IIT Madras likely to fetch ₹70 crore via stake sale in Indo-MIM IPO, to invest in innovation

The Indian Institute of Technology, Madras (IIT Madras) will monetise around half of its total holding worth ₹140 crore from the forthcoming Initial Public Offering (IPO) of Indo MIM Ltd., a company which provide end-to-end solutions for the manufacture of precision engineering components for automotive, aerospace, defence, and consumer product companies using metal injection moulding (MIM) technology.

Indo MIM Ltd. promoter Krishna Chivukula, who studied in IIT Madras has gifted 1% stake of his company to IIT Madras acknowledging its contribution in shaping the company’s current positioning as the largest manufacturer globally of precision engineering components using MIM technology.

IIT Madras is proposing to sell up to 23,07,700 equity shares of face value of ₹1 each out of its total holding of 46,15,385 equity shares, which account for around 1% of the total equity capital of Indo MIM Ltd.

The value of IIT Madras’ holding is estimated at more than ₹140 crore at the expected valuation, as per market and investment banking officials.

If all IIT alumnus turned entrepreneurs offer sweat equity to IITs in India, then they will set a good example of helping their alma mater to monetize holding which could be invested in innovation labs and start-ups, analysts said.

Generally, only existing investors (private equity players, venture capitals and promoters) get money from offer for sales (OFS), but allowing IITs to monetize through IPOs would be in national interest, they said.

In September 2024, Dr. Chivukula made one of the largest donations of ₹228 crore to IIT Madras to be used to give fellowships to top B. Tech students, eminent sportspersons, foreign students, faculty members who do high-risk research, and to bring out a magazine, the institution had said in a press release earlier.

In a related development, the Indian Institute of Technology (IIT) Bombay’s Society for Innovation and Entrepreneurship (SINE) is set to sell 4,08,000 equity shares amounting to around ₹55 crore in the forthcoming IPO of Sedemac Mechatronics Ltd. which is scheduled to open on 4 March, 2026.

Founded in a lab at the IIT Bombay, in 2007, since its inception, Prof. Shashikanth Suryanarayanan, Amit Arun Dixit, Manish Sharma, and Anaykumar Avinash Joshi have built on their technical expertise to place Sedemac amongst the top players in the Integrated Starter Generator Engine Control Unit (ISG ECU) market for 2W and 3W (combined) and the largest supplier of genset controllers in India.

In 2008, the promoters (alumnus of IIT) gave 7% of their company’s equity to IIT Bombay’s Society for Innovation and Entrepreneurship (SINE), which supports tech startups with incubation, mentorship, funding, and resources to turn innovative ideas into successful ventures.