Indo-MIM IPO: GMP Today, Subscription Status & Review

Indo-MIM Limited, the world's largest Metal Injection Moulding (MIM) manufacturer by installed capacity, has launched its Rs 3,811.21 crore IPO for public subscription. The IPO opened on July 23, 2026, will close on July 27, 2026, and is expected to list on the BSE and NSE on July 30, 2026.

As of today, the Indo-MIM IPO GMP is Rs 185. Based on the upper price band of Rs 485, the estimated listing price is around Rs 670 per share, indicating a potential listing gain of about 38%. However, GMP is unofficial and may change before listing.

Here's a quick overview of the IPO, including GMP, subscription status, lot size, financial performance, valuation and other important details to help investors make an informed decision.

📋 Table of Contents

Indo-MIM IPO Key Details

Indo-MIM IPO GMP Today

The Indo-MIM IPO GMP today is Rs 185. Based on the upper price band of Rs 485, the estimated listing price is around Rs 670 per share, indicating a potential listing gain of about 38.14%.

• Current GMP: Rs 185
• Estimated Listing Price: Rs 670
• Estimated Listing Gain: 38.14%

Last updated: July 23, 2026

Based on the current GMP, one retail lot of 30 shares could generate an estimated listing gain of around Rs 5,550. Keep in mind that the Grey Market Premium is unofficial and can change before the shares are listed.

GMP Trend (Last 5 Days)

The GMP has cooled slightly from its recent high but continues to remain strong. Market sentiment is positive ahead of listing, although GMP can change depending on subscription demand and overall market conditions.

Disclaimer: Grey Market Premium (GMP) is an unofficial indicator and should not be considered a guarantee of listing performance.

For the latest GMP updates across all IPOs, visit the IPOwiz Live GMP Tracker.

Indo-MIM IPO Subscription Status

IPO Bidding Period: July 23 to July 27, 2026

The live subscription figures for the Indo-MIM IPO will be updated throughout the bidding period. Investors should keep an eye on QIB participation and overall subscription levels, especially on the final day, as they often indicate institutional interest.

For live subscription updates, GMP changes and important IPO alerts, follow the IPOwiz Telegram channel.

Indo-MIM IPO Lot Size and Investment Amount

Retail investors can apply for a minimum of one lot, while HNI investors must apply according to the lot requirements shown below.

Indo-MIM IPO Important Dates

Below are the key dates for the Indo-MIM IPO, including the allotment, refund and listing schedule.

How to Check Indo-MIM IPO Allotment Status

The Indo-MIM IPO allotment is expected to be finalised on July 28, 2026. You can check your allotment status using any of the following methods.

About Indo-MIM

Founded in 1990 and incorporated in 1996, Indo-MIM Limited is headquartered in Hoskote, Bengaluru. The company is the world's largest Metal Injection Moulding (MIM) manufacturer by installed capacity.

Metal Injection Moulding combines metal powders with polymer binders to manufacture complex, high-precision metal components. The technology is widely used in industries where conventional machining is expensive or less efficient.

Manufacturing Footprint

• 15 manufacturing facilities across India, the US, the UK and Mexico
• More than 6,400 products manufactured in FY25
• Over 1,100 customers across 50 countries
• Sales offices in China, Germany, the US, Israel, Japan, South Korea, Italy and France

Key Industries Served

• Automotive: Fuel injection systems, powertrain and safety components
• Aerospace: Fuel nozzles, valve housings and structural parts
• Medical: Surgical instruments used in endoscopy, laparoscopy and robotic surgery
• Defence: Firearm components, triggers and optical mounts
• Consumer Products: Power tools, smartphone components and luxury accessories

In addition to Metal Injection Moulding, the company also offers investment casting, precision CNC machining, ceramic injection moulding (CIM) and industrial metal 3D printing.

Indo-MIM Financial Performance: FY24 to FY26

Indo-MIM has delivered consistent financial growth over the past three financial years. Revenue, profit and net worth have increased steadily, while debt levels have started declining.

Revenue increased by 28% in FY26 to Rs 4,320.70 crore, while net profit rose nearly 26% to Rs 533.54 crore. The company also reduced its total debt during the year, strengthening its balance sheet ahead of the IPO.

Key Financial Ratios

• ROE / RoNW: 19.94% (FY25) | 21.26% (FY26)
• ROCE: 26.60%
• PAT Margin: 12.72%
• Debt-to-Equity: 0.57x (FY25) | 0.39x (FY26)
• Post-IPO P/E: 44.95x
• Basic EPS (FY26): Rs 10.79

The debt-to-equity ratio improved from 0.57x to 0.39x in one year. Since a major part of the fresh issue will be used to repay debt, the company's leverage is expected to improve further after the IPO.

How Indo-MIM Will Use the IPO Proceeds

The company plans to use the Rs 499.10 crore raised through the fresh issue for the following purposes:

• Debt repayment: Rs 400 crore
• General corporate purposes: Remaining amount after issue-related expenses

The Rs 3,311.21 crore Offer for Sale (OFS) proceeds will go entirely to the selling shareholders, including Green Meadows Investments Ltd. and members of the Chivukula family. These funds will not be received by the company.

Indo-MIM IPO Valuation: Is the Price Band Fair?

At the upper price band of Rs 485, Indo-MIM is valued at a post-IPO P/E of 44.95x, based on its FY26 earnings per share (EPS) of Rs 10.79.

The company has only one comparable listed peer mentioned in the DRHP—Jiangsu Gian Technology Co., Ltd., which is listed on the Shenzhen Stock Exchange in China.

Considering the company's strong growth, healthy profitability and improving balance sheet, the valuation appears reasonable. Since there are no direct listed peers in India, investors should evaluate the IPO based on its financial performance, industry position and long-term growth prospects rather than peer comparisons alone.

Risks Investors Should Consider

Indo-MIM IPO Review: Should You Apply?

IPOwiz View: Subscribe for Medium to Long Term

Indo-MIM is one of the leading manufacturers in the metal injection moulding (MIM) industry with a strong global presence. The company has reported consistent growth in revenue and profit over the last three years while maintaining healthy return ratios and reducing debt.

At the upper price band, the IPO is valued at a P/E of around 44.95x. While the valuation is not cheap, it appears reasonable considering the company's growth, profitability and leadership in a niche business.

The biggest concern is the large Offer for Sale, with nearly 86% of the issue consisting of shares sold by existing shareholders. However, the fresh issue will still help reduce debt by around Rs 400 crore, which should strengthen the company's balance sheet.

Overall, the fundamentals remain strong and the IPO looks suitable for investors with a medium to long-term investment horizon. Investors looking only for listing gains should continue to monitor the latest GMP and subscription trends before making a final decision.

Frequently Asked Questions