Indo MIM plans ₹1,000 crore IPO
Indo MIM, a Bengaluru-based precision manufacturing company, is looking to raise ₹1,000 crore through an IPO.
Most of the funds—₹720 crore—will go toward clearing debt, with the rest for general business needs.
The plan includes issuing new shares and possibly a pre-IPO placement of up to ₹200 crore.
Existing investors like Green Meadows Investments and IIT Madras will also sell 12.97 crore shares via an offer for sale.
What does Indo-MIM do?
Started in 1996, Indo MIM makes high-precision parts using metal injection molding (MIM), along with investment casting, ceramic injection molding, metal 3D printing, and more.
Their components end up in everything from cars and medical devices to aerospace and defense tech.
Indo MIM runs 15 factories worldwide—including six each in India and the US.
Financials and peers
In FY24 (the year ending March 2024), Indo MIM posted revenue of ₹3,329 crore with a profit after tax of ₹423 crore.
It doesn't have any direct competitors on Indian stock exchanges; its closest peer is Jiangsu Gian Technology in China.
The IPO is being managed by HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital Company, and SBI Capital Markets.