The Indo SMC Ltd IPO is currently the center of attention in the booming SME market. As the subscription window closes on January 16, 2026, the company has witnessed an overwhelming response across all investor categories, signaling high confidence in this Ahmedabad-based electrical equipment manufacturer.
For Indian investors, the Indo SMC Ltd IPO represents an opportunity to invest in the critical power distribution and infrastructure sectors. Understanding the financials and the backing of marquee investors like Ashish Kacholia is vital for anyone tracking the SME space.
Section 1: Indo SMC IPO Snapshot and Key Numbers
Indo SMC is looking to raise approximately ₹91.95 crore through a 100% fresh issue of shares. Unlike many recent public offerings, there is no "Offer for Sale" (OFS), ensuring that all proceeds flow directly into the company’s growth initiatives.
- IPO Price Band: ₹141 – ₹149 per share
- Lot Size: 1,000 Shares (Min. Investment: ₹1,49,000 per lot)
- Listing Platform: BSE SME
- Major Backing: Notable investor Ashish Kacholia holds a pre-IPO stake of approximately 3.36%
Section 2: IPO Timeline and Important Dates
With the bidding period ending today, investors must stay alert regarding the allotment and listing schedule. Missing these dates can impact your liquidity management, especially given the high lot size of SME IPOs.
| Event | Tentative Date |
|---|---|
| Allotment Finalization | Monday, January 19, 2026 |
| Refund Initiation | Tuesday, January 20, 2026 |
| Credit of Shares to Demat | Tuesday, January 20, 2026 |
| Listing Date | Wednesday, January 21, 2026 |
The allotment status can be checked on the official website of the SEBI-registered registrar. Shares will be credited to successful applicants' demat accounts shortly after the finalization process.
Section 3: Business Profile and Financial Trajectory
Founded in 2021, Indo SMC has rapidly scaled to become a key player in the power distribution sector. They operate four manufacturing facilities across Gujarat, Maharashtra, and Rajasthan, serving both government utilities and private EPC firms.
The company’s financial performance shows explosive growth over the last three years, as detailed in the data below:
| Metric (₹ in Crores) | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Revenue | 7.30 | 28.06 | 138.78 |
| Profit After Tax (PAT) | 0.46 | 3.00 | 15.44 |
| Net Worth | 1.17 | 5.79 | 35.69 |
Revenue jumped nearly 5x between FY24 and FY25 alone. The company also boasts an impressive ROE of 74.45% and an ROCE of 31.39% for the fiscal year 2025.
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Frequently Asked Questions
What is the GMP for Indo SMC IPO?
As of the final hours of bidding, the Grey Market Premium (GMP) is hovering around ₹32. This suggests a potential listing price of ₹181, representing an estimated listing gain of ~21%.
Is Indo SMC IPO a mainboard or SME IPO?
This is an SME IPO listed on the BSE SME platform. SME IPOs typically have higher lot sizes and lower liquidity than mainboard IPOs, which investors should consider before bidding.
Who is the market maker for Indo SMC IPO?
Detailed information regarding the lead manager and market maker can be found in the Red Herring Prospectus (RHP) filed with the BSE.
Key Takeaways
- Strong Financials: PAT grew from ₹3 Cr to ₹15.44 Cr in a single year.
- Healthy Order Book: Over ₹283 crore in orders provides high revenue visibility.
- Investor Backing: Participation from HDFC Bank, 360 ONE, and Ashish Kacholia adds significant credibility.
Disclaimer
This article is for informational purposes only and does not constitute financial, tax, or legal advice. Investing in SME IPOs carries significant risk. Please consult a qualified professional before making decisions.
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