Indo-MIM Ltd IPO
Capital Goods-Non Electrical Equipment
Price Band
₹461 – ₹485
Lot Size
30
Minimum Bid Quantity
30
Minimum Investment
₹14550
Issue Size
₹3812.11Cr
Opens
2026-07-23
Closes
2026-07-27
Listing
30-07-2026
Subscription Status
Qualified Institutional Buyers
204.34 x
Non-Institutional Investor
50.61 x
Retail Individual Investor
6.57 x
Employees
9.36 x
Total
72.29 x
IPO Details
Issue Type
EQUITY
Face Value
₹1
Tick Size
1
ISIN
INE084101034
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Indo-MIM Limited is a precision engineering company that manufactures components using metal injection molding (MIM) technology. The company provides end-to-end manufacturing solutions, including mold design, tooling, finishing, and assembly. In addition to MIM, it also uses investment casting, precision machining, ceramic injection molding, and metal 3D printing to manufacture components. Its products serve the automotive, defence, medical, consumer, and aerospace sectors, with applications ranging from vehicle safety systems and firearm components to surgical devices, aerospace parts, and consumer products. During FY26, the company manufactured over 9,000 product types. As of March 31, 2026, Indo-MIM operated 15 manufacturing facilities, including six in India, six in the United States, two in the United Kingdom, and one in Mexico. The company also has sales offices in China, Germany, and the United States, serving customers across North America, Europe, and Southeast Asia. Use of proceeds: The IPO consists of both a fresh issue and an offer for sale (OFS). Net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes: Repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by the company — Rs 400 crore General corporate purposes
Pros
- • The company claims to be the world’s largest manufacturer of precision engineering components using metal injection molding (MIM) technology. According to the F&S Report, it held a 6.8% global market share by MIM revenue in CY2025 and has maintained this position for the last six years. It also claims to provide end-to-end manufacturing capabilities, including mold design, tooling, finishing, and assembly.
- • The company has a diversified manufacturing setup supported by global facilities. As of March 31, 2026, it operated 15 manufacturing facilities across India, the United States, the United Kingdom, and Mexico. It also claims to have vertically integrated capabilities such as investment casting, precision machining, ceramic injection molding, metal 3D printing, heat treatment, plating, CNC machining, and product assembly.
- • The company claims to use advanced manufacturing technologies to improve production efficiency. As of March 31, 2026, it had deployed 436 robots and 476 IoT-enabled machines across its manufacturing facilities. The company also states that its production planning is supported by enterprise resource planning (ERP) and material requirement planning (MRP) systems.
Cons
- • The top 10 customers contributed Rs 1,610.32 crore (38.41%), Rs 1,296.64 crore (38.94%), and Rs 1,205.65 crore (42.00%) to the company’s revenue from operations in FY26, FY25, and FY24, respectively. Any loss of these key customers, a significant reduction in orders, failure to meet their technical requirements, or adverse developments affecting their businesses could negatively impact the company’s revenue, cash flows, and overall financial performance.
- • The company derives a significant portion of its revenue from exports. Revenue from customers outside India stood at Rs 3,236.97 crore (77.20%), Rs 2,993.93 crore (89.92%), and Rs 2,533.49 crore (88.26%) in FY26, FY25, and FY24, respectively. Any adverse economic conditions, trade restrictions, tariff increases, changes in free trade agreements, or a slowdown in key export markets such as North America and Europe could negatively impact the company’s business, revenue, and financial performance.
- • The company relies heavily on imported raw materials for its manufacturing operations. Raw materials sourced from outside India amounted to Rs 533.00 crore (60.95%), Rs 432.55 crore (61.80%), and Rs 293.29 crore (59.63%) of its total raw material purchases in FY26, FY25, and FY24, respectively. Any disruption in imports, fluctuations in global commodity prices, geopolitical tensions, higher import duties, or stricter import regulations could increase input costs, disrupt production, and adversely affect the company’s business and profitability.
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