– Rs. 1,000 crore to be raised as fresh capital; OFS of ~12.97 crore equity shares
Bengaluru, September 29, 2025 – Indo MIM Limited, world’s largest manufacturer of precision engineering components using metal injection molding (MIM) technology (as per a F&S report) has filed the draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise funds through an initial public offering (IPO).
According to the DRHP, the proposed IPO of the Bengaluru-headquartered company combines a fresh issue of equity shares aggregating up to Rs. 1,000 crore with an offer for sale (OFS) of up to 12,96,74,393 equity shares (12.97 crore equity shares) by the selling shareholders.
As part of the OFS, following will be offloading shares – Green Meadows Investments Ltd (up to 12.05 crore equity shares), Anuradha Koduri (up to 54.59 lakh equity shares), John Anthony Dexheimer (up to 14 lakh equity shares) and Indian Institute of Technology Madras (23.07 lakh equity shares).
Green Meadows Investments Ltd, Krishna Chivukula, Krishna Chivukula Jr., Raj Chivukula and Jagadamba Chandrasekhar are the Promoters of the company.
Indo MIM proposes to utilize the Net Proceeds of the Fresh Issue towards pre-payment or re-payment, in full or in part, of certain outstanding borrowings worth Rs. 720 crore and remaining towards general corporate purposes.
Incorporated in 1996, Indo MIM provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding technology. In addition to MIM technology, the company leverages technologies such as investment casting, precision machining, ceramic injection molding and metal three-dimensional (3D) printing to cater to customers in the automotive, defence, medical, consumer and aerospace sectors.
Indo MIM has the world’s largest installed capacity for MIM products operating 15 manufacturing facilities globally, of which six are located in India, six in the United States, two in the United Kingdom and one in Mexico.
The product portfolio includes the Automotive Products Group (APG) consisting of components used in vehicle safety, fuel systems, powertrains, and interior applications; the Defence Products Group (DPG) where it manufactures firearm components such as triggers, hammers and sights; in the Medical Products Group (MPG), where it manufactures a range of components for surgical devices in fields such as endoscopy, laparoscopy, dental robotics and orthopedics; the Consumer Products Group (CPG) where it supplies products for fashion accessories, crossbow parts, cellphone components, tools and hardware applications and the Aerospace Products Group (Aerospace) where it manufactures components such as manifolds and precision housings, adaptors and tees, servo motor housing, nozzles and locking rings and clevises and brackets for OEMs.
IN FY25, Indo MIM reported revenue from operations at Rs. 3,329 crore and profit after tax (PAT) stood at Rs. 423 crore.
The company, in consultation with the BRLMs, may consider a Pre-IPO Placement aggregating up to Rs. 200 crore; prior to filing of the Red Herring Prospectus with the ROC. If the Pre- IPO Placement is undertaken, then the fresh issue will be reduced to the extent of such Pre-IPO placement.
As per the DRHP, Indo MIM has no listed peers in India and has only one global listed peer – Jiangsu Gian Technology Co. Ltd which is listed on the Shenzhen Stock Exchange in China.
HDFC Bank Limited, Axis Capital Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the issue.
The equity shares of the company are proposed to be listed on BSE and NSE.
