INDO SMC IPO
GMP, Subscription, Price, Dates & Financial Details
Electric Equipment
INDO SMC Ltd is engaged in the design and manufacture of a diversified range of products catering to the electrical, industrial, and infrastructure sectors.The company specializes in the design and manufacturing of enclosure boxes for energy meters, High Tension Current Transformers (HTCT), High…
Open Date
Tue, 13 Jan 2026
Close Date
Fri, 16 Jan 2026
Price Band
₹ 141 – 149
Lot Size
1000
Issue Size
₹ 92.00 Cr
Minimum Investment
₹ 298,000 (2000 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
INDO SMC IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹92 Crore.
The INDO SMC IPO remained open for subscription from January 13, 2026, to January 16, 2026. The basis of allotment was finalized on January 19, 2026, and the company's shares were listed on BSE SME Platform on January 21, 2026.
The company had fixed the price band at ₹141 to ₹149 per share, with a lot size of 1000 shares. Retail investors were required to make a minimum investment of ₹298,000 (based on the upper price band) to apply for one lot.
KFin Technologies Limited served as the registrar to the issue. GYR Capital Advisors Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, INDO SMC Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
INDO SMC IPO Timeline (Tentative)
- IPO Open Date
- Tue, 13 Jan 26
- IPO Close Date
- Fri, 16 Jan 26
- Basis of Allotment
- Mon, 19 Jan 26
- Initiation of Refunds
- Tue, 20 Jan 26
- Credit of Shares to Demat
- Tue, 20 Jan 26
- Listing Date
- Wed, 21 Jan 26 — NSE & BSE
Open Date
13 January 2026
Close Date
16 January 2026
Basis Of Allotment
19 January 2026
Listing Date
21 January 2026
IPO Subscription
Check Live Subscription →The INDO SMC IPO has received bids for 45,39,93,000 shares against 41,06,000 shares offered, resulting in an overall subscription of 110.57x. the NII category is subscribed 164.94x, Retail Investors 96.13x, and QIBs 94.94x.
QIB
94.94x
NII
164.94x
RII
96.13x
Total
110.57x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 20,52,000 shares, representing 49.98% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 11,72,000 shares (28.54%), while Non-Institutional Investors (NIIs) receive 8,82,000 shares (21.48%).
| Category | Shares Offered | Shares Offered |
|---|---|---|
| Qualified Institutions | 1,172,000 | 28.54% |
| Non-Institutional | 882,000 | 21.48% |
| BNII | 588,000 | 14.32% |
| SNII | 294,000 | 7.16% |
| Retail Investors | 2,052,000 | 49.98% |
| Total | 4,106,000 | 100% |
Financials Details(₹ in Crores)
| Particular | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 147.67 | 99.94 | 36.32 | 13.85 |
| Revenue | 112.62 | 138.78 | 28.06 | 7.3 |
| Profit After Tax | 11.46 | 15.44 | 3 | 0.46 |
| Net Worth | 47.14 | 35.69 | 5.79 | 1.17 |
| Reserve & Surplus | 30.46 | 19 | 5.06 | 0.52 |
| Total Borrowings | 49.35 | 35.76 | 17.7 | 10.43 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
INDO SMC Limited KPI Information
| Particular | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 27.66 | 74.45 | 86.24 | 48.24 |
| ROCE % | 17.5 | 31.39 | 20.71 | 7.97 |
| Debt / Equity | 1.05 | 1 | 3.05 | 8.9 |
| RoNW % | 24.3 | 43.27 | 51.83 | 38.87 |
| Pat Margin % | 10.18 | 11.13 | 10.71 | 6.24 |
Peers Comparison
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| INDO SMC Limited | 10 | 0 | 9.61 | 9.61 | 43.27 | 21.39 |
| Aeron composite Ltd | 10 | 13.01 | 7.84 | 7.84 | 13.21 | 59.33 |
| RMC switch gear Ltd | 10 | 14.75 | 29.81 | 29.81 | 29.4 | 101.39 |
About INDO SMC Limited
INDO SMC Ltd is engaged in the design and manufacture of a diversified range of products catering to the electrical, industrial, and infrastructure sectors.
The company specializes in the design and manufacturing of enclosure boxes for energy meters, High Tension Current Transformers (HTCT), High Tension Potential Transformers (HTPT), Low Tension Current Transformers (LTCT), LT/HT distribution boxes and panels, fiberglass-reinforced plastic (FRP) gratings, junction boxes, feeder pillars, and other power distribution and circuit-protection switchgear products.
INDO SMC Ltd operates in-house testing laboratories equipped with advanced facilities to ensure strict adherence to quality standards, performance reliability, and optimal material composition across all product lines.
The company currently operates through four manufacturing facilities located in Gujarat, Maharashtra, and Rajasthan. The manufacturing unit in Ahmedabad is dedicated to the production of SMC and FRP products and is equipped with modern machinery and material-handling systems, enabling efficient production processes and ensuring consistent product quality.
INDO SMC IPO Promoters
- Mr. Nitin Jasvantbhai Patel
- Mr. Neel Niteshbhai Shah
- Mrs. Riktabahen Sonawala
- Mr. Chaitanya Patel
- Mr. Rachit Jain
Promoters Holding
Holding Pre Issue
82.30%
Holding Post Issue
60.07%
INDO SMC IPO Objective
The Company INDO SMC IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding capital expenditure of our company to purchase Plant and machinery
- Funding the working capital requirements of the company
- General Corporate Purposes
INDO SMC Limited Address / Contact Details
INDO SMC Ltd
809,
Shilp Zaveri Shyamal Cross Road,
Vejalpur, Shyamal,
Ahmedabad, Gujarat, 380006
Phone: +91 7575812866
Email: cs@indosmc.com
Website: http://www.indosmc.com/
IPO Snapshot
INDO SMC IPO Lot Size
The INDO SMC IPO has a lot size of 1,000 shares. Retail investors require a minimum investment of ₹2,98,000 by applying for 2 lot (2,000 shares). The maximum application allowed for the retail category is 2 lots (2,000 shares), requiring an investment of ₹2,98,000.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | 298,000.00 |
| Retail (Max) | 2 | 2,000 | 298,000.00 |
| S-HNI (Min) | 3 | 3,000 | 447,000.00 |
| S-HNI (Max) | 6 | 6,000 | 894,000.00 |
| B-HNI (Min) | 7 | 7,000 | 1,043,000.00 |
Issue Reservation
- QIB — 28.54%
- NII — 21.48%
- RII — 49.98%
Book Running Lead Managers
- GYR Capital Advisors Private Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the INDO SMC IPO?
INDO SMC IPO is a Book-building IPO with a total issue size of ₹92 crore. The INDO SMC IPO price band is ₹141 to 149 per share. The INDO SMC IPO subscription opens on Tue, Jan 13, 2026, and closes on Fri, Jan 16, 2026. The INDO SMC IPO will be listed on the BSE. KFin Technologies Limited is the registrar for the INDO SMC IPO.
When will the INDO SMC IPO open for subscription?
The INDO SMC IPO opens on Tue, Jan 13, 2026 and closes on Fri, Jan 16, 2026
What is INDO SMC IPO Price Band?
INDO SMC IPO Price Band is ₹141 to 149 per share.
What is INDO SMC IPO Lot Size?
INDO SMC IPO lot size is 1000 shares, Retail investors need a minimum investment of ₹298000 based on the upper price band
What is the minimum investment for INDO SMC IPO?
The minimum investment for INDO SMC IPO is ₹298000, based on one lot of 1000 shares at the upper price band of ₹149 per share.
How to apply for INDO SMC IPO?
Investors can apply for the INDO SMC IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Jan 16, 2026. The application amount remains blocked until the INDO SMC IPO allotment is finalized.
What is INDO SMC IPO Issue Size?
INDO SMC IPO issue size is ₹92 crores.
What is the INDO SMC IPO Allotment Date?
INDO SMC IPO allotment date is Mon, Jan 19, 2026.
Who is the INDO SMC IPO Registrar?
The registrar for INDO SMC IPO is KFin Technologies Limited. Investors can go to KFin Technologies Limited website to check INDO SMC IPO allotment status, refund processing, and other IPO-related information.
What is the INDO SMC IPO GMP?
The INDO SMC IPO GMP (Grey Market Premium) is ₹25 as of Wed, Jan 7, 2026. Based on the upper price band of ₹149 per share, the estimated INDO SMC IPO listing price is ₹174, indicating a potential listing gain of approximately 16.78% over the issue price.
Who is the INDO SMC IPO Lead Manager?
The book-running lead managers (BRLMs) for the INDO SMC IPO are . The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the INDO SMC IPO Red Herring Prospectus (RHP).