By Dwaipayan Roy
Copyright newsbytesapp
Indo MIM, a Bengaluru-based manufacturer of precision components, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company plans to raise ₹1,000 crore through an initial public offering (IPO) comprising a fresh issue of equity shares. Alongside this, there is also an offer for sale (OFS) of 12.97 crore equity shares by shareholders. The shareholders participating in the OFS include Green Meadows Investments Ltd, Anuradha Koduri, John Anthony Dexheimer, and the Indian Institute of Technology Madras. The company is also considering a pre-IPO placement of equity shares worth up to ₹200 crore. If this placement is completed, the amount raised will be deducted from the fresh issue accordingly. Indo MIM plans to use ₹720 crore of the IPO proceeds for debt repayment, with the rest going toward general corporate purposes. The company was established in 1996 and specializes in manufacturing precision engineering components using metal injection molding (MIM) technology. It also uses investment casting, precision machining, ceramic injection molding, and metal 3D printing to cater to customers across various sectors such as automotive and aerospace. In FY25, Indo MIM posted a revenue from operations of ₹3,329 crore, and a profit after tax of ₹423 crore. The company does not have any listed peers in India but has one globally, Jiangsu Gian Technology Co Ltd, which is listed on the Shenzhen Stock Exchange in China. HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital, and SBI Capital Markets are the book-running lead managers for this issue.
