INDO SMC IPO Opens Today; Price Band Set at ₹141 to ₹149 Per Share 

Mumbai, 13 January 2026: The ₹91.95 crores book build issue of INDO SMC IPO opened today for subscription, 13 January 2026, and will remain open until 16 January 2026. The IPO comprises entirely a fresh issue of 0.62 crore shares, with no offer for sale component. 

INDO SMC Ltd is engaged in the design and manufacture of a diversified range of products catering to electrical, industrial, and infrastructural applications. The company design and manufacturing of enclosure box for energy meters, high tension current transformer (“HTCT”), high tension potential transformer (“HTPT”), low tension current transformer (“LTCT”), LT/HT distribution boxes and panels, fiberglass reinforced plastic (“FRP”) Grating, junction boxes, feeder pillars and other power distribution and circuit protection switchgears. 

Price Band Between ₹141 to ₹149 Per Share; Lot Size 1000 Shares 

INDO SMC IPO is a book build issue of ₹91.95 crores. The issue is entirely a fresh issue of 0.62 crore shares of ₹91.95 crore. 

INDO SMC IPO bidding opens for subscription today, January 13, 2026 and will close on January 16, 2026. The allotment for the IPO is expected to be finalised on Jan 19, 2026, and the shares will list on BSE SME with a tentative listing date fixed as January 21, 2026. 

INDO SMC IPO price band is set at ₹141 to ₹149 per share. The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹2,98,000 (2,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to ₹4,47,000. 

GYR Capital Advisors Pvt. Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company areGiriraj Stock Broking Pvt. Ltd., Nikunj Stock Brokers Ltd. 

INDO SMC IPO Reservation and Anchor Investors  

With regard to IPO reservation, the IPO offers total 61,71,000 shares. Out of which 29,28,000 (47.45%) has been allocated to QIB, 11,72,000 (18.99%) allocated to QIB (Ex- Anchor), 8,82,000 (14.29%) allocated to NII, 20,52,000 (33.25%) allocated to RII and 17,56,000 (28.46%) allocated to Anchor investors. 

INDO SMC IPO raised ₹26.16 crore from anchor investors on January 12, 2026. Some of the key investors were Bengal Finance and Investment Limited, HDFC Bank Limited, Master Growth 369 Alternate Investment Trust, and Visionary Value Fund, among others. 

Utilisation of Proceeds 

The company proposes to utilise the net proceeds from the issue towards funding capital expenditure of the company to purchase plant and machinery (₹25.71 crore), funding the working capital requirements of the company (₹52.00 crore), and meet general corporate purposes 

INDO SMC Key Financials 

The restated consolidated financial statements reflected steady growth in recent periods. The assets increased from ₹13.85 crore as at March 2023 to ₹147.67 crore in September 2025 and the total income grew from ₹7.30 crore to ₹112.62 crore ov͏er ͏the same span͏. The post-tax profit increased from ₹0.46 crore to ₹11.46 crore and the EBITDA went up from ₹1.15 crore to ₹17.19 crore. The net-worth also rose from ₹1.17 crore to ₹47.14 crore, alongside g͏rowth in reserves, surplus and total borrowings.  

Day 1 Subscription 0.16 Times So Far 

The INDO SMC IPO wa͏s subscribed 0.16͏ times ͏by 10:39͏ am on January 13, 2026, on Day 1. ͏Retail individual investors subscribe 0.21 times, while non-͏institutional inves͏tors ͏recorded 0.24 times subscription, wi͏th͏ bNII at 0.26 times and͏ sNII at 0.20 times. Qualified institutional buyers excluding anchors showed͏ no͏ participation at ͏0.00 times͏. The anchor portion was fully subscribed with͏ 17.56 lakh s͏hares͏, whi͏le total bids stood at 6.42 lakh shares against 41.06 ͏lakh offered.  

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