The initial public offering (IPO) of Indo-MIM witnessed strong demand from both retail and non-institutional investors on its opening day of bidding on July 23.
The IPO, which will remain open for subscription until July 27, received bids for 6.29 crore shares against the 4.45 crore shares on offer, resulting in an overall subscription of 1.41 times by the end of Day 1, according to exchange data.
Among the investor categories, the non-institutional investors (NII) segment attracted the highest interest, getting subscribed 3.04 times, followed by the retail investor portion at 0.88 times. The qualified institutional buyers (QIB) category was subscribed 0.18 times.
Indo-MIM IPO details
The Indo-MIM IPO comprises a fresh issue of equity shares worth ₹500 crore and an offer for sale (OFS) of up to ₹3,312 crore by existing shareholders and promoters.
Under the OFS, Green Meadows Investments will sell 6.05 crore equity shares, while Anuradha Koduri and the Indian Institute of Technology Madras (IIT Madras) will divest 54.59 lakh shares and 23.07 lakh shares, respectively.
Indo-MIM plans to utilise ₹400 crore from the net proceeds of the fresh issue towards the repayment or prepayment of certain borrowings, with the remaining funds earmarked for general corporate purposes. As of May 2026, the company’s total consolidated borrowings stood at ₹1,212.3 crore.
The basis of allotment for the Indo-MIM IPO is expected to be finalised on July 28. Successful bidders are likely to receive shares in their demat accounts on July 29, while refunds for unsuccessful applicants are also expected to be initiated on the same day.
The company’s shares are scheduled to make their stock market debut on the BSE and NSE on July 30, subject to the completion of the allotment process.
About the company
Indo-MIM is a Bengaluru-based precision engineering company specialising in the manufacture of components using metal injection moulding (MIM) technology.
The company operates 15 manufacturing facilities across India, the US, the UK, and Mexico and claims to be the world’s largest manufacturer of MIM components, with a 6.8% global market share. Its portfolio comprises more than 9,000 precision-engineered products catering to sectors such as automotive, aerospace, defence, medical, and consumer goods.
In terms of financial performance, the company has posted strong growth in recent years. For FY26, net profit rose 26% year-on-year to ₹533.5 crore, while revenue from operations increased 26% to ₹4,193 crore, driven by healthy demand across its key end markets.
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