Indo MIM, a manufacturer of precision components, has submitted preliminary documents to the Securities and Exchange Board of India (SEBI) to secure funding through an initial public offering (IPO) that includes a fresh equity share issue valued at ₹1,000 crore. Additionally, the offering will consist of an offer for sale (OFS) of approximately 12.97 crore equity shares by existing shareholders, as detailed in the draft red herring prospectus (DRHP) filed on Friday.
Key participants in the OFS include Green Meadows Investments Ltd, Anuradha Koduri, John Anthony Dexheimer, and the Indian Institute of Technology Madras, all of whom will be selling shares. Indo MIM may also explore a pre-IPO placement of equity shares amounting to ₹200 crore, with any funds raised through this route deducted from the total fresh issue.
The company plans to allocate ₹720 crore from the proceeds towards debt repayment, with the remainder designated for general corporate uses. Founded in 1996, Indo MIM specializes in manufacturing precision engineering components, primarily utilizing metal injection molding (MIM) technology. Beyond MIM, the firm also incorporates investment casting, precision machining, ceramic injection molding, and metal 3D printing to cater to clients in the automotive, defense, medical, consumer, and aerospace sectors.
Indo MIM operates 15 manufacturing facilities internationally, which include six in India, six in the United States, two in the United Kingdom, and one in Mexico, establishing it as a leading global producer of MIM products based on installed capacity. Its extensive product range is divided into five categories: automotive (including safety and fuel systems), defense (components for firearms), medical (parts for surgical devices), consumer (fashion accessories and tools), and aerospace (various components for original equipment manufacturers).
In the fiscal year ending 2025, Indo MIM reported operational revenue of ₹3,329 crore and a profit after tax of ₹423 crore. The company notes in its DRHP that it does not have any listed peers within India and cites Jiangsu Gian Technology Co Ltd, listed on the Shenzhen Stock Exchange in China, as its only comparable counterpart globally.
HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital Company, and SBI Capital Markets are the designated book-running lead managers for the IPO.
Published on September 28, 2025.
