IIT Madras to receive 112cr as Indo-MIM launches IPO Thursday
Business
IIT Madras is about to pocket ₹112 crore by selling one-half of its 1% stake in Indo-MIM as the company launches its initial public offering, or IPO, Thursday.
Fun fact: that stake was a gift from Indo-MIM founder Krishna Chivukula, who graduated from IIT Madras back in 1970.
Indo-MIM seeks 3,812cr IPO, 533cr profit
Indo-MIM, known for precision engineering, is aiming to raise ₹3,812 crore with shares priced between ₹461 and ₹485. The IPO includes fresh equity and shares sold by major investors.
With 15 factories worldwide and clients across automotive, aerospace, and medical sectors, Indo-MIM posted a solid fiscal 2026: ₹533 crore net profit on ₹4,193 crore revenue.
Part of the funds will help cut down its debt.