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

Indian Institute of Technology, Madras (IIT Madras) will monetise nearly half of its total holdings worth Rs 140 crore from the upcoming Initial Public Offering (IPO) of Indo MIM Ltd., a company that provides end-to-end solutions for manufacturing of precision engineered components for automotive, aerospace, defense and consumer products companies using metal injection molding (MIM) technology.

Trained at IIT Madras, Indo MIM Ltd. promoter Krishna Chivukula gifted 1% shares of his company to IIT Madras, acknowledging the company’s contribution in shaping its current position as the world’s largest manufacturer of precision engineering components using MIM technology.

IIT Madras proposes to sell 23,07,700 equity shares of ₹ 1 each out of a total of 46,15,385 equity shares of Indo MIM Ltd., constituting approximately 1% of the total equity capital.

According to market and investment banking officials, the value of the IIT Madras holding is estimated at more than ₹ 140 crore at the expected valuation.

Analysts said if all IIT graduate entrepreneurs offer sweat equity to IITs in India, then they will set a good example of helping their alma maters make money from conglomerates that can be invested in innovation labs and start-ups.

Generally, only existing investors (private equity players, venture capital firms and promoters) get money from offers for sale (OFS), but they said it would be in the national interest to allow IITs to raise money through IPOs.

In a previous press release of the institution, in September 2024, Dr. It was stated that Chivukula made one of the largest donations of ₹ 228 crore to IIT Madras to be used to provide scholarships to top B. Tech students, elite athletes, foreign students, faculty members doing high-risk research and to launch a magazine.

In a related development, the Society for Innovation and Entrepreneurship (SINE) of the Indian Institute of Technology (IIT) Bombay will sell 4,08,000 equity shares worth approximately Rs 55 crore in the IPO of Sedemac Mechatronics Ltd., scheduled to open on March 4, 2026.

Founded in 2007 in a laboratory at IIT Bombay, Prof. Shashikanth Suryanarayanan, Amit Arun Dixit, Manish Sharma and Anaykumar Avinash Joshi have leveraged their technical expertise to position Sedemac among the top players in the Integrated Starter Generator Engine Control Unit (ISG ECU) market for 2W and 3W (combined) and among the largest supplier of generator set controllers in India.

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