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Dolat Capital Report
Indo-MIM Day 1 Subscription Status: The IPO was booked 1.13 times on Thursday, with investors bidding for 6,22,65,960 shares against the 5,50,93,201 shares on offer.
Here are the 10 key things to know before investing
1. Important Dates
INDO-MIM shares launched its initial public offering on July 23 and the offer closes for subscription on July 27. The shares will be listed on both the National Stock Exchange and the BSE on July 30.
2. Price Band.
Bangalore based, metal injection moulding company has fixed the price band in the range of Rs 461-485 per share. The minimum bid size for retail investors is 30 shares, requiring an investment of Rs 14,550 at the upper end of the price band.
3. IPO Size
The Rs 3,810.31-crore IPO comprises of fresh issue of 1.03 crore equity shares worth Rs 499.10 crore and Offer for Sale (OFS) of 6.83 crore equity shares worth Rs 3,311.21 crore.
4. BRLM
HDFC Bank Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar to the issue.
5. Use of Proceeds
The company plans to utilize Rs 400 crore from the fresh issue towards debt repayment/prepayment.
6. About the company
Bengaluru-based INDO-MIM is the world's largest Metal Injection Moulding (MIM) company by revenue, with around 6.8% global market share. The company operates 15 manufacturing facilities across India, the US, the UK and Mexico.
7. Business Segments
INDO-MIM caters to five key sectors:
Automotive
Defence
Medical
Consumer
Aerospace.
8. Key Geographies
- North America remains the largest market, contributing 44% of FY26 revenue.
- India contributed 23%, while Europe accounted for about 20%.
- Exports represented 77% of FY26 revenue.
9. Financial Performance
Revenue grew to Rs 4,193 crore in FY26 from Rs 2,870 crore in FY24.
Net profit increased to Rs 533.5 crore in FY26 from Rs 283.7 crore in FY24.
10. Key Takeaways from IPO Meet
World's largest MIM player with a diversified technology base
Nearly three-decade operating history with a backward-integration heritage
High barriers to entry protect the company's market position
Proprietary feedstock formulation creates durable switching costs
Backward-integrated, dual-shore manufacturing footprint:
Facility fungibility enables flexible capacity allocation
Vertically integrated finishing and materials capability deepens the moat
Heavy automation and IoT deployment support quality and productivity
Early mover in metal 3D printing adds a technology edge.
Revenue is diversified across five business segments.
Automotive and Defence are the largest revenue contributors and have grown
fastest.
Export-driven business with broad global distribution.
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