INDO SMC shares made a flat debut on the BSE SME on Wednesday, January 21, as they listed at the issue price of ₹149.
The initial public offering (IPO) of INDO SMC was open for subscription from Tuesday, January 13, until Friday, January 16. With a face value of ₹10, shares of INDO SMC IPO were priced between ₹141 and ₹149. INDO SMC IPO subscription status was 110.49 times on the last day of bidding.
INDO SMC Ltd specialises in the design and production of a varied array of products for electrical, industrial, and infrastructure purposes.
The company focuses on creating and manufacturing enclosure boxes for energy meters, high tension current transformers (HTCT), high tension potential transformers (HTPT), low tension current transformers (LTCT), LT/HT distribution boxes and panels, fiberglass reinforced plastic (FRP) grating, junction boxes, feeder pillars, and a variety of other switchgear for power distribution and circuit protection.
The company has shown robust growth in its financial performance in recent years. For the six months ending in September 2025, INDO SMC reported a revenue of ₹112.62 crore and a net profit of ₹11.46 crore, maintaining good operating margins, although its leverage levels are still high.
INDO SMC IPO details
IPO valued at ₹91.95 crore consisted solely of a fresh issuance of 0.62 crore shares. The funds obtained from the IPO will primarily be utilised to finance capital expenditures for machinery and equipment, fulfil working capital needs, and for general corporate activities.
Before the IPO, INDO SMC secured ₹26.16 crore from anchor investors on January 12 by allotting 17.56 lakh shares. Half of the shares allocated to anchors will be subject to a 30-day lock-in period, while the other half will have a 90-day lock-in restriction.
GYR Capital Advisors Pvt Ltd serves as the book-running lead manager, while Kfin Technologies Ltd. acts as the registrar for this issue. The market makers for the company include Giriraj Stock Broking Pvt. Ltd and Nikunj Stock Brokers Ltd.
INDO SMC IPO GMP today
INDO SMC IPO GMP today was ₹10. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the INDO SMC share price was indicated at ₹159 apiece, which is 6.71% higher than the IPO price of ₹149.
'Grey market premium' indicates investors' readiness to pay more than the issue price.'
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