INDO SMC Limited is entering the public markets through SME IPO with an issue size of ₹91.95 crore. The issue consists of a fresh issue of equity shares. The shares are proposed to be listed on BSE & SME.
The IPO subscription window opens on January 13, 2026 and will remain open until January 16, 2026. The company plans to list its shares on January 21, 2026. Being an SME IPO, the issue may appeal to investors familiar with lower liquidity listings.
INDO SMC Limited IPO Timeline
IPO Quick Facts
This section covers the main IPO details of INDO SMC Limited that investors generally review before applying.
IPO Details at a Glance
| Company Name | INDO SMC Limited |
|---|---|
| IPO Segment | SME |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Price | ₹141 – ₹149 Per Share |
| Lot Size | 1,000 Shares |
| Face Value | ₹10 Per Share |
| Exchange | BSE & SME |
Investor Category & Share Allocation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Market Maker | 309,000 | 5.01% |
| Qualified Institutional Buyers (QIB) | 2,928,000 | 47.45% |
| — Anchor Investor | 1,756,000 | 28.46% |
| — QIB (Ex Anchor) | 1,172,000 | 18.99% |
| NII (HNI) | 882,000 | 14.29% |
| — bNII > ₹10L | 588,000 | 9.53% |
| — sNII < ₹10L | 294,000 | 4.76% |
| Retail | 2,052,000 | 33.25% |
| Total Shares Offered | 6,171,000 | 100.00% |
INDO SMC Limited IPO Important Dates
The following table highlights the key dates for the INDO SMC Limited IPO, covering the subscription period and the expected listing timeline.
| IPO Opening Date | 13 Jan 2026 |
|---|---|
| IPO Closing Date | 16 Jan 2026 |
| Allotment Finalization | 19 Jan 2026 |
| Initiation of Refunds | 20 Jan 2026 |
| Credit of Shares | 20 Jan 2026 |
| IPO Listing Date | 21 Jan 2026 |
INDO SMC Limited IPO Size & Structure
| Total IPO Size | ₹91.95 Crore |
|---|---|
| Fresh Issue | ₹91.95 Crore |
INDO SMC IPO Lot Size & Minimum Investment
The table below shows the lot size and investment amount for the INDO SMC IPO, calculated using the cut-off price. The price band for this IPO ranges from ₹141 to ₹149 per share.
Investors can apply for the IPO with a minimum of 1000 shares. Applications must be made in multiples of 1000 shares.
- Retail investors can apply from 2 lot to 2 lots.
- Small HNI (SHNI) investors must apply for at least 3 lots.
- Big HNI (BHNI) investors need to apply for a minimum of 7 lots.
This information helps investors understand the minimum investment required before applying for the IPO.
Note: Retail investors generally apply at the cut-off price, which is ₹149 per share.
| Category | Lots | Shares | Price | Amount |
|---|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹149 | ₹298,000 |
| Retail (Max) | 2 | 2,000 | ₹149 | ₹298,000 |
| S-HNI (Min) | 3 | 3,000 | ₹149 | ₹447,000 |
| S-HNI (Max) | 6 | 6,000 | ₹149 | ₹894,000 |
| B-HNI | 7 | 7,000 | ₹149 | ₹1,043,000 |
INDO SMC Limited IPO GMP (Grey Market Premium)
The latest INDO SMC Limited IPO GMP (Grey Market Premium), along with Kostak rates and Subject to Sauda rates, helps in understanding market sentiment. The current INDO SMC Limited IPO GMP is ₹10 (6.71%), compared to the IPO issue price of ₹149. Based on the current GMP, the expected listing price is around ₹159. The Lowest GMP was ₹10 on 21 Jan 2026, while the highest GMP reached ₹35 on 12 Jan 2026.
INDO SMC Limited IPO was listed on the stock exchange on 21 Jan 2026. The IPO was subscribed 101.46 times. The first reported GMP was ₹25 (16.78%), while the latest recorded GMP stood at ₹10 (6.71%).Listing Details:
- Issue Price: ₹149 per share.
- Listing Price: ₹149.00 (listed at same price)
- Listing Date: 21 Jan 2026
INDO SMC Limited IPO GMP Today - Trend Analysis
| Date | Issue Price (₹) | GMP Price (₹) | Estimated Gain (%) | Estimated Price (₹) | Estimated Profit (₹) |
|---|---|---|---|---|---|
| 21 Jan 2026 | ₹149 | ▼ ₹10 | ▼ 6.71% | ₹159 | ₹20,000 |
| 20 Jan 2026 | ₹149 | ▼ ₹16 | ▼ 10.74% | ₹165 | ₹32,000 |
| 19 Jan 2026 | ₹149 | ▼ ₹25 | ▼ 16.78% | ₹174 | ₹50,000 |
| 17 Jan 2026 | ₹149 | ₹32 | 21.48% | ₹181 | ₹64,000 |
| 16 Jan 2026 | ₹149 | ▼ ₹32 | ▼ 21.48% | ₹181 | ₹64,000 |
| 13 Jan 2026 | ₹149 | ▼ ₹34 | ▼ 22.82% | ₹183 | ₹68,000 |
| 12 Jan 2026 | ₹149 | ₹35 | 23.49% | ₹184 | ₹70,000 |
| 10 Jan 2026 | ₹149 | ▲ ₹35 | ▲ 23.49% | ₹184 | ₹70,000 |
| 09 Jan 2026 | ₹149 | ₹25 | 16.78% | ₹174 | ₹50,000 |
| 08 Jan 2026 | ₹149 | ₹25 | 16.78% | ₹174 | ₹50,000 |
| 07 Jan 2026 | ₹149 | ▲ ₹25 | ▲ 16.78% | ₹174 | ₹50,000 |
INDO SMC Limited IPO GMP gives retail and institutional investors an idea about short-term market expectations. Although grey market premium does not guarantee listing performance, it is still commonly referred to while analysing IPOs. Investors are advised to look at INDO SMC Limited fundamentals along with IPO GMP data before making any investment decision.
GMP Disclaimer: GMP (Grey Market Premium) prices are unofficial and only reflect market sentiment. We neither participate in grey-market trading nor encourage it. Investors are strongly advised to review the company’s fundamentals, risks, and official documents before considering an investment in the INDO SMC Limited IPO.
INDO SMC Limited IPO Subscription Status
INDO SMC Limited IPO was subscribed 101.46 times overall on the final day of bidding (as of 16 Jan 2026).The subscription opened on 13 Jan 2026. The Retail portion was subscribed 93.37 times, while QIB and NII categories were subscribed 94.94 times and 121.82 times respectively.
Subscription by Category (QIB, NII, Retail, Employee)
Daily Subscription Trend (Day-wise):
| Date | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| 13 Jan 2026 | — | 0.74x | 1.6x | — | 0.94x |
| 14 Jan 2026 | — | 1.92x | 3.13x | — | 1.98x |
| 16 Jan 2026 | 94.94x | 121.82x | 93.37x | — | 101.46x |
The INDO SMC Limited IPO opened with strong demand on Day-1, supported by active participation from Retail and NII investors.
On Day-2, subscription levels for the INDO SMC Limited IPO rose sharply due to heavy bidding from Retail, followed by NII investors.
By the end of the bidding period, the IPO was subscribed 101.46x overall, reflecting strong demand from key investor categories, led by NII, followed by QIB and Retail investors. Overall subscription for the INDO SMC Limited IPO increased from 0.94x on Day-1 to 101.46x by the final day.
INDO SMC Limited IPO Final Subscription
| Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 94.94x |
| Non-Institutional Investors (NII) | 122.03x |
| Retail Investors | 95.26x |
| Total | 102.39x |
INDO SMC Limited IPO Allotment Status
The INDO SMC Limited IPO allotment status was released on 19 Jan 2026. Investors who applied for the IPO can now check their INDO SMC Limited allotment status online through the official registrar website and NSE / BSE portal.
- 🗓 Allotment Date: 19 Jan 2026
- 📈 Listing Date: 21 Jan 2026
How to Check INDO SMC Limited IPO Allotment Status Online?
Investors can check the INDO SMC Limited IPO allotment status online through KFin Technologies Limited and BSE websites. All platforms provide easy access to the IPO allotment details.
Just follow the below mentioned steps to check your allotment status.You can also visit
KFin Technologies
to know more about the IPO registrar.
Check on KFin Technologies Limited (IPO Registrar)
- Visit → KFin Technologies Limited
- Select INDO SMC Limited
- Enter Application No / Demat Account / PAN details
- Click Submit to view allotment status
Check on BSE (Bombay Stock Exchange) Website
- Visit → BSE Website.
- Select Issue Type: Equity.
- Choose INDO SMC Limited IPO.
- Enter your PAN or Application Number.
- Click on Search button.
The Bombay Stock Exchange (BSE) also allows investors to check the INDO SMC Limited IPO allotment status online.
Note: Allotment status is published only on the official registrar websites. We do not collect investor data or provide allotment verification directly.
How to Apply for INDO SMC Limited IPO?
Login to Your Trading App
Open your trading app such as Angel One, Zerodha, Upstox, Groww or any brokerage app.
Go to the IPO Section
Navigate to the IPO section in the app, search for the IPO, and enter your bid details.
Enter Your UPI ID
Provide your UPI ID that is linked to your bank account for payment authentication.
Approve the Mandate
Open your UPI app and approve the payment mandate to block the required amount.
Application Confirmation
Application submitted successfully, the funds will remain blocked until allotment is finalized.
INDO SMC Limited IPO Listing Analysis
Below is a quick summary of the INDO SMC Limited IPO issue price, listing price, and listing gain on BSE and NSE.
| IPO Status | Issue Price | Listing Price | Listing Gain |
|---|---|---|---|
| Listed (BSE) | ₹149 | ₹149 | ▲ 0.00% |
| Listed (NSE) | ₹149 | ₹149 | ▲ 0.00% |
INDO SMC Limited made a flat debut at ₹149. The stock closed at ₹0, declining by -₹149 (-100.00%). Investors faced a loss of -₹149,000 per lot.
📌 IPO Issue Price and Lot Size
The IPO of INDO SMC Limited was offered in the price band of ₹141 to ₹149 per share.
- The final issue price was fixed at ₹149.
- One lot consisted of 1000 shares.
- Minimum investment: ₹149 × 1000 = ₹149,000
- Investment after Day-1: ₹0 × 1000 = ₹0
- By the end of the listing session, investors faced a loss of -₹149,000 per lot.
📌 IPO Subscription Analysis
Despite achieving an overall subscription of 101.46×, supported by strong QIB demand of 94.94×, the IPO failed to convert healthy investor interest into positive listing returns. The stock debuted at 0.00% and closed at -100.00%, indicating weak post-listing confidence.
| Day | QIB | NNI | Retail | Total |
|---|---|---|---|---|
| Day 1 | 0x | 0.74x | 1.6x | 0.94x |
| Day 2 | 0x | 1.92x | 3.13x | 1.98x |
| Day 3 | 94.94x | 121.82x | 93.37x | 101.46x |
📌 Final Assessment
Overall Outcome: Average IPO
- Subscription Phase: High investor participation
- Listing Phase: Neutral listing performance
- Investor Experience: Negative short-term experience
IPO Financial Summary
- Total Assets changed by 175.17% in FY 2024-2025.
- Total Revenue changed by 394.58% in FY 2024-2025.
- Profit After Tax changed by 414.67% in FY 2024-2025.
- Reserves & Surplus changed by 275.49% in FY 2024-2025.
- Total Borrowings changed by 102.03% in FY 2024-2025.
| Metric | 2025-09-30 | 2025-03-31 | 2024-03-31 | 2023-03-31 |
|---|---|---|---|---|
| Total Assets (₹ Cr) | 147.67 | 99.94 | 36.32 | 13.85 |
| Total Revenue (₹ Cr) | 112.62 | 138.78 | 28.06 | 7.30 |
| Profit After Tax (₹ Cr) | 11.46 | 15.44 | 3.00 | 0.46 |
| Reserves & Surplus (₹ Cr) | 30.46 | 19.00 | 5.06 | 0.52 |
| Total Borrowings (₹ Cr) | 49.35 | 35.76 | 17.70 | 10.43 |
Utilisation of Proceeds
The Company proposes to utilise the net IPO proceeds of approximately ₹77.71 crore towards the following objectives:
| # | Purpose | Amount (₹ Cr) | % of Total |
|---|---|---|---|
| 1 | Funding capital expenditure of the company to purchase Plant and Machinery | 25.71 | 33.08% |
| 2 | Funding the working capital requirements of the company | 52.00 | 66.92% |
| Total | 77.71 | 100% | |
INDO SMC IPO Promoter Holding
| Promoter(s) | Mr. Nitin Jasvantbhai Patel, Mr. Neel Niteshbhai Shah, Mrs. Riktabahen Sonawala, Mr. Chaitanya Patel and Mr. Rachit Jain |
|---|---|
| Pre-Issue Holding | 82.30% |
| Post-Issue Holding | 60.07% |
INDO SMC Limited IPO FAQs
The INDO SMC Limited IPO is a SME Bookbuilding IPO with a total issue size of ₹91.95 crore. The issue consists of a fresh issue of ₹91.95 crore.
The IPO will open for subscription on Tue, 13 Jan 2026 and will close on Fri, 16 Jan 2026.
The shares are being offered at a price band of ₹141 to ₹149 per equity share.
Investors can apply for the IPO with a minimum lot size of 1,000 shares.
At the upper price band, the minimum investment required for one lot is approximately ₹298,000.
The shares of INDO SMC Limited are expected to be listed on BSE & SME on Wed, 21 Jan 2026.
The Grey Market Premium (GMP) of INDO SMC Limited IPO is ₹10.
The expected listing price of INDO SMC Limited IPO is around ₹159 based on current GMP. This indicates a potential return of approximately 6.71% , with an estimated profit of ₹10,000 per lot, subject to market conditions.
The INDO SMC Limited IPO was subscribed 102.39 times on the final day of subscription.
The retail portion is subscribed 93.37 times as of 16 Jan 2026.
The QIB portion is subscribed 94.94 times and the NII portion is subscribed 121.82 times .
The IPO registrar of INDO SMC Limited is KFin Technologies Limited. KFin is responsible for processing IPO applications, finalizing allotment, crediting shares, and initiating refunds.
The allotment date is expected on Mon, 19 Jan 2026.
Allotment status is generally updated in the evening (6 PM – 10 PM) on Mon, 19 Jan 2026 on the registrar or exchange website.
Shares are expected to be credited by Tue, 20 Jan 2026.
Refunds for unsuccessful applicants will be initiated on Tue, 20 Jan 2026.
Investors can check refund status via:
- UPI mandate / bank account (NACH, NEFT, RTGS)
- ASBA bank portal
INDO SMC Limited IPO is listed on BSE.
The current share price of INDO SMC Limited is ₹159.40. The stock opened at ₹164.00, hit a high of ₹166.00 and a low of ₹159.00.
INDO SMC Limited share price has decreased by ₹3.05 (1.88%) compared to the previous close. The stock has gained 6.98% from its listing price of ₹149.00 on BSE and gained 6.98% from its listing price of ₹149.00 on NSE.
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