INDO SMC came to market through an SME IPO that opened on 13 January 2026 and closed on 16 January 2026, and the shares listed on 21 January 2026 on BSE SME. The price band was ₹141 to ₹149 per share and one lot was 1000 shares, so the minimum application was ₹1,49,000. The issue size was ₹91.95 crore. The whole issue was fresh shares, so the money raised went to the company.
Kfin Technologies Ltd was the registrar to the issue, and GYR Capital Advisors Pvt.Ltd was the lead manager.
As of 16 January 2026.
| Day |
|---|
| 1 |
| 2 |
| 3 |
The company, INDO SMC Ltd., is involved in the design and manufacture of a variety of goods for electrical, industrial, and infrastructure purposes. Designing, manufacture 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 & Panels, Fiberglass Reinforced Plastic (FRP) Grating, Junction Boxes, Feeder Pillars, & other Power Distribution & Circuit Protection Switchgears.
The company has testing laboratories to ensure that their products meet quality requirements as well as proper material content. It is currently operating through four manufacturing facilities situated at Gujarat, Maharashtra, and Rajasthan. The manufacturing unit at Ahmedabad, where it manufactures SMC & FRP products, is equipped with numerous machines and other handling devices to ensure appropriate handling and production.
As described in the offer document.
| Metric | 30-Sep-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
|---|
Mr. Nitin Jasvantbhai Patel, Mr. Neel Niteshbhai Shah, Mrs. Riktabahen Sonawala, Mr. Chaitanya Patel, Mr. Rachit Jain. Promoter holding 82.30% before the issue and 60.07% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
INDO SMC IPO was a ₹91.95 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹141–₹149 per share with a lot size of 1,000 shares; the minimum retail application was 2,000 shares (₹2,98,000). The IPO was open from January 13 to January 16, 2026 and was subscribed 110.57x. Shares listed on BSE SME on January 21, 2026 at ₹149, in line with the issue price of ₹149. Kfin Technologies Ltd. is the registrar.
GYR Capital Advisors Pvt. Ltd. is the book running lead manager.
The price band of INDO SMC IPO is ₹141 to ₹149 per share.
The lot size of INDO SMC IPO is 1000 shares.
The minimum investment for INDO SMC IPO is approximately ₹2,98,000 based on the upper price band.
The allotment date of INDO SMC IPO is Jan 19, 2026.
INDO SMC IPO's final recorded GMP before listing was ₹9 per share (a 6% premium over the ₹149 upper price band). The shares listed at ₹149. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check INDO SMC IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the INDO SMC IPO allotment status on Rupix for quick and easy access.
₹141 to ₹149 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,49,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,49,000, for one lot of 1000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 13 January 2026 and closed on 16 January 2026.
The basis of allotment was published on 19 January 2026 by Kfin Technologies Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 21 January 2026 on BSE SME.
The issue size was ₹91.95 crore. The fresh issue was 61,71,000 shares (aggregating up to ₹91.95 crore).