INDO-MIM was incorporated on April 12, 1996. The company provides end-to-end solutions for precision engineering components using metal injection molding (MIM), including mold design, tooling, finishing, and assembly. With over 25 years of experience, it is the world’s largest MIM manufacturer, holding a 7% global revenue market share in FY25
| Bidding Dates |
|---|
| 23 Jul 2026 - 27 Jul 2026 |
| Subscription |
|---|
| 72.34x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,830 | 1 | 13 | 30 | 78.6 M | ₹461 - ₹485 | 77.65 % | ₹36234.7 M - ₹38121.1 M | RHP DOC |
IndoMIM IPO SUBSCRIPTION STATUS
27 Jul '26IndoMIM IPO overall subscription rate was 72.34 times the total available shares
IndoMIM IPO retail subscription rate was 6.67 times in the retail segment
IndoMIM IPO non-institutional investor subscription rate was 50.63 times in the non-institutional investor category
IndoMIM IPO Qualified Institutional Bidder subscription rate was 204.34 times the available shares for Qualified Institutional Bidder
IndoMIM IPO Employees subscription rate was 9.44 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
27 Jul 2026 (Day 3) | 6.67x | 50.63x | 204.34x | 9.44x |
24 Jul 2026 (Day 2) | 1.89x | 8.44x | 1.11x | 3.02x |
23 Jul 2026 (Day 1) | 0.86x | 3.03x | 0.18x | 1.49x |
IndoMIM FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 4,193.0 | 533.5 | 1,077.2 | 662.3 | 25.5% |
| FY25 | 3,329.6 | 423.7 | 506.3 | 132.8 | 28.0% |
| FY24 | 2,870.4 | 283.7 | 458.3 | 86.9 | 25.9% |
IndoMIM IPO SUBSCRIPTION STATUS DETAILS
IndoMIM had 78.6 M shares on offer
IndoMIM IPO offer price was in the range ₹461 - ₹485
IndoMIM IPO minimum Investment was ₹13830
IndoMIM IPO issue size was ₹ 36234.7 M - ₹ 38121.1 M
IndoMIM had a minimum lot size of 30 Shares per application
IndoMIM NUMBER OF SHARES ON OFFER
IndoMIM IPO IMPORTANT DATES
| Issue Open Date | 23 Jul 2026 |
| Issue close Date | 27 Jul 2026 |
| Allotment Date | 28 Jul 2026 |
| Refund Date | 29 Jul 2026 |
| Demat Account Credit Date | 29 Jul 2026 |
| Listing Date | 30 Jul 2026 |
| Listing on Exchange(s) | NSE and BSE |
| IndoMIM Allotment Status | Exchange/ Registrar |
IndoMIM IPO subscription opened on 23 Jul 2026, and closed on 27 Jul 2026
IPO allotment for IndoMIM was finalized on Tuesday, 28 Jul 2026
IPO listing for IndoMIM was on NSE and BSE on Thursday, 30 Jul 2026
IndoMIM IPO LISTING GAINS
| Issue Price (adjusted) | 485.0 |
| Listing Open Price | 700.0 |
| Listing Close Price | 741.8 |
| Listing Gain% | 44.3% |
| Current Gain% | 78.8% |
IndoMIM Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Indo-MIM Ltd. | 867.4 | 42887.2 | 80.4 | 3.1 | 9.9 | 18.9 | 10.9 | 4320.7 | 28.1 | 533.5 | 25.9 | 10.8 | 25.9 |
| Bharat Forge Ltd. | 2265.2 | 108296.6 | 97.7 | 5.5 | 6.4 | 11.3 | 4.8 | 17010.3 | 10.9 | 1079.7 | 14.7 | 23.2 | 17.7 |
| AIA Engineering Ltd. | 4776 | 44569.8 | 35.1 | 1.8 | 10.1 | 15.8 | 14.9 | 4893.9 | 6 | 1270.2 | 19.7 | 136.1 | 19.7 |
| Happy Forgings Ltd. | 1906.2 | 17990.5 | 54.9 | 2.5 | 11 | 14.2 | 11.4 | 1577.1 | 9 | 301.6 | 12.8 | 34.7 | 21.6 |
| Ramkrishna Forgings Ltd. | 726.6 | 13138.1 | 122.9 | -1.6 | 3 | 2.2 | 1 | 4251.2 | 4.7 | 71.8 | -82.7 | 5.9 | -78.7 |
| Balu Forge Industries Ltd. | 469 | 5693.9 | 22 | 0.8 | 5.1 | 16.2 | 14 | 1140.3 | 21.2 | 258.9 | 27 | 21.3 | 26.9 |
IndoMIM INFORMATION ON IPO ISSUE
About IndoMIM
INDO-MIM was incorporated on April 12, 1996. The company provides end-to-end solutions for precision engineering components using metal injection molding (MIM), including mold design, tooling, finishing, and assembly. With over 25 years of experience, it is the world’s largest MIM manufacturer, holding a 7% global revenue market share in FY25
Object of the Issue
- Repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by the company
- General corporate purposes
IndoMIM - PROMOTERS
| Name |
|---|
| Krishna Chivukula |
| Krishna Chivukula Jr. |
| Raj Chivukula |
| Jagadamba Chandrasekhar |
| Green Meadows Investments Ltd |
IndoMIM - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Krishna Chivukula | Chairman & Managing Director |
| Krishna Chivukula Jr. | Whole-time Director & Chief Executive Officer |
| Jagadamba Chandrasekhar | Non-Independent Non-Executive Director |
| Raj Chivukula | Non-Independent Non-Executive Director |
| Sujitha Karnad | Non-Executive Independent Director |
| Rajni Anil Mishra | Non-Executive Independent Director |
| Roger William Bradley | Non-Executive Independent Director |
| Meera Shankar | Non-Executive Independent Director |
IndoMIM Book Running Lead Manager
HDFC Bank Limited
indomim.ipo@hdfcbank.com
Axis Capital Limited
indomim.ipo@axiscap.in
ICICI Securities Limited
indomim.ipo@icicisecurities.com
Kotak Mahindra Capital Company Limited
indomim.ipo@kotak.com
SBI Capital Markets Limited
indomim.ipo@sbicaps.com
IndoMIM Registrar to the Offer
MUFG Intime India Private Limited
indomim.ipo@in.mpms.mufg.com
IndoMIM Strengths
Diversified product portfolio
The company offers a diverse product portfolio serving automotive, defence, medical, consumer, and aerospace industries. Its products range from vehicle safety and firearm components to surgical device parts, fashion accessories, and precision-engineered tools for global OEMs
Dual-shore manufacturing capabilities
The company operates 15 manufacturing facilities, six in India, six in the U.S., two in the U.K., and one in Mexico, offering cost and logistical advantages through dual-shore manufacturing. Its integrated setup includes MIM production and advanced finishing technologies like plating, heat-treating, grinding, and CNC machining
In-house capabilities
The company offers design and material recommendations with in-house capabilities for fully finished components using 80+ alloy options. Its innovation-driven approach enables 45–50 new tools monthly and leverages technologies like ceramic injection molding, precision machining, investment casting, and metal 3D printing to serve diverse industries
IndoMIM Risks
Pricing pressures
The company faces pricing pressure from customers in the precision components industry, which may affect profit margins. Inability to offset such reductions through efficiency improvements or cost-saving measures could impact its business, financial condition, and cash flows
Customer requirements & compliance risk
The company is subject to stringent customer requirements related to quality and delivery, and any non-compliance may result in order cancellations, product recalls, or liability claims. Since it supplies critical and complex products across multiple sectors, failure to meet precise specifications or quality standards could adversely affect its business, operations, and financial performance
Cyclical demand
The company operates in cyclical manufacturing sectors, where downturns or economic weakness can impact demand. Such fluctuations, driven by technology, regulations, consumer preferences, or broader economic conditions, may adversely affect its business, operations, and financial performance
IPO FAQs
This IPO consists of an offer for sale of up to Rs 3,312.1 crore, of 68,291,022 shares. It also consists of a fresh issue of Rs 500.0 crore.
The promoters of the company are Krishna Chivukula, Krishna Chivukula Jr., Raj Chivukula, Jagadamba Chandrasekhar and Green Meadows Investments Ltd.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 461.0 - 485.0.
The IPO application opens on Jul 23, 2026 and closes on Jul 27, 2026.
The minimum lot size for the IPO is 30. The maximum lot size for the IPO is 390.
For all category investors, the minimum application amount for this IPO is Rs. 13,830.0, the maximum value for this IPO is Rs 189,150.0.
This IPO will be allotted on Jul 28, 2026.
The refund will be credited to your account on Jul 29, 2026.
The allotted shares will be credited to your demat on Jul 29, 2026.
INDO-MIM Ltd.’s shares listed on the stock exchanges on Jul 30, 2026.