proposed to be listed on both the BSE and the NSE on July 30, 2026.
| Event | Date |
|---|---|
| IPO Open Date | July 23, 2026 |
| IPO Close Date | July 27, 2026 |
| Basis of Allotment | July 28, 2026 |
| Refunds Initiation | July 29, 2026 |
| Credit to Demat Account | July 29, 2026 |
| IPO Listing Date | July 30, 2026 |
Analysis
Indo-MIM IPO Promoters and Holding Pattern
Indo-MIM Limited is promoted by Green Meadows Investments Ltd., Krishna Chivukula, Krishna Chivukula Jr., Raj Chivukula, and Jagadamba Chandrasekhar. The promoter group has been instrumental in establishing the company as a leading manufacturer of precision-engineered metal injection moulded (MIM) components serving customers across multiple industries worldwide.
Following the IPO, the promoters will continue to retain a substantial majority stake in the company. Although the shareholding percentage will decline because of the fresh issue and offer for sale, the promoter group will continue to have significant ownership and management control.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 48,41,53,072 | 92.94% |
| Promoter Holding Post Issue | 49,44,62,350 | 77.65% |
Note: The post-issue promoter holding is based on the proposed IPO structure and may vary slightly depending on the final allotment and issue size. The promoters are expected to remain the controlling shareholders of Indo-MIM Limited after the IPO.
Analysis
Indo-MIM IPO Objects of the Issue & Utilisation of Proceeds
The proceeds from the Indo-MIM IPO will primarily be used to strengthen the company's financial position by reducing its outstanding borrowings. Lower debt levels are expected to improve the company's capital structure, reduce finance costs, and provide greater financial flexibility for future business expansion and operational growth.
Apart from debt repayment, the remaining proceeds will be utilized for general corporate purposes, including supporting day-to-day business operations, strategic initiatives, and other corporate requirements in accordance with the applicable regulations.
| Purpose | Amount |
|---|---|
| Repayment and/or prepayment, in full or part, of all or certain outstanding borrowings availed by the Company | ₹400.00 Crores |
| General Corporate Purpose | ₹- |
Note: The company intends to utilize the fresh issue proceeds in accordance with the objects stated in the Red Herring Prospectus (RHP). Any unutilized funds will be deployed as permitted under applicable laws and SEBI regulations.
Analysis
Indo-MIM - About IPO
Indo-MIM, founded in 1996, manufactures precision engineering components using metal injection molding (MIM) technology. Its product portfolio includes making engineering components for Automotive, Defence, Medical, Consumer, and Aerospace. The firm provides comprehensive solutions including mold design, tooling, finishing, and assembly.
Indo-Mim uses advanced technologies, including investment casting, precision machining, ceramic injection molding, and 3D metal printing, catering to a wide range of industries. The firm manufactures fuel systems, powertrains, triggers, hammers, sights, crossbows, cellphone parts, tools, nozzles, locking rings, clevises, and many more. As of FY25, the firm has manufactured over 6,400 products and operates 3 sales offices in China, Germany, and the United States, serving more than 1,000 customers. The company runs 15 manufacturing facilities in India, the US, the UK, and Mexico.
Analysis
Indo-MIM IPO Company Financial Report
Indo-MIM Limited has demonstrated steady financial growth over the last four financial years, supported by increasing revenue, healthy profitability, and continuous expansion of its asset base. The company has maintained a strong presence in the precision engineering and metal injection moulding industry while serving customers across automotive, medical, aerospace, industrial, and consumer sectors.
The financial performance reflects consistent business expansion, operational efficiency, and improving earnings, providing investors with an overview of the company's financial position before the proposed IPO.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹2,760.65 Cr. | ₹2,141.78 Cr. | ₹462.69 Cr. | ₹3,380.45 Cr. |
| 2024 | ₹2,900.38 Cr. | ₹2,388.70 Cr. | ₹283.73 Cr. | ₹3,757.51 Cr. |
| 2025 | ₹3,373.97 Cr. | ₹2,691.89 Cr. | ₹423.73 Cr. | ₹4,140.84 Cr. |
| 2026 | ₹4,320.70 Cr. | ₹3,508.93 Cr. | ₹533.54 Cr. | ₹4,897.33 Cr. |
Amount in ₹ Crores: The above figures are based on the latest available audited financial statements of Indo-MIM Limited and are intended to provide investors with a snapshot of the company's financial performance prior to the IPO.
Analysis
Indo-MIM IPO Valuation – FY2026
The valuation metrics of Indo-MIM Limited provide investors with valuable insights into the company's profitability, capital efficiency, and overall financial strength before the IPO. Key indicators such as Earnings Per Share (EPS), Return on Equity (ROE), Return on Capital Employed (ROCE), EBITDA Margin, Return on Net Worth (RoNW), and Net Asset Value (NAV) help assess the company's financial performance and business quality.
These valuation parameters should be considered together with the IPO price band, peer company comparison, industry outlook, and future growth prospects before making an investment decision.
| KPI | Values |
|---|---|
| ROE | 21.26% |
| ROCE | 26.60% |
| EBITDA Margin | 25.54% |
| PAT Margin | 12.72% |
| Debt to Equity Ratio | – |
| Earning Per Share (EPS) | ₹11.06 (Basic) |
| Price/Earning (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 21.26% |
| Net Asset Value (NAV) | ₹58.24 |
Note: The above valuation figures are based on the FY2026 financial statements of Indo-MIM Limited. Investors should evaluate these metrics along with the company's financial performance, peer comparison, risk factors, and IPO pricing before investing.
Analysis
Indo-MIM IPO Peer Group Comparison
Comparing Indo-MIM Limited with listed companies operating in the precision engineering and metal injection moulding industry helps investors evaluate the company's financial performance, profitability, valuation, and operational efficiency. Peer analysis offers useful insights into how the company stands relative to established businesses within the sector.
The table below compares key financial indicators, including Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), Net Asset Value (NAV), and annual income of comparable companies.
| Company | EPS | P/E Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Jiangsu Gian Technology Co., Ltd. | 3.91 | 148.00 | 3.10% | 165.13 | ₹4,060.51 Cr. |
Note: The peer comparison is intended for informational purposes only. Investors should consider Indo-MIM Limited's business fundamentals, financial performance, growth prospects, industry outlook, and IPO valuation in addition to peer metrics before making an investment decision.
Analysis
IPO Lead Managers aka Merchant Bankers
- HDFC Bank Ltd.
- Axis Capital Ltd.
- ICICI Securities Ltd.
- Kotak Mahindra Capital Co. Ltd.
- SBI Capital Markets Ltd.
FAQ
Indo-MIM IPO FAQs
Indo-MIM IPO price band is Rs 461.00 to Rs 485.00. Check the latest issue price, lot size and GMP together before applying.
Indo-MIM IPO open date is 23 Jul 2026, close date is 27 Jul 2026, and listing date is 30 Jul 2026.
Indo-MIM IPO lot size is 30 shares. The minimum retail investment is Rs 14,550.
Indo-MIM is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Indo-MIM IPO subscription status currently shows Retail 1.89x, QIB 1.11x, Overall 3.07x.
INDO-MIM Limited provides end-to-end solutions for manufacturing precision engineering components using metal injection molding technology. The company’s core business activities encompass mold designing and tooling, finishing, assembly operations, and backwards-integrated stainless steel powder manufacturing. It serves diverse end-use industries across operating segments, including the Automotive Products Group, Defence Products Group, Medical Products Group, Consumer Products Group, Aerospace, and other offerings involving metal powder, tools, and traded products. INDO-MIM generates revenue through the sale of precision components on a purchase order basis to customers globally across North America, Europe, Southeast Asia, India, and the rest of the world. Operating fifteen manufacturing facilities located in India, the United States, the United Kingdom, and Mexico, the company supplies its products to original equipment manufacturers and diverse commercial sectors globally.
Indo-MIM IPO issue size is 3811.21 and the expected allotment date is 28 Jul 2026.