INDO SMC IPO Details

SME

INDO SMC IPO opens for subscription on 13 Jan 2026 and closes on 16 Jan 2026. The IPO will be listed on BSE with the tentative listing date set for 21 Jan 2026.

INDO SMC IPO price band has been fixed at ₹141 – ₹149 per share.The face value is ₹10 per share with a lot size of 1000.

INDO SMC IPO total issue size comprises 61,71,000 shares (aggregating up to ₹91.95 Cr.). This includes a fresh issue of 61,71,000 shares (aggregating up to ₹91.95 Cr.). Pre-issue shareholding stands at 1,66,84,350, which will increase to 2,28,55,350 post-issue.

INDO SMC IPO carries a ₹32 (21.48%) GMP, reflecting investor sentiment.

INDO SMC IPO Lot Size : Individual Minimum is 2 lots (2,000 shares) amounting to ₹298,000. Individual Maximum is 2 lots (2,000 shares) amounting to ₹298,000. SHNI Minimum is 3 lots (3,000 shares) amounting to ₹447,000. SHNI Maximum is 6 lots (6,000 shares) amounting to ₹894,000. BHNI Minimum is 7 lots (7,000 shares) amounting to ₹1,043,000.

The Lead Managers for INDO SMC IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is GYR Capital Advisors Pvt Ltd. To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.

For SME (Small and Medium-sized Enterprise) IPOs, a Market Maker is appointed to ensure liquidity and stability for the stock once it is listed. They do this by continuously quoting bid and ask prices, ensuring there is a market for the shares. The appointed market maker for this IPO is Giriraj Stock Broking, Nikunj Stock Brokers. You can analyze their track record by checking the Market Maker Performance Summary report.

For detailed information, Refer to the INDO SMC Limited RHP.

INDO SMC IPO Details

Open Date

13 Jan 2026

Close Date

16 Jan 2026

Listing Date

21 Jan 2026

Issue Price

₹141 - ₹149

Face Value

₹10 per share

Lot Size

1000

GMP

₹32 (21.48%)

Issue Type

IPO

Listing On

BSE

Type

Book Built Issue

Share holding pre issue

16684350

Share holding post issue

22855350

Total Issue Size

61,71,000 shares (aggregating up to ₹91.95 Cr.)

Fresh Issue

61,71,000 shares (aggregating up to ₹91.95 Cr.)

Offer for Sale

INDO SMC IPO Subscription

INDO SMC IPO Application Wise Breakup

INDO SMC IPO Dates

13 Jan 2026
Opening dateOpen
16 Jan 2026
Closing dateClose
19 Jan 2026
Allotment Date Allotment
20 Jan 2026
Initiation of RefundsRefund
20 Jan 2026
Credit of SharesCredit
21 Jan 2026
Listing dateListing

INDO SMC IPO Lot Size

Application	Lots	Shares	Amount
Individual Minimum	2	2000	₹298,000
Individual Maximum	2	2000	₹298,000
SHNI Minimum	3	3000	₹447,000
SHNI Maximum	6	6000	₹894,000
BHNI Minimum	7	7000	₹1,043,000

INDO SMC IPO Reservation

Promoter Holding

Pre Issue:82.30%

Post Issue:60.07%

Promoter Names:

Mr. Nitin Jasvantbhai Patel, Mr. Neel Niteshbhai Shah, Mrs. Riktabahen Sonawala, Mr. Chaitanya Patel, Mr. Rachit Jain

Documents

› INDO SMC IPO DRHP

› INDO SMC IPO RHP

› Anchor Investors in INDO SMC IPO

INDO SMC IPO Valuations

ROE:74.45%

ROCE:31.39%

DEBT/EQUITY:1.00

RONW:43.27%

PAT MARGIN:11.13%

PRICE TO BOOK VALUE:6.97

P/E Pre IPO:16.1

P/E Post IPO:14.86

INDO SMC Financial Information

Period Ended	30 Sep 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	147.67	99.94	36.32	13.85
Total Income	112.62	138.78	28.06	7.30
Profit After Tax	11.46	15.44	3.00	0.46
EBITDA	17.19	22.83	5.08	1.15
NET Worth	47.14	35.69	5.79	1.17
Reserves and Surplus	30.46	19.00	5.06	0.52
Total Borrowing	49.35	35.76	17.70	10.43
Amount in ₹ Crore

About INDO SMC IPO

INDO SMC Ltd is engaged in the design and manufacture of a diversified range of products catering to electrical, industrial, and infrastructure applications. The Company provides engineered solutions for power distribution, metering protection, and circuit management across utility and industrial end-users.

INDO SMC Ltd’s product portfolio includes 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 switchgears. These products are designed to meet operational reliability, safety, and durability requirements across diverse installations.

The Company operates with in-house testing laboratories, enabling stringent quality checks and validation of material composition and performance parameters to ensure compliance with applicable standards and customer specifications.

INDO SMC Ltd currently operates through four manufacturing facilities located across Gujarat, Maharashtra, and Rajasthan. Its manufacturing unit at Ahmedabad is equipped with specialized machinery and handling tools for the production of SMC and FRP products, supporting efficient manufacturing processes and consistent product quality.

With its integrated design capabilities, diversified product range, quality-focused manufacturing, and multi-location production footprint, INDO SMC Ltd is positioned to serve the growing requirements of India’s power, infrastructure, and industrial sectors.

Strength Of INDO SMC IPO

We possess a highly skilled and experienced team with strong engineering expertise. This talent pool allows us to conceptualize and deliver innovative fixture solutions tailored to our clients' needs.
We have in-house designing team which enables us to manufacture tailor-made products for fulfilment of the client requirements.
We are equipped with hi-tech, advanced machinery that enhances our production capabilities and ensures precision in manufacturing.
We have strong order book from government representing a greater revenue growth enabling us to apply for tenders of greater value in future.
We have wide range of products catering to different sectors like electric utilities, constructions.

Risk Of INDO SMC IPO

Discrepancy in the address mentioned in Factory License, Consents To Establish ("CTE") and Consents to Operate ("CTO") and the Lease Deeds of the INDO SMC Limited (Company) Pirana, Ahmedabad Plant Could have legal implications and could impact the company's Operations.
Increase in the prices of raw materials could have an adverse effect on its business, results of operations and financial condition.
The company's revenue is largely dependent on the orders received from the customers through competitive bidding process.
The company requires certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate the company's business, any failures to obtain, retain and renew such approvals and licenses or comply with such rules and regulations may adversely affect its operations.
The company is primarily dependent upon few key suppliers for procurement of raw materials. Any disruption in the supply of raw materials from such selective suppliers and geographical location could have a material adverse effect on its business operations and financial conditions.
The company may be unable to sufficiently obtain, maintain, protect, or enforce its intellectual property and other proprietary rights.
The Company is party to certain legal proceeding. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
The Company is yet to place orders for the machinery for the expansion of the manufacturing unit. Any delay in placing orders or procurement of such machinery may delay the schedule of implementation and possibly increase the cost of operations.
If there are delays in setting up and the proposed expansion or if the costs of setting up and the possible time or cost overruns related to the proposed facilities or the purchase of plant and machinery for the proposed facilities are higher than expected, it could have a material adverse effect on its financial condition, results of operations and growth prospects.
The Company had negative cash flows during certain fiscal years in relation to its operating, investing and financing activities. Sustained negative cash flows in the future would adversely affect the company's results of operations and financial condition.