Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Capital Markets

<ul>
<li>In this insight, we discuss why <a href="https://www.smartkarma.com/entities/indo-mim-ltd" target="_blank" data-smartkarma-citation="entities:45956:1" rel="noopener">Indo-MIM Ltd (1666551D IN)</a> IPO looks dressed up before the IPO.</li>
<li>We highlight various metrics and discussion points to substantiate our view.</li>
<li>Finally, we conclude why the company has more to prove post listing vs its historical past.</li>
</ul>


In this insight, we discuss why Indo-MIM Ltd (1666551D IN) IPO looks dressed up before the IPO.
We highlight various metrics and discussion points to substantiate our view.
Finally, we conclude why the company has more to prove post listing vs its historical past.


Indo-MIM Ltd - Strong Listing, but It’s Dressed Up Before the IPO

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indo-mim-ltd" target="_blank" data-smartkarma-citation="entities:45956:1" rel="noopener">Indo-MIM Ltd (1666551D IN)</a> raised about US$395m in its India IPO. IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding (MIM) technology. </li>
<li>IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding technology. Its capabilities include mold designing and tooling, coupled with finishing and assembly operations.</li>
<li>We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Indo-MIM Ltd (1666551D IN) raised about US$395m in its India IPO. IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding (MIM) technology. 
IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding technology. Its capabilities include mold designing and tooling, coupled with finishing and assembly operations.
We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.


Aequitas: Indo-MIM IPO Trading - Strong Overall Demand

India focused: IPO, special situations, Stylus Holdings

Himanshu Dugar

India focused: IPO, special situations

Stylus Holdings

Stylus Holdings is a buy-side equity research firm. We offer bottom-up investment ideas as well as provide on demand equity research and portfolio tracking. 
At Stylus, our focus is to identify market dislocations that can generate 20+% IRR with a reasonable margin of safety. As part of our research process, we do a deep dive into the fundamentals of the company, evaluate their competitive positioning and assess their valuation.
Our investment team is led by Himanshu Dugar. Himanshu is a Chartered Accountant and a CFA charter holder. He has 10+ years of active experience in the stock market with stints at CRISIL Research, a S&P Global copmany and Miras Investments, a single family office based in Dubai.

Equity Research Firm

<ul>
<li>Indo-MIM Limited is a global leader in Metal Injection Molding (MIM) technology (7% of global market share), providing high-precision components to highly regulated industries including automotive, defense, medical, and aerospace.</li>
<li>Its capabilities include mold designing and tooling, coupled with finishing and assembly operations. The company serves the largest customers in its space across 50+ countries through its global manufacturing base</li>
<li>The IPO aims to raise $400mn at valuation of $3bn (45x FY26 PAT), through a combination of primary and secondary paring balance sheet debt while enabling liquidity for its promoters. </li>
</ul>


Indo-MIM Limited is a global leader in Metal Injection Molding (MIM) technology (7% of global market share), providing high-precision components to highly regulated industries including automotive, defense, medical, and aerospace.
Its capabilities include mold designing and tooling, coupled with finishing and assembly operations. The company serves the largest customers in its space across 50+ countries through its global manufacturing base
The IPO aims to raise $400mn at valuation of $3bn (45x FY26 PAT), through a combination of primary and secondary paring balance sheet debt while enabling liquidity for its promoters. 


Indo-MIM IPO: Exciting Business but Not Much on the Table for IPO Investors

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>INDO-MIM Ltd launched India IPO to raise nearly INR 38.1B. They provide end-to-end solutions for the manufacture of precision engineering components using metal injection molding (MIM) technology.</li>
<li>Company intends to use the proceeds for repayment/ prepayment, in full or part, of all or certain outstanding borrowings and for working capital purpose.</li>
<li>Diversified product portfolio, strong customer base, technological prowess and geographical reach make the INDO-MIM offering attractive.</li>
</ul>


INDO-MIM Ltd launched India IPO to raise nearly INR 38.1B. They provide end-to-end solutions for the manufacture of precision engineering components using metal injection molding (MIM) technology.
Company intends to use the proceeds for repayment/ prepayment, in full or part, of all or certain outstanding borrowings and for working capital purpose.
Diversified product portfolio, strong customer base, technological prowess and geographical reach make the INDO-MIM offering attractive.


INDO-MIM Ltd IPO: Product Portfolio, Customer Base, Market Reach Moulds It Right For Investors

<ul>
<li>In this insight we discuss about the broad structure of <a href="https://www.smartkarma.com/entities/indo-mim-ltd" target="_blank" data-smartkarma-citation="entities:45956:1" rel="noopener">Indo-MIM Ltd (1666551D IN)</a> IPO.</li>
<li>We discuss about the profile of company, segmental details and financial overview.</li>
<li>Finally, we discuss about the valuation and our view on the IPO</li>
</ul>


In this insight we discuss about the broad structure of Indo-MIM Ltd (1666551D IN) IPO.
We discuss about the profile of company, segmental details and financial overview.
Finally, we discuss about the valuation and our view on the IPO


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Indo-MIM Ltd (1666551D IN)

Indo-MIM Ltd - Strong Listing, but It’s Dressed Up Before the IPO

Insight on why Indo-MIM Ltd IPO appears embellished, with metrics supporting the view that the company has more to prove post listing.

Sreemant Dudhoria

Aequitas: Indo-MIM IPO Trading - Strong Overall Demand

Indo-MIM Ltd (IML) raised about US$395m in its India IPO. In this note, we talk about the demand and the trading dynamics.

Akshat Shah

Indo-MIM IPO: Exciting Business but Not Much on the Table for IPO Investors

Indo-MIM Limited, a global leader in Metal Injection Molding technology, plans to raise $400mn through an IPO to fuel growth and provide liquidity...

Himanshu Dugar

INDO-MIM Ltd IPO: Product Portfolio, Customer Base, Market Reach Moulds It Right For Investors

INDO-MIM Ltd launches India IPO to raise INR 38.1B for repayment of borrowings and working capital, showcasing leadership position, diverse...

Tina Banerjee

Indo-MIM IPO - First Cut

Insight on Indo-MIM Ltd IPO: Company profile, segmental details, financial overview, valuation, and our view on the IPO.

Sreemant Dudhoria

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Indo-MIM Ltd - Strong Listing, but It’s Dressed Up Before the IPO

​Insight on why Indo-MIM Ltd IPO appears embellished, with metrics supporting the view that the company has more to prove post listing.

Sreemant Dudhoria

Aequitas: Indo-MIM IPO Trading - Strong Overall Demand

Indo-MIM Ltd (IML) raised about US$395m in its India IPO. In this note, we talk about the demand and the trading dynamics.

Akshat Shah

Indo-MIM IPO: Exciting Business but Not Much on the Table for IPO Investors

​Indo-MIM Limited, a global leader in Metal Injection Molding technology, plans to raise $400mn through an IPO to fuel growth and provide liquidity...

Himanshu Dugar

INDO-MIM Ltd IPO: Product Portfolio, Customer Base, Market Reach Moulds It Right For Investors

​INDO-MIM Ltd launches India IPO to raise INR 38.1B for repayment of borrowings and working capital, showcasing leadership position, diverse...

Tina Banerjee

Indo-MIM IPO - First Cut

​Insight on Indo-MIM Ltd IPO: Company profile, segmental details, financial overview, valuation, and our view on the IPO.

Sreemant Dudhoria

Insight on why Indo-MIM Ltd IPO appears embellished, with metrics supporting the view that the company has more to prove post listing.

Indo-MIM Limited, a global leader in Metal Injection Molding technology, plans to raise $400mn through an IPO to fuel growth and provide liquidity...

INDO-MIM Ltd launches India IPO to raise INR 38.1B for repayment of borrowings and working capital, showcasing leadership position, diverse...

Insight on Indo-MIM Ltd IPO: Company profile, segmental details, financial overview, valuation, and our view on the IPO.