We recommend SUBSCRIBE to the IPO considering Indo-MIM's leadership position in the global Metal Injection Molding (MIM) industry, integrated and scalable manufacturing platform, strong technological capabilities, and diversified exposure across aerospace, defence, medical, automotive and industrial end-markets. Indo-MIM is well-positioned to benefit from global supply-chain diversification, increasing outsourcing by multinational OEMs, and the China+1 manufacturing shift, providing a long-term growth runway. At the upper end of the price band, the IPO is valued at 44.4x TTM P/E based on FY26...