This Bengaluru-based company wants to raise ₹1,000cr via IPO

Indo MIM to Raise ₹1,000 Crore Through Initial Public Offering (IPO)

Indo MIM has announced plans to raise ₹1,000 crore via an initial public offering (IPO) that will comprise a fresh issue of equity shares. In addition to the fresh issue, shareholders will offer an Offer for Sale (OFS) of 12.97 crore equity shares.

Details of the Offer for Sale (OFS)

The shareholders participating in the OFS include prominent investors such as Green Meadows Investments Ltd, Anuradha Koduri, John Anthony Dexheimer, and the Indian Institute of Technology Madras. This move provides an opportunity for these stakeholders to divest a portion of their holdings in the company.

Pre-IPO Placement

The company is also considering a pre-IPO placement of equity shares worth up to ₹200 crore. If this placement is successfully completed, the amount raised will be adjusted against the fresh issue size accordingly.

Utilization of Funds

Indo MIM plans to utilize ₹720 crore from the IPO proceeds for debt repayment. The remaining funds will be directed toward general corporate purposes to support the company’s growth and operational needs.

About Indo MIM

Founded in 1996, Indo MIM specializes in manufacturing precision engineering components using advanced Metal Injection Molding (MIM) technology. Besides MIM, the company employs investment casting, precision machining, ceramic injection molding, and metal 3D printing processes. Indo MIM caters to a diverse clientele across various sectors, including automotive and aerospace.

Financial Highlights and Issue Details

In the fiscal year 2025 (FY25), Indo MIM reported revenues from operations of ₹3,329 crore and a profit after tax of ₹423 crore. While the company does not have any listed peers in India, it does have a global peer, Jiangsu Gian Technology Co Ltd, which is listed on the Shenzhen Stock Exchange in China.

The IPO is being managed by a consortium of leading financial institutions. HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital, and SBI Capital Markets are appointed as the book-running lead managers for this issue.
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