BlackRock, Prashant Jain-backed 3P India among others invest in Indo MIM IPO anchor book of Rs 1,141 crore

Indo MIM, the world's largest manufacturer of precision engineering components using metal injection moulding (MIM) technology, has raised Rs 1,141 crore from anchor investors, including BlackRock and Prashant Jain-backed 3P India, ahead of its Rs 3,811 crore IPO, which is now open for public subscription.

The company has fixed a price band of Rs 461-485 per share for its IPO, which will close on July 27.

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Some of the other key anchor investors who were allocated shares include Government Pension Fund Global, Amansa Holdings, Goldman Sachs, Natixis International Fund, Societe Generale, ICICI Prudential AMC, HDFC MF, SBI Mutual Fund, Kotak Mahindra AMC, Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, HSBC Mutual Fund, Quant Mutual Fund, LIC Mutual Fund, Invesco, Mirae Asset, ICICI Prudential Life Insurance, SBI Life Insurance, HDFC Life Insurance and more.

Out of 2.35 crore equity shares allotted to the anchor investors, 1.31 crore equity shares (i.e. 55.98% of the total allocation to anchor investors) were allocated to 23 domestic mutual funds applying through 60 schemes.

Anand Rathi Research, in its IPO note, has recommended its investors to subscribe from a medium- to long-term investment perspective to the Indo MIM issue, considering its global market leadership, diversified end-user exposure, integrated manufacturing capabilities, and strong export franchise; the valuation of nearly 45.0x P/E on FY26 earnings appears reasonable.

The issue is being managed by HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital Company and SBI Capital Markets as the book-running lead managers. MUFG Intime India Pvt. Ltd. is serving as the registrar to the issue.

The company intends to utilise Rs 400 crore from the net proceeds of the fresh issue towards the repayment or prepayment, in full or in part, of certain outstanding borrowings. The remaining funds will be used for general corporate purposes.

The company offers end-to-end manufacturing solutions, covering mould design, tooling, machining, finishing and assembly.

In addition to MIM, Indo-MIM has expanded its capabilities through advanced manufacturing technologies such as investment casting, precision machining, ceramic injection moulding and 3D metal printing, enabling it to serve a diverse range of industries.

During FY26, the company manufactured more than 6,400 products for sectors including automotive, defence, medical devices, consumer goods and aerospace.

Indo-MIM operates 15 manufacturing facilities across India, the United States, the United Kingdom and Mexico. According to the F&S Report, it has the world's largest installed MIM capacity.

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The company's global footprint also includes sales offices in China, Germany and the US, supported by sales representatives across Europe and Asia. In FY26, Indo-MIM served more than 1,100 customers worldwide.

In FY26, the company delivered a robust financial performance backed by healthy growth in revenue and earnings. Total income rose 28.1% year-on-year to Rs 4,320.70 crore from Rs 3,373.97 crore in FY25. Profit after tax (PAT) increased 25.9% to Rs 533.54 crore in FY26 from Rs 423.73 crore in the previous year.

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