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INDO SMC IPO
Price Band
₹141.0–149.0
Issue Size
₹91.95 Cr
Lot Size
1,000 shares
Min Investment
₹298,000
2 LOTS MIN
GMP
+₹10.0 (6.71%)
Issue Price
₹149.0
INDO SMC IPO AI Summary
- INDO SMC IPO is listed on BSE SME in the Other Electrical Equipment sector.
- Price band: ₹141.0–₹149.0 per share, lot size 1,000 shares (min. investment ₹298,000, 2 lots minimum).
- Subscription window: 13 Jan–16 Jan 2026, listing on 21 Jan 2026.
- Current GMP is +₹10.0 (6.71%), an estimated listing price of ₹159 — unofficial and can change daily.
INDO SMC Ltd is preparing for its IPO with a price band of ₹141.0 to ₹149.0 and aims to raise ₹91.95 Cr. The company has shown significant growth in total income and profit over recent periods, and it operates in a competitive industry with a diverse product range.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
INDO SMC IPO Grey Market Premium (GMP) Today
GMP
+₹10.0
GMP %
+6.71%
Est. Listing
₹159.0
Updated: 14 Jul 2026 15:53
About the Company
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. The company has in-house testing laboratories to ensure products meet quality requirements and suitable material composition. The company currently operate through four manufacturing facility, located at Gujarat, Maharashtra and Rajasthan. The manufacturing facility at Ahmedabad where they manufacture SMC and FRP products, comes equipped with a variety of machinery and other handling tools to guarantee appropriate product handling and efficient production. Competitive Strengths: Diverse Product Range Strong Manufacturing Capabilities Industry Expertise and Leadership Robust Quality Assurance and control Established relationship with customers
Company Financials (₹ Cr)
As of 2025-09-30
| 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 |
Key Ratios
EPS
₹9.25
NAV
₹21.39
ROE
74.45%
ROCE
31.39%
RoNW
43.27%
P/B Value
6.97
P/E Ratio
16.1
Market Cap
₹340.54 Cr
PAT Margin
11.13%
Debt/Equity
1.00
Promoters
Nitin Jasvantbhai Patel, Neel Niteshbhai Shah, Riktabahen Sonawala, Chaitanya Patel and Rachit Jain
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding capital expenditure of the company to purchase Plant and Machinery 25.71 2 Funding the working capital requirements of the Company 52.00 3 General Corporate Purposes 6.89 4 Issue expenses 7.35 Total 91.95
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹7.30 Cr in the year ending 31 Mar 2023, increasing to ₹28.06 Cr by 31 Mar 2024. It further rose to ₹138.78 Cr by 31 Mar 2025, though this is a 9-month figure, not a full year, so isn't directly comparable. As of 30 Sep 2025, total income was ₹112.62 Cr.
Profit Trend
Profit After Tax was ₹0.46 Cr in the year ending 31 Mar 2023, rising to ₹3.00 Cr by 31 Mar 2024. It further increased to ₹15.44 Cr by 31 Mar 2025, though this is a 9-month figure, not a full year, so isn't directly comparable. As of 30 Sep 2025, profit after tax was ₹11.46 Cr.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO compared to its issue price. A positive GMP suggests that the stock may list at a higher price than the issue price, reflecting demand in the unofficial market.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It is important to consider the company's fundamentals and market conditions.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs like this, which can be subject to significant price fluctuations on listing day and thereafter.
IPO Timeline, Explained
The IPO is set to open on 13 January 2026 and will close on 16 January 2026. Allotment of shares will be done on 19 January 2026, with the listing expected on 21 January 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make on the first day of trading after an IPO. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-listing.
This evaluation is generated from INDO SMC's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is INDO SMC IPO GMP today?
INDO SMC IPO GMP today is +₹10.0 (6.71%), indicating an estimated listing price of ₹159. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of INDO SMC IPO?
The price band of INDO SMC IPO is ₹141.0–₹149.0 per share.
When does INDO SMC IPO open and close?
INDO SMC IPO opens on 13 January 2026 and closes on 16 January 2026.
When does INDO SMC IPO list on the stock exchange?
INDO SMC IPO listed on 21 January 2026 at ₹159.0.
What is the lot size for INDO SMC IPO?
The lot size for INDO SMC IPO is 1000 shares, requiring a minimum investment of ₹298,000 (2 lots).
What is the lot size for the IPO?
The lot size for the IPO is 1000 shares.
What is the minimum investment required?
The minimum investment required is ₹298,000.
What is the price band for the IPO?
The price band for the IPO is ₹141.0 to ₹149.0.
When is the listing date?
The listing date is 21 January 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
13 Jan 2026
Close
16 Jan 2026
Allotment
19 Jan 2026
Listing
21 Jan 2026
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