INDO SMC IPO
Open SmeCurrent GMP
₹25 (+16.78%)
Price Band
₹ 141 – 149
Lot Size
1000
Issue Size
₹92 Cr
Minimum Investment
₹298000 (2000 Shares)
Listing Date
21 January 2026
Subscription
110.57x
About the Company
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.
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%
Objects of the Issue
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
Address / Contact Info
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
IPO Timeline (Tentative)
IPO Open Date
Tuesday, 13 January 2026
IPO Close Date
Friday, 16 January 2026
Basis of Allotment
Monday, 19 January 2026
Initiation of Refunds
Tuesday, 20 January 2026
Credit of Shares to Demat
Tuesday, 20 January 2026
Listing Date
Wednesday, 21 January 2026 — NSE & BSE
Important Dates
Open Date
13 January 2026
Close Date
16 January 2026
Basis Of Allotment
19 January 2026
Listing Date
21 January 2026
Financial Performance (₹ 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 |
EPS Pre
9.25%
EPS Post
10.02%
P/E Pre
16.10
P/E (Post Issue)
14.86x
Company Financial Information
KPI Information (₹ in Crores)
| 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 |
| PbW | 0 | 0 | 0 | 0 |
| Pat Margin % | 10.18 | 11.13 | 10.71 | 6.24 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 1172000 | 28.54 | 0 |
| Non-Institutional | 882000 | 21.48 | 0 |
| BNII | 588000 | 14.32 | 0 |
| SNII | 294000 | 7.16 | 0 |
| Retail Investors | 2052000 | 49.98 | 0 |
| Total | 4106000 | 100 | 0 |
Subscription Status ( Fri, 16 Jan 26 01:31 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 1172000 | 111265000 | 94.94x |
| Non-Institutional | 882000 | 145474000 | 164.94x |
| Retail Investors | 2052000 | 197254000 | 96.13x |
| Total | 4106000 | 453993000 | 110.57x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| INDO SMC Limited | 10 | 0.00 | 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 | 29.40 | 101.39 |
Lot Size & Investment Details
| 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 |
Registrar
Kfin Technologies Limited
04067162222, 04079611000
reachus@kfintech.com
https://www.kfintech.com
Book Running Lead Managers
- GYR Capital Advisors Private Limited
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
INDO SMC IPO is a Book-building IPO worth ₹92 crores. The price band is ₹141 to 149 per share. The IPO opens on Tue, Jan 13, 2026 and closes on Fri, Jan 16, 2026. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.
The INDO SMC IPO opens on Tue, Jan 13, 2026 and closes on Fri, Jan 16, 2026
INDO SMC IPO Price Band is ₹141 to 149.
INDO SMC IPO lot size is 1000, and the minimum amount required for application is ₹298000.
The minimum investment for INDO SMC IPO is approximately ₹298000 based on the upper price band.
To apply for the INDO SMC IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, Jan 16, 2026. After submission, funds are blocked until the basis of allotment of INDO SMC IPO is finalised.
INDO SMC IPO issue size is ₹92 crores.
INDO SMC IPO allotment date is Sat, Jun 27, 2026.
The registrar for INDO SMC IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to INDO SMC IPO through their official website or helpline.
The INDO SMC IPO GMP (Grey Market Premium) is ₹25 as of Mon, Jan 19, 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 31% over the issue price.