Indo SMC Limited IPO
Indo SMC operates a diversified manufacturing business comprising three key divisions. Its Sheet Moulding Compound (SMC) division manufactures energy meter enclosure boxes, SMC sheets and SMC chequered plates, produced in compliance with IS:13410 and IS:14772 standards. The Fiberglass Reinforced Plastic (FRP) division focuses on the manufacture of moulded grating plates, storage tanks and allied products that are customized for industrial applications and offer enhanced corrosion resistance. In addition, the electrical components division manufactures HTCTs, HTPTs, LTCTs, feeder pillars and other power distribution and protection switchgears. The Company maintains in-house testing laboratories for testing incoming materials and finished goods.
Price Band₹141 - ₹149 |
Dates13 Jan - 16 Jan |
GMP₹14 (9.40%) |
Subscriptions102.83 times |
Issue Size₹91.95 Crs |
Indo SMC IPO Key Dates
Opening Date
13 Jan 26
Closing Date
16 Jan 26
Basis Of Allotment
19 Jan 26
Initiations Of Refund
20 Jan 26
Credit Of Shares
20 Jan 26
Listing Date
21 Jan 26
Indo SMC IPO Objects
- Funding capital expenditure of the company to purchase Plant & machinery
- Funding the working capital requirements of the company
- General Corporate Purposes
Indo SMC IPO Details
Price Band₹141 - ₹149 |
Listing AtBSE SME |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹91.95 Cr (0.62 Cr Shares) |
Offer For Sale₹0.00 (0.00 Shares) |
Total Issue₹91.95 Cr (0.62 Cr Shares) |
Face Value₹10 per equity share |
Indo SMC IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Individual Investor |
Minimum
2
2,000
2,98,000
Maximum
2
2,000
2,98,000
|
|||
| Small HNI |
Minimum
3
3,000
4,47,000
Maximum
6
6,000
8,94,000
|
|||
| Big HNI |
Minimum
7
7,000
10,43,000
|
|||
Indo SMC IPO Subscription
Updated as on 16 Jan 2026 | 05:00:00 PM
| Investor Category | Subscription (times) | Shares Offered | Shared Bid |
|---|---|---|---|
| QIB | 94.94 | 11,72,000 | 11,12,65,000 |
| NII | 122.14 | 8,82,000 | 14,54,74,000 |
| bNII (bids above ₹10L) | 193.89 | 5,88,000 | 11,40,09,000 |
| sNII (bids between ₹2L to ₹10L) | 107.02 | 2,94,000 | 3,14,65,000 |
| Retail | 96.13 | 20,52,000 | 19,72,52,000 |
| Total | 102.83 | 44,15,000 | 45,39,91,000 |
Indo SMC IPO GMP
The estimated Grey Market Premium of Indo SMC IPO is ₹14 per share (9.40%)
Category Allocation
| Particulars | Allocation |
|---|---|
| QIB | Not more than 50% of Net Offer |
| NII | Not less than 15% of Net Offer |
| Retail | Not less than 35% of Net Offer |
| Market Maker | 3,09,000 EQ. Shares |
Indo SMC IPO Financials
| Particulars | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Revenue | 112.54 | 138.69 | 28.03 | 7.30 |
| PAT | 11.46 | 15.44 | 3.00 | 0.46 |
| Net Worth | 47.14 | 35.69 | 5.79 | 1.17 |
| Borrowings | 49.35 | 35.76 | 17.70 | 10.43 |
| Assets | 147.67 | 99.94 | 36.32 | 13.85 |
| NAV (₹) | 28.25 | 21.39 | 3.77 | 0.86 |
| EPS (₹) | 6.87 | 9.61 | 2.19 | 0.33 |
The financial information presented is on a consolidated basis.
Key Performance Indicators
| KPI | VALUES |
|---|---|
| EBITDA | 16.45% |
| PAT | 11.13% |
| ROE | 74.45% |
| ROCE | 31.39% |
| Debt to Equity | 1.00 |
| PE Ratio | 15.50 |
| PB Ratio | 6.97 |
| Mkt Cap (in Crs.) | 340.54 |
- All the data pertains to FY 2024-25.
- PE, PB, and market capitalization are calculated based on the Upper Price Band.
Indo SMC IPO Peer Comparision
| Particulars | Indo SMC | Aeron composite | RMC Switchgears |
|---|---|---|---|
| Revenue | 138.69 | 215.31 | 318.16 |
| PAT | 15.44 | 13.34 | 31.45 |
| EPS (₹) | 9.61 | 7.84 | 29.81 |
| NAV (₹) | 21.39 | 59.33 | 101.39 |
| RONW | 43.27% | 13.21% | 29.40% |
| EBITDA | 16.45% | 10.76% | 17.06% |
| PAT Mrgn | 11.13% | 6.20% | 9.89% |
| PE Ratio | 15.50 | 13.01 | 14.75 |
| Debt to Equity | 1.00 | 0.45 | 0.55 |
The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of 26th December, 2025 for Peers
Indo SMC IPO Peer Comparision
| Particulars | Indo SMC |
|---|---|
| Revenue | 138.69 |
| PAT | 15.44 |
| EPS (₹) | 9.61 |
| NAV (₹) | 21.39 |
| RONW | 43.27% |
| EBITDA | 16.45% |
| PAT Mrgn | 11.13% |
| PE Ratio | 15.50 |
| Debt to Equity | 1.00 |
| Aeron composite | RMC Switchgears |
|---|---|
| 215.31 | 318.16 |
| 13.34 | 31.45 |
| 7.84 | 29.81 |
| 59.33 | 101.39 |
| 13.21% | 29.40% |
| 10.76% | 17.06% |
| 6.20% | 9.89% |
| 13.01 | 14.75 |
| 0.45 | 0.55 |
The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of 26th December, 2025 for Peers
Promoter Details
| Name | Shareholding |
|---|---|
| Nitin Patel | 16.36% |
| Riktabahen Sonawala | 16.36% |
| Neel Shah | 16.36% |
| Chaitanya Patel | 16.36% |
| Rachit Jain | 16.36% |
| Others | 0.50% |
| Total | 82.30% |
Management Details
| Name | Designation |
|---|---|
| Nitin Patel | Chairman |
| Neel Shah | MD & CFO |
Company Details
Name: Indo SMC Limited
Address: 809, Shilp Zaveri Shyamal Cross Road, Vejalpur, Shyamal , Ahmedabad, Gujarat, India, 380006
Number: +91 7575812866
Email: investor@indosmc.com
Website: www.indosmc.com
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Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
Indo SMC IPO is a SME IPO having an issue size of Rs. ₹91.95 Crs. Indo SMC IPO is priced at ₹141 - ₹149 per share. The issue opens on 13 Jan 26 and closes on 16 Jan 26.
Indo SMC IPO opens on 13 Jan 26 and closes on 16 Jan 26.
The estimated Grey Market Premium of Indo SMC IPO is ₹14 per share (9.40%).
The minimum lot size of Indo SMC IPO is 1000 shares & the minimum application amount is Rs. 149000.
The allotment date of Indo SMC IPO is 19 Jan 26.
The listing date of Indo SMC IPO is 21 Jan 26.
Indo SMC IPO is subscribed 102.83 times.
Indo SMC IPO is priced at ₹141 - ₹149 per share.
Click the allotment link on Indo SMC IPO page of IPO360.
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- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
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- Navigate to the 'IPO' or 'ASBA' section.
- Select Indo SMC IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date
