INDO SMC IPO Details, Price, GMP & Review 2026
16 January 2026 ·
A Complete Guide to INDO SMC IPO: Share Price, GMP, Financials, Risks & Long-Term Outlook
Introduction to INDO SMC IPO
The INDO SMC IPO is one of the notable BSE SME IPOs of January 2026, attracting attention due to its strong revenue growth, expanding manufacturing base, and presence in India’s power and electrical infrastructure ecosystem. As power distribution, smart metering, and industrial electrification gain momentum, companies supplying critical electrical components stand to benefit from long-term demand tailwinds.
With a fresh issue structure and no offer-for-sale component, the IPO is positioned as a capital-raising exercise to support business expansion and operational scaling.
INDO SMC IPO Key Highlights
| Metric | Details |
|---|---|
| IPO Type | Book Building IPO |
| Issue Size | ₹91.95 Crore |
| Fresh Issue | 61,71,000 Shares |
| Listing Exchange | BSE SME |
| Issue Price | ₹149 per share |
| Face Value | ₹10 per share |
INDO SMC IPO Timeline
| Event | Date |
|---|---|
| IPO Open Date | Jan 13, 2026 |
| IPO Close Date | Jan 16, 2026 |
| Allotment Date | Jan 19, 2026 |
| Refund Initiation | Jan 20, 2026 |
| Listing Date | Jan 21, 2026 |
INDO SMC IPO Lot Size & Investment Details
| Category | Shares | Investment Amount |
|---|---|---|
| Retail (Minimum) | 2,000 | ₹2,98,000 |
| Retail (Maximum) | 2,000 | ₹2,98,000 |
| S-HNI (Minimum) | 3,000 | ₹4,47,000 |
| S-HNI (Maximum) | 6,000 | ₹8,94,000 |
| B-HNI (Minimum) | 7,000 | ₹10,43,000 |
INDO SMC IPO Investor Allocation
| Investor Category | Shares Offered | Percentage |
|---|---|---|
| QIB | 29,28,000 | 47.45% |
| Anchor Investors | 17,56,000 | 28.46% |
| NII (HNI) | 8,82,000 | 14.29% |
| Retail Investors | 20,52,000 | 33.25% |
| Market Maker | 3,09,000 | 5.01% |
About INDO SMC Ltd
INDO SMC Ltd is engaged in the design and manufacturing of electrical and power distribution products used across industrial, infrastructure, and utility segments. The company supplies critical components that support power transmission, metering, and circuit protection systems.
Its diversified product range positions it as a key supplier in India’s expanding electrical infrastructure value chain.
Product Portfolio & Business Operations
INDO SMC’s offerings include:
Enclosure boxes for energy meters
HT & LT current transformers (HTCT, LTCT)
Potential transformers (HTPT)
LT/HT distribution boxes and panels
FRP gratings and junction boxes
Feeder pillars and switchgears
The company also maintains in-house testing laboratories, ensuring strict adherence to quality and safety standards before dispatch.
Manufacturing Footprint & Capabilities
INDO SMC operates four manufacturing facilities across Gujarat, Maharashtra, and Rajasthan. The Ahmedabad facility focuses on SMC and FRP products and is equipped with modern machinery to ensure efficient production and material handling.
This distributed manufacturing presence supports scalability and reduces supply-chain concentration risk.
Competitive Strengths
Diversified electrical and infrastructure product portfolio
Strong in-house manufacturing and testing capabilities
Experienced leadership with industry expertise
Established customer relationships
Focus on quality assurance and compliance
INDO SMC Financials (₹ Crore)
| Metric | FY2023 | FY2024 | FY2025 | Sep 2025 |
|---|---|---|---|---|
| Total Assets | 13.85 | 36.32 | 99.94 | 147.67 |
| Total Income | 7.30 | 28.06 | 138.78 | 112.62 |
| Profit After Tax | 0.46 | 3.00 | 15.44 | 11.46 |
| Net Worth | 1.17 | 5.79 | 35.69 | 47.14 |
INDO SMC IPO GMP Overview
The INDO SMC IPO GMP is being closely tracked by SME IPO investors. GMP trends often reflect short-term demand, but for SME listings, they should be used only as a sentiment indicator, not an investment decision trigger.
Savvy investors typically assess GMP alongside:
Anchor investor participation
Subscription trends
Financial growth consistency
Ultra users often monitor IPO GMP today, subscription data, and listing performance from a single dashboard.
Key Risks to Consider
SME stocks have limited post-listing liquidity
Working capital–intensive manufacturing operations
Customer concentration risk
Cyclicality in infrastructure spending
INDO SMC IPO Review: Should You Apply?
The INDO SMC IPO review suggests it may suit investors who:
Understand SME IPO risk-return dynamics
Prefer manufacturing-led growth stories
Are comfortable with medium-term holding horizons
The company’s improving margins and net worth growth are positives, but conservative investors should size positions carefully.