The initial public offering (IPO) of Indo-MIM Ltd. received a steady response from investors on the first day of bidding.
As of 2:48 PM on July 23, the IPO was subscribed 0.65 times, according to data available on the NSE.
The public issue opened on July 23 and will remain open for subscription until July 27, 2026.
While the Non-Institutional Investor (NII) category saw strong demand, the Qualified Institutional Buyer (QIB) segment remained largely unsubscribed during the first day.
Indo-MIM IPO Subscription Status on Day 1
By 2:48 PM, the company had received bids for 3.60 crore shares against 5.51 crore shares available in the public issue.
Here’s how each investor category performed:
Retail Individual Investors (RII): Subscribed 0.58 times, with bids for 1.60 crore shares against 2.74 crore shares reserved.
Non-Institutional Investors (NII): Fully subscribed at 1.68 times, receiving bids for 1.97 crore shares against 1.17 crore shares on offer.
Qualified Institutional Buyers (QIB): Received bids for only 18,720 shares against 1.56 crore shares reserved.
Employee Quota: Subscribed 1.03 times.
IPO Size, Price Band and Investment Details
Indo-MIM’s IPO is a book-built issue worth ₹3,811.21 crore.
The issue includes:
Fresh issue: 1.03 crore equity shares worth ₹499.10 crore.
Offer for Sale (OFS): 6.83 crore shares worth ₹3,311.21 crore by existing shareholders.
The company has fixed the price band at ₹461 to ₹485 per share.
Retail investors need to apply for a minimum of 30 shares, which requires an investment of ₹14,550 at the upper end of the price band.
How Will the IPO Money Be Used?
Indo-MIM plans to use ₹400 crore from the fresh issue to repay or prepay certain outstanding borrowings.
The remaining funds will be used for general corporate purposes, helping support the company’s future growth and business operations.
Strong Financial Growth Before the IPO
According to the company’s Red Herring Prospectus (RHP), Indo-MIM delivered strong financial performance during FY26.
Total income increased 28% to ₹4,320.70 crore, compared to ₹3,373.97 crore in FY25.
Profit after tax (PAT) rose 26% to ₹533.54 crore from ₹423.73 crore.
EBITDA improved to ₹1,070.92 crore from ₹932.60 crore.
Net worth increased to ₹2,819.55 crore.
Total borrowings declined to ₹1,090.49 crore, compared to ₹1,247.20 crore a year earlier.
The reduction in debt and growth in earnings indicate an improvement in the company’s financial position.
Important IPO Dates
Investors planning to apply should keep these key dates in mind:
IPO Opens: July 23, 2026
IPO Closes: July 27, 2026
Expected Allotment: July 28, 2026
Expected Listing: July 30, 2026, on the NSE and BSE
HDFC Bank Ltd. is the Book Running Lead Manager (BRLM) for the issue, while MUFG Intime India Pvt. Ltd. is acting as the registrar.
What Does Indo-MIM Do?
Founded in 1996, Indo-MIM Ltd. manufactures precision engineering components using Metal Injection Moulding (MIM) technology.
The company offers complete manufacturing solutions, including mould design, tooling, finishing and assembly.
Its products are supplied to customers across a wide range of industries, making it one of the leading players in the precision engineering sector.
With solid financial growth and strong interest from non-institutional investors on the first day, the Indo-MIM IPO will now be closely watched over the remaining subscription period.
