Bengaluru-based Indo-MIM, a global leader in metal injection molded products, is set to launch its initial public offering on July 23, 2026, targeting around ₹500 crore via fresh share issuance after scaling back the issue size from an earlier ₹1,000 crore plan. As per Moneycontrol, the precision engineering firm had been seeking up to ₹1,000 crore in an IPO planned for March but postponed the offering amid heightened geopolitical tensions in the Middle East. The company has since cut the target raise to roughly 40% lower, with deliberations ongoing and details including timing, valuation and final issue size still subject to change. The anchor book will be launched for a day on July 22, and the offer will remain open for public subscription till July 27, with price band details to be announced next week.
Through an addendum to the draft document dated July 14, 2026, the precision components maker reduced the fresh issue size by 50 percent following SEBI's introduction of new regulations allowing companies to revise their IPO size by up to 50 percent without re-filing the Draft Red Herring Prospectus (DRHP). The revived offering comes as overseas investors return to Indian equities, purchasing a net $2.1 billion of local shares so far this month, according to Bloomberg-compiled data. This improved sentiment has prompted several companies with delayed listing plans to return to the market, with 178 firms receiving regulatory approval from SEBI to launch IPOs over the past year. The SEBI approved the company's IPO document in December 2025.
The offer-for-sale component has been revised to 6.82 crore equity shares. According to the revised structure, Green Meadows Investments, the corporate promoter, will sell 6.05 crore equity shares through the OFS, while Anuradha Koduri will offload 54.59 lakh shares and the Indian Institute of Technology Madras will sell 23.07 lakh shares. However, John Anthony Dexheimer's proposed sale of 14 lakh shares has been dropped from the revised OFS component. As per Moneycontrol, the original IPO comprised a ₹10 billion ($104 million) primary share sale and an offer for sale of about 129.7 million shares, representing roughly 26% of the company's equity by existing shareholders. The company has reserved 2 lakh shares for its employees, with 50% of the net offer size reserved for qualified institutional buyers, 15% for non-institutional investors, and the remaining 35% for retail investors.
Following the reduction in the issue size, the company also revised the objects of the issue. As reported by Indo-MIM, ₹400 crore of the net fresh issue proceeds will be utilised for repayment of loans, while the remaining amount will be used for general corporate purposes. The Bengaluru-based company manufactures precision engineering components using metal injection molding (MIM) technology, catering to global customers across the automotive, defence, medical, consumer, and aerospace sectors. With 15 manufacturing facilities globally, including 6 in India, 6 in the US, 2 in the UK, and 1 in Mexico, the company had the world's largest installed capacity for MIM products as of March 2025. As of May 2026, the company's aggregate outstanding borrowings were ₹1,212.3 crore on a consolidated basis.
The company has demonstrated robust financial performance in recent years, with profit growing by 26% to ₹533.5 crore in fiscal 2026 and revenue increasing by 26% to ₹4,193 crore compared to the previous year. Indo-MIM claims to be the largest manufacturer globally of precision engineering components using MIM technology with a market share of 6.8%, catering to more than 9,000 types of products across automotive, defence, medical, consumer, and aerospace sectors. The IPO share allotment will be finalized by July 28, while equity shares will be available for trading on the BSE and NSE on July 30. HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital Company, and SBI Capital Markets have been appointed as the merchant bankers for the Indo-MIM IPO.
