Indo-MIM IPO Day 2: The initial public offering (IPO) of Indo-MIM Ltd was subscribed 3.07 times on Friday, July 24, 2026, driven by strong demand from non-institutional investors (NIIs), according to NSE data.
The IPO will remain open for subscription until Monday, July 27.
Indo-MIM IPO subscription status on Day 2
The IPO received bids for 16,92,94,290 shares against 5,50,93,201 shares on offer, translating into an overall subscription of 3.07 times.
The retail individual investor (RII) category was subscribed 1.89 times, with bids for 5,19,74,250 shares against 2,74,46,600 shares reserved.
The non-institutional investor (NII) portion was subscribed 8.44 times after receiving bids for 9,93,08,400 shares against 1,17,62,829 shares on offer.
The qualified institutional buyers (QIB) category was subscribed 1.11 times, with bids for 1,74,06,720 shares against 1,56,83,772 shares reserved.
The employee quota was subscribed 3.02 times.
Indo-MIM IPO details
The IPO is a book-built issue worth Rs 3,811.21 crore. It comprises a fresh issue of 1.03 crore equity shares worth Rs 499.10 crore and an offer for sale (OFS) of 6.83 crore shares worth Rs 3,311.21 crore by existing shareholders.
The company has fixed the price band at Rs 461-485 per share. Retail investors can apply for a minimum of 30 shares, requiring an investment of Rs 14,550 at the upper end of the price band.
Under the issue structure, up to 50 per cent of the net offer is reserved for qualified institutional buyers, at least 35 per cent for retail investors and at least 15 per cent for non-institutional investors.
Use of IPO proceeds
Indo-MIM plans to use Rs 400 crore from the fresh issue to repay or prepay certain outstanding borrowings. The remaining proceeds will be used for general corporate purposes.
Indo-MIM financial performance
According to the company’s Red Herring Prospectus (RHP), total income rose 28 per cent to Rs 4,320.70 crore in FY26 from Rs 3,373.97 crore in FY25.
Profit after tax (PAT) increased 26 per cent to Rs 533.54 crore from Rs 423.73 crore a year earlier. EBITDA grew to Rs 1,070.92 crore from Rs 932.60 crore, while net worth increased to Rs 2,819.55 crore.
The company also reduced its total borrowings to Rs 1,090.49 crore from Rs 1,247.20 crore, indicating an improvement in its balance sheet.
Key IPO dates
The Indo-MIM IPO opened on July 23 and will close on July 27, 2026. The basis of allotment is expected to be finalised on July 28, while the shares are likely to be listed on the BSE and NSE on July 30, 2026.
HDFC Bank Ltd is the book-running lead manager to the issue, while MUFG Intime India Pvt Ltd is the registrar.
| Particulars | Details |
| Issue size | Rs 3,811.21 crore |
| Fresh issue | 1.03 crore equity shares worth Rs 499.10 crore |
| Offer for Sale (OFS) | 6.83 crore equity shares worth Rs 3,311.21 crore |
| Price band | Rs 461-485 per share |
| Lot size | 30 shares |
| Minimum investment (Retail) | Rs 14,550 (30 shares at the upper price band) |
| Issue type | Book-built issue |
| IPO opens | July 23, 2026 |
| IPO closes | July 27, 2026 |
| Expected allotment | July 28, 2026 |
| Expected listing | July 30, 2026 (BSE, NSE) |
| Book Running Lead Manager | HDFC Bank Ltd |
| Registrar | MUFG Intime India Pvt. Ltd. |
What does Indo-MIM do?
Indo-MIM Ltd. was established in 1996. It produces precision engineering components by Metal Injection Moulding (MIM) technology.
The company provides complete manufacturing solutions. These include mould design, tooling, finishing and assembly. It supplies precision components to customers across different industries.