Indo SMC’s IPO to Open for Subscription on January 13, 2026

INDO SMC is set to open its Initial Public Offering (IPO) on Tuesday, January 13, 2026. The company plans to raise ₹91.95 crore through the issue.  

According to the red herring prospectus, the IPO comprises only a fresh issue of 6.2 million equity shares. There is no offer-for-sale component by existing shareholders. 

Price Band and Application Details 

The shares are being offered in a price band of ₹141 to ₹149 per share. The lot size has been fixed at 1,000 shares.  

Investors are required to apply for a minimum of 2,000 shares, with bids allowed in multiples of 100 shares thereafter. At the upper end of the band, the minimum application amount comes to around ₹2.98 lakh. 

Timeline and Listing 

The 3-day subscription window is scheduled to close on Thursday, January 15, 2026. The basis of allotment is expected to be finalised on January 16. Shares are likely to be credited to investors’ demat accounts by January 19, 2026. The equity shares are proposed to be listed on the BSE SME on January 20, subject to approvals. 

Allocation and Intermediaries 

Nearly 47.45% of the issue has been reserved for qualified institutional buyers. Retail individual investors have been allocated about 33.25%, while non-institutional investors have been allotted 14.29%.  

KFIN Technologies is the registrar to the issue, and GYR Capital Advisors is the sole book-running lead manager. 

Indo SMC Business and Financials 

Indo SMC manufactures enclosure boxes and related components used in power distribution and metering systems.  

Revenue from operations rose from ₹28.03 crore in FY24 to ₹138.69 crore in FY25. Profit after tax for FY25 stood at ₹15.44 crore. For the 9 months ended September 2025, revenue was ₹112.54 crore. 

Use of Proceeds 

The company plans to use the proceeds mainly for capital expenditure, including the purchase of plant and machinery. The remaining funds will be used to meet working capital needs and for general corporate purposes. 

Read More:  Reliance Jio Eyes 2.5% IPO in 2026 That Could Be India’s Biggest Ever! 

Conclusion  

With the issue opening on January 13, Indo SMC is looking to raise ₹91.95 crore via a fully fresh equity offering. The shares are proposed to be listed on the BSE SME platform, subject to regulatory clearances. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
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