Indo-MIM IPO Review 2026

The Indo-MIM IPO is one of the largest mainboard IPOs of 2026, raising ₹3,811.21 crore through a combination of a fresh issue and an Offer for Sale (OFS). The company is a global leader in Metal Injection Molding (MIM) technology, manufacturing high-precision engineering components for industries such as automotive, aerospace, defence, medical devices, and consumer products.

With operations spanning multiple countries, over 1,100 global customers, and the world's largest installed MIM manufacturing capacity, Indo-MIM has built a strong position in precision engineering. This article explores the IPO details, company strengths, financials, risks, valuation, and whether investors should consider applying.

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Indo-MIM IPO Details

Particular	Details
IPO Type	Mainboard Book Built Issue
Issue Size	₹3,811.21 Crore
Fresh Issue	₹499.10 Crore
Offer for Sale	₹3,311.21 Crore
Face Value	₹1 per Share
Price Band	₹461 – ₹485
Lot Size	30 Shares
Minimum Investment	₹14,550
Listing	NSE & BSE
Registrar	MUFG Intime India Pvt. Ltd.
Lead Managers	HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital, SBI Capital Markets

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Indo-MIM IPO Important Dates

Event	Date
IPO Opens	23 July 2026
IPO Closes	27 July 2026
Allotment	28 July 2026
Refunds	29 July 2026
Shares Credited	29 July 2026
Listing Date	30 July 2026

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Indo-MIM IPO Price Band

The IPO is priced between ₹461 and ₹485 per equity share.

Retail investors need a minimum investment of ₹14,550 for one lot consisting of 30 shares.

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Indo-MIM IPO Lot Size

Investor Category	Lots	Shares	Investment
Retail Minimum	1	30	₹14,550
Retail Maximum	13	390	₹1,89,150
Small HNI	14	420	₹2,03,700
Big HNI	69	2,070	₹10,03,950

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About Indo-MIM Ltd.

Founded in 1996, Indo-MIM is a global manufacturer of precision engineering components using Metal Injection Molding (MIM) technology. The company offers complete manufacturing solutions, including mold design, tooling, machining, finishing, and assembly.

Apart from MIM, the company also specializes in:

• Investment Casting

• Precision Machining

• Ceramic Injection Molding

• 3D Metal Printing

Its products are used across several industries:

• Automotive

• Defence

• Medical Devices

• Consumer Products

• Aerospace

Indo-MIM operates 15 manufacturing facilities across India, the United States, the United Kingdom, and Mexico, supported by a global sales network spanning Asia, Europe, and North America.

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Competitive Strengths

Global Leader in MIM Technology

The company is recognized as one of the largest manufacturers of precision components using Metal Injection Molding technology.

Diversified Customer Base

Serving over 1,100 customers globally, Indo-MIM caters to multiple industries, reducing dependency on any single sector.

Strong Manufacturing Infrastructure

With manufacturing facilities across four countries, the company has established significant production capacity and international reach.

Backward Integration

Its vertically integrated manufacturing process improves operational efficiency and quality control.

Experienced Management

The company has nearly three decades of experience and maintains long-term relationships with leading OEMs worldwide.

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Financial Performance

Revenue Growth

Financial Year	Revenue (₹ Cr.)
FY24	2,900.38
FY25	3,373.97
FY26	4,320.70

Revenue increased by approximately 28% during FY26.

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Profit After Tax (PAT)

Financial Year	PAT (₹ Cr.)
FY24	283.73
FY25	423.73
FY26	533.54

The company reported a 26% increase in net profit year over year.

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EBITDA

Year	EBITDA (₹ Cr.)
FY24	743.46
FY25	932.60
FY26	1,070.92

The business has maintained healthy operating margins despite expansion.

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Key Financial Ratios

Ratio	FY26
ROE	21.26%
ROCE	26.60%
Debt/Equity	0.39
PAT Margin	12.72%
EBITDA Margin	25.54%
Price to Book	10.63

These ratios indicate strong profitability and efficient capital utilization.

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IPO Objectives

The fresh issue proceeds will primarily be used for:

• Repayment or prepayment of outstanding borrowings (₹400 crore)

• General corporate purposes

Since a significant portion of the IPO is an Offer for Sale, most of the total issue proceeds will go to existing shareholders rather than the company.

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Shareholding Pattern

Particular	Holding
Pre-Issue Promoter Holding	92.94%
Post-Issue Promoter Holding	77.65%

Promoters continue to retain a majority stake after the IPO.

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Subscription Status (Day 1)

As of 23 July 2026, the IPO was subscribed approximately:

• Retail: 0.33x

• NII: 0.74x

• Employee: 0.68x

• QIB (Ex-Anchor): 0.00x

• Overall: 0.33x

Subscription levels may change throughout the bidding period.

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Valuation Analysis

At the upper price band:

• Post-Issue EPS: ₹10.79

• P/E Ratio: 44.95x

The IPO is priced at a premium valuation. Investors should weigh the company's global leadership and growth prospects against the relatively higher earnings multiple.

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Risks to Consider

• Premium valuation compared with current earnings.

• A large Offer for Sale means much of the issue benefits existing shareholders.

• Export-oriented operations expose the company to currency fluctuations and global demand cycles.

• Precision engineering is capital-intensive and subject to industrial demand trends.

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Indo-MIM IPO GMP

The Grey Market Premium (GMP) changes daily depending on market sentiment and demand. Since GMP is unofficial and unregulated, investors should not rely on it as the sole basis for investment decisions.

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Should You Apply?

Positives

• Global leader in Metal Injection Molding technology.

• Presence across automotive, aerospace, medical, defence, and consumer sectors.

• Strong revenue and profit growth.

• Healthy return ratios.

• Diversified global customer base.

• Large manufacturing footprint.

Concerns

• Premium valuation.

• Large OFS component.

• Global economic and export-related risks.

Overall, Indo-MIM is a fundamentally strong precision engineering company with an established global presence. Long-term investors who are comfortable with the valuation may consider evaluating the IPO in line with their investment objectives and risk tolerance.

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Apply for Indo-MIM IPO Through ATS

Apply for the Indo-MIM IPO quickly and securely through the ATS IPO platform.

Why Choose ATS?

• Easy online IPO application

• UPI-based ASBA process

• Secure and paperless investing

• Real-time application tracking

• Fast and seamless order placement

Apply Here: https://ipo.adityatrading.in

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Frequently Asked Questions (FAQs)

When does the Indo-MIM IPO open?

The IPO opens on 23 July 2026 and closes on 27 July 2026.

What is the price band?

The price band is ₹461–₹485 per share.

What is the minimum investment?

Retail investors need ₹14,550 to apply for one lot of 30 shares.

When is the allotment?

The tentative allotment date is 28 July 2026.

When will Indo-MIM list?

The company is expected to list on 30 July 2026 on the NSE and BSE.

Is Indo-MIM IPO good for long-term investment?

Indo-MIM has demonstrated consistent growth, global manufacturing capabilities, and a diversified customer base. Investors should assess the company's premium valuation alongside its long-term growth potential before making an investment decision.