How MTech alumnus’ gift turned into Rs 112 crore IPO jackpot for IIT Madras

Indo-MIM, the world's largest metal injection moulding manufacturer with 6.8% global market share, is set to open its Rs 3,812 crore IPO on July 23 with a price band of Rs 461-485, valuing the company at Rs 23,981 crore or 38.4 times FY26 adjusted earnings. The issue includes a Rs 500 crore fresh issue and a Rs 3,312 crore offer for sale, with promoter Green Meadows Investments raising about Rs 2,935 crore and IIT Madras selling about Rs 112 crore worth of gifted shares. The Bengaluru-based company reported FY26 revenue of Rs 4,193 crore (up 26%) and adjusted profit of Rs 612 crore, though 77.2% of revenue comes from overseas markets and customer concentration remains a risk.