Indo MIM sees strong aerospace demand ahead as IPO opens on July 23

Precision engineering components maker Indo MIM Ltd on Monday sounded bullish on the growth of the domestic aerospace industry and said that engine applications will be the company’s focus area going forward.

“The aerospace industry in India is growing strongly. It took a while, if you really look at it, things started kicking off the ground, in the Indian aerospace industry from a manufacturing perspective, right around 2010-2012.

“Things were a bit slow for a while, but it definitely feels like in the last 5-7 years, there’s been a very, very big acceleration in the way foreign OEMs look at India, both as a destination to develop engineering talent and resources and also do manufacturing for the aerospace industry,” Krishna Chivukula, Promoter, Whole-time director and CEO of Indo-MIM Ltd told PTI in an interaction on the sidelines of the company’s forthcoming IPO roadshow here.

Stating that the trend is going to continue in the future, he said, “There are a lot of things which are driving it from the demand side.”

There is incredible demand for jet engines coming out of Southeast Asia, which is only going to continue, he said and added, “The development of AI data centres is putting a lot of demand on land-based gas turbines, which are basically turbine jet engines. So two big tailwinds in that industry are going to drive a lot of demand in the future, and I think it looks really bright.”

When asked if the aerospace industry was going to the key focus area for the company going forward, he said, “I would say engine applications would be the biggest one. But the whole aerospace industry is going to grow.”

He said that as there was going to be a demand for more planes, it would require more structures, landing gears and more coatings and special processes, as well as engines.

“But our focus definitely is on engine application,” he said.

Earlier at the event, the company announced a price band of Rs 461-485 per share for its Rs 3,812 crore initial public offering (IPO), which will open for public subscription on July 23.

The company plans to utilise Rs 400 crore from the fresh issue proceeds towards pre-payment or repayment of certain outstanding borrowings, while the remaining amount will be used for general corporate purposes.

Incorporated in 1996, Indo MIM manufactures precision engineering components using Metal Injection Molding (MIM) technology and provides end-to-end manufacturing solutions. Besides MIM, the company also uses investment casting, precision machining, ceramic injection molding and metal 3D printing technologies to cater to the automotive, defence, medical, consumer and aerospace sectors.

Indo MIM operates 15 manufacturing facilities globally -- six in India, six in the US, two in the UK and one in Mexico. It manufactured more than 9,000 product types in FY26 across its automotive, defence, medical, consumer and aerospace businesses.

For FY26, the company reported revenue from operations of Rs 4,193 crore and profit after tax of Rs 533 crore.