Indo-MIM prepares for stock market debut following successful anchor allocation
Indo-MIM, headquartered in Bengaluru, India, has closed subscriptions for its ₹3,812 crore (approx US$397 million) Initial Public Offering (IPO) after successfully allocating approximately ₹1,141 crore (US$119 million) to anchor investors ahead of the public offering.
The IPO opened for public subscription on July 23 and was scheduled to close on July 27. Shares are expected to be listed on the BSE and National Stock Exchange (NSE) on July 30.
The company allotted 23.5 million equity shares to ninety-two anchor investors at the upper end of the IPO price band of ₹485 ($5.05) per share, according to a filing with the Bombay Stock Exchange (BSE), raising ₹1,140.99 crore.
Anchor investors were reported to include a number of domestic and international institutional funds, including ICICI Prudential Mutual Fund, HDFC Mutual Fund, SBI Mutual Fund, Kotak Mutual Fund, Aditya Birla Sun Life Mutual Fund, WhiteOak Capital, 360 ONE, Norway’s Government Pension Fund Global, Goldman Sachs Funds, BlackRock Global Funds, Mirae Asset, Motilal Oswal Mutual Fund and Bandhan Mutual Fund.
Domestic mutual funds accounted for approximately 56% of the anchor allocation, receiving 13.2 million shares through sixty schemes, while life insurance companies were allotted 2.27 million shares, representing 9.64% of the anchor portion.
The IPO comprises a fresh issue of equity shares worth ₹500 crore and an Offer for Sale (OFS) of approximately 68.2 million shares by existing shareholders, including Green Meadows Investments Ltd, Anuradha Koduri and the Indian Institute of Technology Madras.
According to the company, ₹400 crore from the proceeds of the fresh issue will be used to prepay or repay outstanding borrowings, with the balance allocated to general corporate purposes.
Indo-MIM manufactures precision-engineered components using Metal Injection Moulding (MIM) technology and provides vertically integrated manufacturing services spanning product design, tooling, feedstock preparation, MIM processing, machining, finishing and assembly. The company also manufactures components using investment casting, precision machining, Ceramic Injection Moulding (CIM) and Additive Manufacturing technologies.
According to a Frost & Sullivan report cited in the company’s Red Herring Prospectus, Indo-MIM was the world’s largest manufacturer of MIM precision-engineered components by revenue in calendar year 2025, with a 6.8% global market share.
