IIT Madras plans partial sale of INDO-MIM stake in IPO
The Indian Institute of Technology Madras (IIT Madras) has announced plans to monetise around half of its shareholding in INDO-MIM Ltd, Bengaluru, through the company’s forthcoming Initial Public Offering (IPO).
INDO-MIM founder and IIT Madras alumnus Dr Krishna Chivukula has gifted a 1% stake in the company to IIT Madras, in recognition of its role in helping shape INDO-MIM into one of the world’s largest manufacturers of precision engineering components using Metal Injection Molding.
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IIT Madras is proposing to sell up to 2,307,700 equity shares out of its total holding of 4,615,385, which accounts for around 1% of the total equity capital of INDO-MIM.
The total value of IIT Madras’ holding is estimated at more than INR ₹140 crore (approx $15.2 million) at the expected valuation.
In September 2024, Dr Chivukula made one of the largest single donations of ₹228 crore (approx $25 million) to IIT Madras.
