Indo MIM IPO Opens July 23: Price Band, GMP, Allotment Date and Key Details

Indo MIM IPO opens for subscription on July 23, 2026, and closes on July 27, 2026. The price band is set at ₹461 to ₹485 per share. The mainboard issue aims to raise ₹3,811.21 crore through a fresh issue and an offer for sale. Indo MIM’s grey market premium stood at ₹200 as of July 20, signaling strong early investor interest ahead of listing.

Indo MIM IPO Structure and Key Dates

Specifically, Indo-MIM’s public issue combines a fresh issue of ₹499.10 crore with an offer for sale of 6,82,91,022 equity shares. As a result, that structure sets the total issue size near ₹3,811 crore.

• Subscription opens July 23, 2026 and closes July 27, 2026.
• Allotment finalization is scheduled for July 28, 2026.
• Listing is tentatively set for July 30, 2026, on both NSE and BSE.

HDFC Bank Ltd. (NYSE: HDB) and SBI Capital Markets are managing the book-running process. MUFG Intime India Pvt. Ltd. serves as the official registrar for the issue.

Price Band and Minimum Investment Details

Indo MIM has fixed its price band between ₹461 and ₹485 per equity share. The lot size for retail applications is set at 30 shares.

• Minimum retail investment stands at ₹14,550 based on the upper price band.
• Small NII investors need 14 lots, or 420 shares, worth ₹2,03,700.
• Big NII investors require 69 lots, or 2,070 shares, worth ₹10,03,950.

Retail investors get 35% of the issue, QIBs get 50%, and NIIs receive the remaining 15%.

Grey Market Premium Signals Strong Demand

Indo MIM’s grey market premium touched ₹200 per share on July 20, 2026, at 12:35 PM IST. That marks a 41.24% premium over the ₹485 upper price band.

• The indicative listing price based on current GMP works out to ₹685 per share.
• GMP rose ₹5 from its previous recorded level of ₹195.
• Historical GMP for this issue has ranged between ₹45 and ₹205.

Grey market premiums remain unofficial and can shift quickly before the actual listing date arrives.

What Indo MIM Actually Does

Indo MIM, incorporated in 1996, is a global leader in Metal Injection Molding technology. The company also offers investment casting, precision machining, and 3D metal printing services.

• Its client base spans automotive, defence, medical, consumer, and aerospace industries.
• Indo MIM has no directly comparable listed peer within India’s stock market.
• Its closest global peer, Jiangsu Gian Technology, trades on the Shenzhen Stock Exchange.

This diversified industry exposure reduces the company’s dependence on any single end-market segment.

Financial Performance Ahead of the IPO

Indo MIM has posted strong growth heading into its public listing. Revenue rose to ₹4,320.70 crore in FY26, up from ₹3,373.97 crore in FY25.

• Profit after tax climbed to ₹533.54 crore in FY26, a roughly 26% jump.
• The debt-to-equity ratio improved to 0.39, down from 0.57 a year earlier.
• Return on net worth stands at 21.26%, based on current valuation metrics.

At the upper price band, Indo MIM carries a P/E ratio of 44.95 and a market cap near ₹23,981 crore.

Indo-MIM Limited IPO

Date : 23-27 July

Price Band : 461-485
Lot Size : 30

Size : 3,811.2 Crore
Fresh – 500 Crore
OFS – 3,312.1 Crore

Retail : 35%
Employee Quota : 8.8 Cr (45 Rs Discount)

M.Cap : 23,981.4 Crore

FY26 PE : 45×

The Company has no identifiable Peers in… https://t.co/77JCElL6f6

— Tanmay 🇮🇳 (@Tanmay_31_) July 19, 2026

Where the Proceeds Are Headed

Indo MIM plans to use a meaningful chunk of its fresh issue proceeds for debt reduction. Roughly ₹400 crore is earmarked for repaying existing borrowings.

• The remaining proceeds will support general corporate purposes and working capital needs.
• Improving the balance sheet ahead of listing strengthens the company’s post-IPO financial position.

This debt-focused use of funds aligns with the company’s already improving debt-to-equity trend.

Final Take

To begin with, Indo MIM enters India’s primary market with a rare combination: global manufacturing scale, diversified sector exposure, and no direct domestic listed peer for comparison. In fact, its FY26 revenue growth of roughly 28% and profit growth near 26% reflect genuine operational momentum, rather than just IPO-timing optics.

Meanwhile, a ₹200 grey market premium while unofficial suggests that investors are already pricing in continued execution strength. Ultimately, with subscription opening July 23 and listing tentatively set for July 30, the coming week will show whether institutional demand matches this early grey market enthusiasm.

Disclaimer:

The content shared by Meyka AI PTY LTD is for research and informational purposes only. Meyka is not a financial advisory service, and the information provided should not be treated as investment or trading advice.