Indo-MIM IPO: Investors are impressed, subscribed more than 4 times on the last day; Know how much the latest GMP reached

Indo-MIM IPO Subscription: The Initial Public Offering (IPO) of precision engineering manufacturing company Indo-MIM is maintaining its strong hold even on the third and last day of bidding. According to National Stock Exchange (NSE) data, as of 10:09 am on July 27, the issue was subscribed more than 4 times. The public issue received bids for 23,02,82,130 shares as against 5,50,93,201 shares on offer, i.e. 4.18 times subscription.

Non-Institutional Investors (NIIs) category received the highest subscription of 12.80 times, while Retail Individual Investors (RIIs) received around 2.24 times subscription. The company has fixed the price band of Rs 461-486 per share for the offering.

Fresh issue of Rs 500 crore in company’s IPO

The company’s IPO comprises a fresh issue of Rs 500 crore and an offer for sale (OFS) of Rs 3,311.21 crore by existing shareholders and promoters including Green Meadows Investments, Anuradha Koduri and Indian Institute of Technology Madras. The lot size is 30 equity shares, for which retail investors will have to bid for at least Rs 14,550 at the upper price band.

Indo-MIM shares are at a considerable premium in the gray market. According to data from InvestorGain and IPO Watch, for Indo-MIM shares on July 27 gray market premium (GMP) was at Rs 190 per share, showing a premium of 39.18 per cent over the upper end of the price band. This suggests that the listing price is expected to be around Rs 675 per share.

Anchor Book’s company got Rs 1,141 crore

Investors should note that gray market premiums are unofficial and based on market speculation. Those listings do not guarantee profits or reflect the company’s fundamentals. The company raised Rs 1,141 crore through its anchor book on July 22. A total of 92 anchor investors participated, buying 2.35 crore equity shares at the upper end of the price band of Rs 485.

ICICI Prudential AMC, HDFC MF, SBI Mutual Fund And domestic mutual funds like Kotak Mahindra AMC as well as global names like Goldman Sachs, BlackRock Global Funds and Societe Generale participated in the anchor book.

Why is the company raising money through IPO?

The company plans to use Rs 400 crore of the net fresh income to repay outstanding borrowings, while the rest will be used for general corporate purposes. As of May 2026, the company’s consolidated outstanding borrowings stood at Rs 1,212.3 crore.

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What does the company do?

Started in 1996, Indo-MIM manufactures precision engineering components using Metal Injection Molding (MIM) technology. Its product portfolio includes engineered components for the automotive, defence, medical, consumer and aerospace sectors. The firm provides comprehensive solutions including mold design, tooling, finishing and assembly. The company operates 15 manufacturing facilities around the world. Six in India, six in the US, two in Mexico and one in Mexico—and manufactured more than 9,000 types of products in FY26.