INDO SMC Limited IPO
INDO SMC Limited IPO
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INDO SMC Limited's has transitioned to a publicly listed entity following its IPO debut on 21-01-2026 at the BSE exchange. The public offering successfully raised 61,71,000 Shares, consisting of 61,71,000 Sharesin new capital.
The IPO featured a competitive price range of ₹141 to ₹149 and minimum application size of 1000 shares. Market reception was evidenced through subscription activity between 13-01-2026 and 16-01-2026, reflecting investor appetite for the offering.
Allotment of shares was completed on 19-01-2026, distributing equity to successful applicants. The listing marked the beginning of the company's journey as a publicly traded corporation, subject to market dynamics and regulatory oversight.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
INDO SMC IPO About Company
INDO SMC Ltd is engaged in the design and manufacture of a diversified range of products serving electrical, industrial, and infrastructure applications, including enclosure boxes for energy meters, high and low tension current and potential transformers, LT/HT distribution boxes and panels, FRP gratings, junction boxes, feeder pillars, and other power distribution and circuit protection switchgears. The company has in-house testing laboratories to ensure quality standards and appropriate material composition, and currently operates four manufacturing facilities located across Gujarat, Maharashtra, and Rajasthan, with its Ahmedabad unit dedicated to SMC and FRP products and equipped with advanced machinery and handling systems to support efficient and reliable production.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
INDO SMC IPO Strength Factors
- Diverse Product Range: Caters to multiple electrical and infrastructure applications, reducing reliance on a single product.
- Strong Manufacturing Capabilities: Operates multi-location facilities with specialized equipment for efficient scale-up.
- Industry Expertise & Leadership: Experienced management and technical expertise support strong execution and quality.
INDO SMC IPO Risk Factors
- Regulatory & Documentation Risk: Address mismatches across licenses and approvals at the Pirana plant may create legal or operational issues.
- Raw Material Price Volatility: Rising input costs can impact margins and profitability.
- Tender Dependence: Heavy reliance on competitive bidding may affect revenue and growth due to pricing pressure or bid losses.
INDO SMC IPO Lead Manager(s)
- GYR Capital Advisors Private Limited
INDO SMC IPO Promoter(s)
- Mr. Nitin Jasvantbhai Patel
- Mr. Neel Niteshbhai Shah
- Mrs. Riktabahen Sonawala
- Mr. Chaitanya Patel
- Mr. Rachit Jain
INDO SMC IPO FAQs
INDO SMC Limited IPO subscribed 110.45 times. The public issue subscribed 95.9 times in the retail category,94.94times in QIB, and 193.89 times in the HNI (10+) category byJanuary 21, 2026 4:15:00 AM (Day 21).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
INDO SMC IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
INDO SMC IPO FAQs
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A category of eligible shareholders or other investors who have a reserved quota in the IPO.
If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on or send an email with all relevant details to .
