INDO SMC Limited
Bookbuilding IPO · BSE
- Price band
- ₹141 - ₹149
- Lot size
- 1,000 shares
- Issue amount
- ₹91.94 cr
- Total subscription
- 110.45×
- Opens
- 13 Jan 2026
- Closes
- 16 Jan 2026
- Allotment
- 19 Jan 2026
- Listing
- 21 Jan 2026
Offer at a glance
Issue overview
- Issue size
- 61,71,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,41,000
- Fresh issue
- ₹91.94 cr
- Offer for sale
- ₹0 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,49,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,66,84,350
- Shares after issue
- 2,28,55,350
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,000 | ₹2,98,000 |
| sHNI | 3 | 3,000 | ₹4,47,000 |
| bHNI | 7 | 7,000 | ₹10,43,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 16 Jan 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 92 |
| NIB | 0 | 25,612 |
| RETAIL | 1,026 | 98,627 |
| HNIs(10L +) | 0 | 15,623 |
| HNIs (2-10L) | 98 | 9,989 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 17.46 | 1,657.85 |
| FIIs | 0 | 347.1 |
| Others | 0 | 1,207.76 |
| RETAIL | 30.57 | 2,932.23 |
| HNIs 2+ | 4.38 | 468.16 |
| HNIs 10+ | 8.76 | 1,698.73 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 6.87 | 9.61 | 2.19 | 0.33 |
| ROE | 27.66 | 74.45 | 86.24 | 48.24 |
| ROCE | 17.5 | 31.39 | 20.71 | 7.97 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 16.1 | 0 | 0 |
| POST IPO(PE) | 14.86 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| RMC switch gear limited | 14.75 | 439.70 | 10.00 | 101.39 | 29.40 | 29.81 |
| Aeron Composite Limited | 13.34 | 102.00 | 10.00 | 59.33 | 13.21 | 7.84 |
| INDO SMC Ltd | 16.1 | 0 | 10.00 | 21.39 | 43.27 | 9.61 |
Company information
Company profile
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.
Strengths
- 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.
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.
Promoters
Mr. Nitin Jasvantbhai Patel
Mr. Neel Niteshbhai Shah
Mrs. Riktabahen Sonawala
Mr. Chaitanya Patel
Mr. Rachit Jain
Registrar & documents
Lead manager
GYR Capital Advisors Private Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
809, Shilp Zaveri Shyamal Cross Road, Vejalpur, Shyamal, Ahmedabad, Gujarat, 380006
+91 7575812866
[email protected]Company website ↗Understanding INDOSMC IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.