Wash the shrimps thoroughly. Keep the head, and tail intact. De-vein the shrimps and set them aside.
Grind together grated coconut, poppy seeds, mustard seeds, ginger, half of the green chili, and ½ teaspoon of salt into a smooth paste using some water.
Transfer the paste to a steel bowl that fits the inner pot of the Instant Pot.
To this, add olive oil, turmeric, and ½ teaspoon of salt. Mix well.
Add the shrimps and mix well.
Add the coconut milk and remaining green chili. Set it aside.
Add 2 cups of water to the inner pot of the Instant Pot.
Place the bowl on a trivet and place the trivet in the Instant Pot.
Secure the IP lid and set the Instant Pot to pressure cook mode on low pressure for 3 minutes.
Do a natural release of pressure for 5 minutes, then do a quick release.
Serve hot with steamed rice.