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 |
13 Jan 26
16 Jan 26
19 Jan 26
20 Jan 26
20 Jan 26
21 Jan 26
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 |
| 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
|
|||
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 |
The estimated Grey Market Premium of Indo SMC IPO is ₹14 per share (9.40%)
| 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 |
| 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.
| 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 |
| 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
| 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
| 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% |
| Name | Designation |
|---|---|
| Nitin Patel | Chairman |
| Neel Shah | MD & CFO |
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
Frequently 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.