Indo-MIM IPO: GMP signals 42% listing pop; 10 key things to know from RHP ahead of issue launch on Thursday

Indo-MIM IPO: The initial public offering (IPO) of precision engineering components manufacturer, Indo-MIM, is set to open for public subscription on Thursday, 23 July, and will remain open until Monday, 27 July. The book build issue, with a price band of ₹461 to ₹485 per share, combines a fresh issue and an offer for sale (OFS).

Ahead of the issue launch, the grey market appears to be upbeat about the stock, as the grey market premium (GMP) of Indo-MIM shares on Tuesday morning was ₹202, suggesting the stock could list at a nearly 42% premium over the issue price of ₹485.

As the issue is scheduled to conclude on Monday, share allotment is expected to be finalised on the next business day on Tuesday, 28 July. Indo-MIM shares will list on the NSE and the BSE on Thursday, 30 July.

Here are the 10 key things that investors should know about Indo-MIM IPO from the Red Herring Prospectus (RHP):

Indo-MIM IPO combines a fresh issue of about 1.03 crore shares to raise ₹500 crore and an OFS of 6,82,91,022 shares, aggregating to ₹3,312.1 crore.

Individual promoter Anuradha Koduri and corporate promoter Green Meadows Investments Limited are selling 5,459,000 and 60,524,322 shares, respectively, in the OFS. Moreover, the Indian Institute of Technology Madras is offloading 2,307,700 shares in the OFS.

HDFC Bank Limited, Axis Capital Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are the book-running lead managers, while MUFG Intime India Private Limited is the registrar of the Indo-MIM IPO.

The company intends to use the net proceeds for the repayment or prepayment of all or certain outstanding borrowings. Some of the net proceeds will be used for general corporate purposes.

Green Meadows Investments, Krishna Chivukula, Krishna Chivukula Jr., Raj Chivukula and Jagadamba Chandrasekhar are the promoters of the company.

The company's promoters currently hold an aggregate of 44,44,91,587 shares of face value of ₹1 each, aggregating to 91.81% of the pre-offer issued, subscribed and paid-up share capital of the company on a fully diluted basis.

As on the date of RHP filing, the company's board had eight directors, including two executive directors, six non-executive directors comprising four independent directors, of which three are women independent directors.

Indo-MIM provides end-to-end solutions for the manufacture of precision engineering components using metal injection moulding technology.

The company operates 15 manufacturing facilities, of which six are located in India, six in the United States, two in the United Kingdom, and one in Mexico.

"Our capabilities include mould designing and tooling, coupled with finishing and assembly operations. With over 25 years of experience in the MIM industry, we are the largest manufacturer globally of precision engineering components using MIM technology, with a market share of 6.8% in terms of revenue from MIM in calendar year 2025 and have held this position for the last six years," reads the RHP.

The company's total revenue from operations was ₹2,870.4 crore in FY24, which increased to ₹3,329.6 crore in FY25 and to ₹4,193 crore in FY26. Its profit was ₹283.7 crore in FY24, ₹423.7 crore in FY25, and ₹533.5 crore in FY26.