Other Deals
IIT Madras to reap Rs.112-Cr from sale of 50% stake in Indo-MIM via IPO
The Indian Institute of Technology Madras (IIT Madras) is set to raise about INR 112-Cr by selling 50% of its stake in the upcoming initial public offering (IPO) of Indo-MIM . The transaction involves the sale of 23.08 lakh shares gifted to the institute by the company’s founder.Founded in 1996 by Krishna Chivukula, Indo-MIM is a global manufacturer of precision engineering components. The company specializes in metal injection moulding (MIM) technology and provides end-to-end solutions, including mould design, tooling, manufacturing, finishing, and assembly.Indo-MIM plans to raise a total of INR 3,812-Cr through the IPO, which consists of a fresh issue of shares worth INR 500-Cr and an offer for sale (OFS) of INR 3,312-Cr. The company intends to use INR 400-Cr of the fresh issue proceeds for debt repayment. Other selling shareholders in the OFS include Green Meadows Investments and Anuradha Koduri. In FY26, the company reported a net profit of INR 533-Cr on revenue of INR 4,193-Cr.
For FY25, Indo-MIM had reported about INR 3,330-Cr in Operating Income and about INR 424-Cr in PAT.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
