Indo-MIM IPO Review 2026: Dates, Price Band, GMP, Financials, and Subscription Details

20 Jul 2026 , 06:37 PM

The Indo-MIM IPO is one of the biggest public issues hitting the Indian primary market in July 2026. The company plans to raise ₹3,811.21 crore through a combination of a fresh issue and an offer for sale (OFS). Backed by strong financial growth, global manufacturing capabilities, and leadership in Metal Injection Molding (MIM) technology, the IPO has already generated significant interest among retail and institutional investors.

The IPO opens for subscription on 23 July 2026 and closes on 27 July 2026, with a tentative listing on 30 July 2026 on both the NSE and BSE.

Indo-MIM IPO Details

Particulars	Details
IPO Opening Date	23 July 2026
IPO Closing Date	27 July 2026
Basis of Allotment	28 July 2026
Refund Initiation	29 July 2026
Shares Credited	29 July 2026
Listing Date	30 July 2026
Issue Type	Book Built Issue
Face Value	₹1 per share
Price Band	₹461–₹485 per share
Lot Size	30 Shares
Minimum Investment	₹14,550
Issue Size	₹3,811.21 Crore
Fresh Issue	₹499.10 Crore
Offer for Sale	₹3,311.21 Crore
Listing	NSE & BSE

Indo-MIM IPO GMP Today

As of 20 July 2026, the Grey Market Premium (GMP) stands at ₹203 per share.

• IPO Price: ₹485
• GMP: ₹203
• Estimated Listing Price: ₹688
• Estimated Listing Gain: 41.86%
• Estimated Profit Per Lot: ₹6,090

While the GMP indicates strong investor demand, investors should remember that grey market premiums are unofficial and can fluctuate until listing.

About Indo-MIM Limited

Founded in 1996, Indo-MIM Limited is among the world’s leading manufacturers of precision engineering components using Metal Injection Molding (MIM) technology.

The company provides complete manufacturing solutions including:

• Product design
• Tooling
• Mold manufacturing
• Metal Injection Molding
• Precision machining
• Investment casting
• Ceramic Injection Molding
• 3D Metal Printing
• Surface finishing
• Assembly

Over the years, Indo-MIM has become one of the largest integrated precision engineering companies serving global OEMs.

Diverse Product Portfolio

Indo-MIM manufactures more than 6,400 products across multiple industries.

Automotive

• Safety components
• Fuel systems
• Powertrain parts
• Interior components

Defence

• Firearm triggers
• Hammers
• Sights
• Precision weapon components

Medical

• Endoscopy instruments
• Laparoscopic devices
• Orthopedic components
• Dental robotics parts

Consumer Products

• Mobile phone components
• Fashion accessories
• Hardware
• Crossbows
• Tools

Aerospace

• Manifolds
• Nozzles
• Locking rings
• Brackets
• Clevises
• Housings

Global Manufacturing Footprint

Indo-MIM operates 15 manufacturing facilities across:

• India
• United States
• United Kingdom
• Mexico

It also maintains sales offices in:

• China
• Germany
• USA

Along with representatives spread across Europe and Asia.

The company served over 1,100 customers during FY2026.

Competitive Strengths

Some of the major strengths of Indo-MIM include:

• World’s largest installed Metal Injection Molding (MIM) capacity
• Strong relationships with global OEM customers
• Diversified presence across automotive, defence, aerospace, healthcare and consumer industries
• Backward integrated manufacturing model
• Export-oriented business with global distribution
• Strong management team with decades of experience
• Consistent financial performance and profitability

Indo-MIM Financial Performance

The company has demonstrated consistent revenue and profit growth over the past three financial years.

Financials (₹ Crore)	FY24	FY25	FY26
Total Income	2,900.38	3,373.97	4,320.70
EBITDA	743.46	932.60	1,070.92
PAT	283.73	423.73	533.54
Assets	3,757.51	4,140.84	4,897.33
Net Worth	2,050.51	2,199.43	2,819.55
Borrowings	1,085.01	1,247.20	1,090.49

FY26 Highlights

• Revenue Growth: 28% YoY
• PAT Growth: 26% YoY
• Debt reduced significantly
• Healthy cash generation
• Strong return ratios

Key Performance Indicators (KPIs)

KPI	FY26
ROE	21.26%
ROCE	26.60%
Debt/Equity	0.39
PAT Margin	12.72%
EBITDA Margin	25.54%
Post Issue EPS	₹10.79
Post Issue P/E	44.95x
Price to Book	10.63x

The company maintains strong profitability while reducing leverage, reflecting improving operational efficiency.

Objectives of the IPO

The proceeds from the fresh issue will primarily be used for:

• Repayment or prepayment of borrowings worth ₹400 crore
• General corporate purposes

Lower debt is expected to strengthen the company’s balance sheet and reduce finance costs going forward.

Shareholding Pattern

Particular	Percentage
Promoter Holding (Pre Issue)	92.94%
Promoter Holding (Post Issue)	77.65%

IPO Lead Managers

The issue is being managed by:

• HDFC Bank Limited
• Axis Capital Limited
• ICICI Securities Limited
• Kotak Mahindra Capital Company Limited
• SBI Capital Markets Limited

Registrar to the Issue:

• MUFG Intime India Private Limited

Valuation Analysis

At the upper price band of ₹485, the IPO is valued at a post-issue P/E of nearly 45x.

Although the valuation appears premium, investors may justify it considering:

• Market leadership in MIM technology
• Strong export business
• High ROE and ROCE
• Consistent earnings growth
• Global manufacturing footprint
• Diversified customer base
• Healthy order pipeline

 

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