INDO-MIM Limited has raised ₹3,812.12 crore from an initial public offering of equity shares comprising a fresh issue of equity shares and an offer by the selling shareholders. Three law firms — Trilegal, Khaitan & Co, and Hogan Lovells Cadwalader — served as the INDO-MIM IPO legal advisors on this landmark transaction. The IPO ran from 23 July 2026 to 27 July 2026, with shares listed on both NSE and BSE on 30 July 2026.
Introduction
INDO-MIM Limited raised ₹3,812.12 crore through an IPO structured as a combination of a fresh issue of equity shares and an offer for sale by the selling shareholders. The book-built issue comprised a fresh issue of approximately 1.03 crore shares aggregating to ₹500.78 crore and an offer for sale of 6.83 crore shares aggregating to ₹3,311.33 crore. The book running lead managers (BRLMs) were HDFC Bank Ltd., Axis Capital Ltd., ICICI Securities Ltd., Kotak Mahindra Capital Co. Ltd., and SBI Capital Markets Ltd.
INDO-MIM Limited is the largest manufacturer globally of precision engineering components using metal injection molding (“MIM”) technology, with a market share of 7% in terms of revenue from MIM in Fiscal 2025, and its product portfolio caters to automotive, defence, medical, consumer, and aerospace sectors.
Deal Value
The INDO-MIM IPO is a main-board IPO of 7,86,18,857 equity shares of face value ₹1 each, aggregating up to ₹3,812 crore, priced at ₹485 per share. The company raised ₹1,140.99 crore from anchor investors, with the anchor bid date falling on 22 July 2026.
Legal Teams Involved
Three legal teams advised on this transaction across domestic and international mandates. For a broader view of significant Indian legal market mandates, see the Deal Meter.
Trilegal — Counsel to INDO-MIM Limited
Trilegal advised INDO-MIM on this IPO. The transaction team was led by Vinay Sirohia (Partner), with support from Pragya Gupta (Senior Associate), Prajna Kariappa K. (Senior Associate), and Associates Sanath Rajesh and Esha Alex.
Khaitan & Co — Counsel to the Book Running Lead Managers
Khaitan & Co advised the book running lead managers — HDFC Bank Limited, Axis Capital Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets — on this IPO. The transaction team consisted of Thomas George (Partner), Prathiksha Panduranga (Counsel), Tharun Vadlapatla (Senior Associate), Pooja Agarwal (Senior Associate), Varun Nair (Associate), and Anveeksha Anand (Associate).
Hogan Lovells Cadwalader — International Counsel to the BRLMs
Hogan Lovells Cadwalader served as the international legal counsel to the BRLMs. The transaction was led by Biswajit Chatterjee (Head of the India Practice and Dubai Office Managing Partner), with support from Kaustubh George (Counsel) and Adita Rajput (Senior Associate). US-based Partners Nancy O’Neil and Parikshit Dasgupta advised on US Tax and US Investment Funds issues respectively.
Significance and Impact
The INDO-MIM IPO is significant on multiple counts. INDO-MIM holds a 7% market share in global MIM revenue as of Fiscal 2025, making it the world’s largest precision engineering components manufacturer by this technology. The transaction brought together both domestic and international legal expertise, with Hogan Lovells Cadwalader‘s involvement reflecting the cross-border dimensions of the offering, particularly with respect to US tax and investment fund considerations.
The structure — combining a fresh issue of ₹500.78 crore alongside an offer for sale of ₹3,311.33 crore — indicates a substantial secondary exit by existing shareholders while also raising primary capital for the company. INDO-MIM’s diversified product portfolio spanning automotive, defence, medical, consumer, and aerospace sectors positions the company to benefit from growth across multiple high-demand industries, underscoring the strategic rationale behind the public listing.
The ₹3,812.12 crore INDO-MIM IPO stands as a noteworthy capital markets transaction, with Trilegal, Khaitan & Co, and Hogan Lovells Cadwalader collectively deploying domestic and international legal counsel across the issuer and the underwriting syndicate. Shares listed on both NSE and BSE on 30 July 2026, marking the successful conclusion of a multi-firm advisory mandate for one of India’s most globally prominent precision engineering companies.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
