Indo-MIM sets Rs 461-485 band for Rs 3,811 crore IPO
The precision-components maker has set a Rs 461-485 price band for its Rs 3,811.21 crore IPO, which opens on 23 July and closes on 27 July, per the RHP filed with SEBI.
The Development
Indo-MIM Limited, a Bengaluru-based precision-components manufacturer, has set a price band of Rs 461 to Rs 485 per equity share for its initial public offering, sizing the issue at Rs 3,811.21 crore at the upper end of the band. Per the red herring prospectus filed with SEBI, the issue opens for public subscription on 23 July 2026 and closes on 27 July 2026, with anchor-investor bidding scheduled for 22 July. The development was surfaced via coverage on the primary-market desks.
The milestone is the price-band and issue-dates announcement, the point at which a draft offer document becomes the legally operative terms of a mainboard offer. The red herring prospectus was filed with the Registrar of Companies on 17 July 2026 and is listed on SEBI's public-issues filings portal. At the top of the band, the company is being offered to the market at a valuation reported at roughly Rs 24,000 crore.
This is a mainboard offering that will list on both the National Stock Exchange and the BSE. Per the schedule in the offer document, the basis of allotment is expected on 28 July, with listing slated for 30 July 2026.
The Company
Indo-MIM manufactures precision components using metal injection moulding, a process that combines fine metal powders with a binder to form complex, high-tolerance parts at scale. Per the RHP, the company serves customers across the automotive, defence, medical, consumer and aerospace industries, and describes a portfolio exceeding 6,400 products supplied to more than 1,000 customers.
The company discloses a manufacturing footprint of facilities across India and overseas, including operations in the United States, the United Kingdom and Mexico. This spread positions Indo-MIM as a supplier into global industrial and engineering supply chains rather than a purely domestic manufacturer.
On financials, the company discloses revenue of Rs 4,320.70 crore for the most recent reported financial year, up from Rs 3,373.97 crore in the preceding year, per figures in the offer document. Profit after tax is disclosed at Rs 533.54 crore, against Rs 423.73 crore a year earlier. The RHP also reports a return on equity of about 21.3 per cent and a profit-after-tax margin of about 12.7 per cent for the latest reported period. These figures are as stated in the offer document and are reproduced here without independent valuation commentary.
The Offer Structure
Per the RHP, the Rs 3,811.21 crore offer is a combination of a fresh issue of equity shares aggregating up to Rs 499.10 crore and an offer for sale of up to 6,82,91,022 equity shares by existing shareholders. In an offer for sale, the proceeds flow to the selling shareholders rather than to the company; only the fresh-issue portion is received by Indo-MIM itself.
The price band is Rs 461 to Rs 485 per share and the lot size is 30 shares, which places the minimum retail application at Rs 14,550 at the upper end of the band. Readers working through the arithmetic of a possible allotment can use Oquilia's lumpsum calculator or CAGR calculator, and prior coverage sits on the Oquilia news desk.
The stated objects of the fresh issue, per the offer document, include the repayment or prepayment of certain outstanding borrowings, alongside general corporate purposes. The book-running lead managers named for the issue are HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital and SBI Capital Markets, with MUFG Intime India acting as registrar to the issue.
Risk Factors
The risk factors below are drawn from the offer document's own risk-factors section and are reported as disclosures the company was required to make, not as an assessment by this desk.
The RHP flags dependence on a concentrated set of customers and end-user industries, meaning a slowdown in the automotive or industrial sectors it supplies could weigh on revenue. Among the risk factors the company discloses is exposure to raw-material sourcing and pricing, as metal injection moulding relies on specialised metal powders and binders whose availability and cost can fluctuate.
The offer document also lists foreign-currency exposure, given a meaningful share of revenue and operations sits outside India, so exchange-rate movements can affect reported earnings. The RHP notes the operational and regulatory complexity of running facilities across multiple jurisdictions. Prospective applicants are directed to the complete risk-factors section of the RHP, which sets out these and other risks in full.
What Happens Next
With the price band and dates now set, the standard mainboard mechanics follow. Anchor-investor allocation is scheduled for 22 July 2026, ahead of the public issue window that opens on 23 July and closes on 27 July. During those days the exchanges publish category-wise subscription figures for qualified institutional buyers, non-institutional investors and retail individual investors.
After the issue closes, the registrar finalises the basis of allotment, expected on 28 July, followed by refunds and the unblocking of application amounts for unsuccessful or partially successful applicants. Shares are then credited to demat accounts ahead of listing on the NSE and BSE, scheduled for 30 July 2026. These are process steps stated in the record and are not a prediction of demand or of the eventual listing price.
FAQ
Should I apply for this IPO?
Oquilia does not make recommendations. This report is informational and is not investment advice or a recommendation to subscribe. The RHP, including the complete risk-factors section, is available on SEBI's website and the exchanges. Read it directly before making any decision.
What is the price band and lot size?
Per the RHP, the price band is Rs 461 to Rs 485 per equity share and the lot size is 30 shares. At the upper end of the band, one lot works out to Rs 14,550, which is the minimum application amount for a retail applicant.
When does the issue open and close?
Per the offer document and exchange schedule, anchor bidding is on 22 July 2026, the issue opens on 23 July and closes on 27 July 2026. The basis of allotment is expected on 28 July, with listing scheduled for 30 July 2026.
How much of the issue is a fresh issue?
The Rs 3,811.21 crore offer comprises a fresh issue of Rs 499.10 crore and an offer for sale of up to 6,82,91,022 equity shares by existing shareholders. Only the fresh-issue proceeds go to the company; the offer-for-sale proceeds go to the selling shareholders.
Where can I read the RHP?
The red herring prospectus and abridged prospectus are filed with SEBI and available on the SEBI website under Filings, Public Issues, as well as on the exchanges and the lead managers' sites. It carries the full risk-factors section and financials.
This report is based on the red herring prospectus filed with SEBI and the issue terms set out in that document. It was surfaced via primary-market coverage aggregated on Google News.