Indo-MIM IPO Day 1 Live: The initial public offering (IPO) of Indo-MIM Ltd has hit the Indian Primary Market today, and will remain open until 27 July 2026. The company management has offered Indo-MIM shares at a price band of ₹461 to ₹485 per equity share. The company aims to raise ₹3,811 crore, which means the Indo-MIM IPO size is ₹3,811 crore. The book-build issue comprises both fresh shares and an Offer for Sale (OFS). The public issue is proposed for listing on the BSE and NSE exchanges. Meanwhile, the company’s shares are available in the grey market ahead of the Indo-MIM IPO opening date.
According to market observers, the company’s shares are available at a premium of ₹185 in the grey market today. So, the Indo-MIM IPO GMP (Grey Market Premium) today is ₹185.
Indo-MIM IPO subscription status
Bidding for the public issue will begin at 10:00 AM today. It will remain open from 10:00 AM to 5:00 PM on the market working days of the Indo-MIM IPO subscription date.
Indo-MIM IPO detail
1] Indo-MIM IPO GMP today: According to market observers, shares of the company are available at a premium of ₹185 in the grey market today.
2] Indo-MIM IPO date: The public issue has opened today and will remain open until 27 July 2026.
3] Indo-MIM IPO price: The company management has offered Indo-MIM shares at a price band of ₹461 to ₹485 per equity share. The company has declared discount of ₹45 per share for its employees applyting to the public issue under the employee quota.
4] Indo-MIM IPO size: The company aims to raise ₹3,811 crore, which means the Indo-MIM IPO size is ₹3,811 crore. Out of these ₹3,811 crore, the company aims to raise ₹499 crore through the issuance of fresh shares, while the rest of ₹3,311 crore is reserved for the OFS route.
5] Indo-MIM IPO lot size: A bidder will be able to apply for the public issue in lots, and one lot of the public offer comprises 30 company shares.
6] Indo-MIM IPO allotment date: The tentative date for the finalisation of share allotment is 28 July 2026.
7] Indo-MIM IPO registrar: MUFG Intime India Private Ltd has been appointed the official registrar of the book build issue.
8] Indo-MIM IPO listing date: The public issue is proposed for listing on the BSE and NSE exchanges. The most likely date for the share listing is 30 July 2026.
9] Indo-MIM IPO lead managers: HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital, and SBI Capital Markets have been appointed lead managers of the upcoming IPO.
Indo-MIM IPO: Apply or not?
10] Indo-MIM IPO review: On whether one should apply for this bookbuilding issue or not, Mahesh M. Ojha, Vice President — Research & Business Development at KC Securities, said, “At the upper price band, Indo-MIM Limited is valued at 45.0x FY26E P/E, based on a diluted EPS of ₹10.87 as of March 31, 2026. While the valuation commands a premium, it appears justified considering the company’s global leadership in Metal Injection Moulding (MIM), a niche industry with high technological capabilities, significant entry barriers, and limited global competition, The global MIM market, estimated at USD 3.2 billion in 2026, is projected to reach USD 4.7 billion by 2035, implying a 4.4% CAGR and providing a healthy long-term growth runway.”
The KC Securities expert said the company has no direct listed peers in India, while its closest global comparable, Jiangsu Gian Technology Co. Ltd., trades at a meaningfully higher valuation, underscoring the scarcity value of listed MIM businesses. Indo-MIM is also well positioned to capitalise on the China+1 manufacturing shift, supported by India’s favourable policy framework, PLI incentives, and rapidly expanding manufacturing ecosystem. India’s manufacturing value-added is expected to grow at a 12.2% CAGR during CY25–CY31F, significantly outpacing China’s projected 4.3% CAGR, driven by rising foreign investment, supply-chain diversification, and expanding domestic manufacturing capabilities. Given its global leadership, strong competitive moat, scalable business model, and favourable industry tailwinds.
“We believe Indo-MIM is well-positioned to deliver sustainable earnings growth over the long term, supporting its premium valuation. Hence, we recommend investors’ APPLY’ to the issue with a medium to long-term investment horizon,” Mahesh M Ojha of KC Securities said.
Anand Rathi has also assigned an ‘apply’ tag to the bookbuilding issue, saying, “Indo-MIM Limited, the global leader in Metal Injection Moulding (MIM), is valued at ~45.0x P/E on FY26 earnings (at the upper price band). Considering its global market leadership, diversified end-user exposure, integrated manufacturing capabilities, and strong export franchise, the valuation appears reasonable. Accordingly, we recommend subscribing to the IPO from a medium- to long-term investment perspective.”
Beacon Capital Advisors and Swastika Investmart have also assigned an ‘apply’ tag to the Indo-MIM IPO.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
