What Is the INDO SMC IPO?
The INDO SMC IPO refers to the initial public offering of Indo SMC Ltd, a company engaged in designing and manufacturing electrical enclosure boxes, transformer components, and power distribution and circuit protection equipment.
INDO SMC operates in the electrical and power infrastructure segment, supplying products used in energy metering, power distribution, and industrial electrical systems. The IPO is part of the company’s plan to expand operations and strengthen its balance sheet.
INDO SMC IPO Dates – Open, Close & Listing Schedule
INDO SMC IPO Important Dates
| Event | Date |
|---|---|
| IPO Open Date | 13 January 2026 |
| IPO Close Date | 16 January 2026 |
| Basis of Allotment | 19 January 2026 (Tentative) |
| Refund Initiation | To be announced |
| Shares Credit to Demat | To be announced |
| Tentative Listing Date | 21 January 2026 |
The INDO SMC IPO bidding dates are from 13 Jan ’26 to 16 Jan ’26.
INDO SMC IPO Price Band, Lot Size & Minimum Investment
Price & Investment Details
| Particular | Details |
|---|---|
| Price Band | ₹141 – ₹149 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,000 shares |
| Minimum Investment | ₹2,82,000 (approx.) |
Retail investors must apply for at least one lot (1,000 shares).
INDO SMC IPO Size & Issue Details
| Particular | Details |
|---|---|
| Issue Size | ₹91.95 crore |
| Issue Type | To be detailed in RHP |
| IPO Document | RHP (Red Herring Prospectus) |
| Listing Exchange | NSE / BSE (expected) |
The IPO size indicates a small-to-mid-cap public issue, suitable for investors tracking emerging manufacturing companies.
About INDO SMC Ltd
Indo SMC Ltd designs and manufactures a wide range of electrical and power distribution products, including:
- Enclosure boxes for energy meters
- High-tension current and potential transformers (HTCT, HTPT)
- Low-tension current transformers (LTCT)
- LT/HT distribution boxes and panels
- Junction boxes and feeder pillars
- FRP gratings
- SMC sheets and chequered plates
Manufacturing Footprint
The company operates four manufacturing facilities across:
- Gujarat
- Maharashtra
- Rajasthan
Including units in Ahmedabad and Nashik (Maharashtra).
Company Profile
| Particular | Details |
|---|---|
| Founded In | 2021 |
| MD & CEO | Mr. Neel Niteshbhai Shah |
| Parent Organisation | Indo SMC Ltd |
INDO SMC Financial Performance – Year-by-Year
Revenue, EBITDA & Profit After Tax
| Financial Year | Revenue (₹ Cr) | EBITDA (₹ Cr) | PAT (₹ Cr) |
|---|---|---|---|
| FY22 | 108.6 | 9.8 | 2.9 |
| FY23 | 132.4 | 11.6 | 4.1 |
| FY24 | 158.2 | 14.3 | 6.2 |
Financial Analysis
- Consistent revenue growth
- Improving EBITDA margins
- Steady rise in profitability
- Manufacturing-led operating leverage is visible
The year-by-year profit trend strengthens the overall outlook of the INDO SMC IPO.
INDO SMC IPO Review – Strengths & Risks
Key Strengths
- Presence in the power and electrical infrastructure segment
- Diverse product portfolio
- Multiple manufacturing locations
- Improving financial performance
Key Risks
- Working-capital-intensive business
- Dependence on infrastructure and power sector demand
- Exposure to raw material price volatility
INDO SMC IPO GMP
The INDO SMC IPO GMP (Grey Market Premium) will be available closer to the IPO opening date. GMP is an unofficial indicator of market sentiment and should not be treated as guaranteed listing performance.
INDO SMC IPO Listing Price Expectations
The INDO SMC IPO listing price will depend on:
- Final subscription numbers
- Market conditions during listing week
- Institutional and HNI participation
The stock may list at a premium, discount, or flat relative to the issue price.
INDO SMC IPO – Key Highlights
- IPO opens on 13 January 2026
- Price band: ₹141 – ₹149
- Lot size: 1,000 shares
- Issue size: ₹91.95 crore
- Tentative listing: 21 January 2026
- Operates in the power and electrical manufacturing sector
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