INDO SMC IPO Description – INDO SMC engaged in the design, development, and manufacturing of diversified electrical, industrial, and infrastructural products. Its core product portfolio includes enclosure boxes for energy meters, high and low-tension current transformers (HTCT, LTCT), potential transformers (HTPT), LT/HT distribution boxes, panels, FRP (Fiberglass Reinforced Plastic) gratings, junction boxes, feeder pillars, bus ducts, and other power distribution and circuit protection switchgears. The company utilizes advanced materials such as Sheet Moulding Compounds (SMC), FRP, copper, mild steel, and stainless steel, with all products tested in in-house laboratories to ensure compliance with Indian Standards (IS:13410 and IS:14772).
INDO SMC operates four manufacturing facilities across Gujarat, Maharashtra, and Rajasthan, with its Ahmedabad unit specializing in SMC and FRP products supported by advanced machinery for efficient, large-scale production. Its business is structured into three major divisions: (i) SMC Division – manufacturing meter boxes, SMC sheets, and chequered plates; (ii) FRP Division – manufacturing pultruded products, gratings, and storage tanks; and (iii) Electrical Components Division – producing transformers, feeder pillars, and switchgears.
In FY 2025, revenue was primarily driven by SMC boxes (49.06% of total), FRP gratings (21.24%), and bus ducts (7.66%). Geographically, Gujarat accounted for 64.30% of sales, followed by Maharashtra at 17.71%, while the company also initiated export sales, contributing 0.44%. As of 33 November 2025, the company had a total workforce of 332 employees, comprising 74 on-roll employees and 258 contractual employees.
Promoters of INDO SMC – Mr. Nitin Jasvantbhai Patel, Mr. Neel Niteshbhai Shah,Mrs. Riktabahen Sonawala, Mr. Chaitanya Patel and Mr. Rachit Jain
Table of Contents
INDO SMC IPO Details
| INDO SMC IPO Dates | 13 – 15 January 2026 |
| INDO SMC Issue Price | INR 141 – 149 per share |
| Fresh Issue | 61,71,000 shares (INR 87.01 – 91.95 crore) |
| Offer For Sale | Nil |
| Total IPO Size | 61,71,000 shares (INR 87.01 – 91.95 crore) |
| Minimum Bid | 2,000 shares (INR 2,98,000) |
| Lot Size | 1,000 shares (INR 1,49,000) |
| Face Value | INR 10 per share |
| Individual Allocation | 35% |
| Listing On | BSE SME |
INDO SMC Financial Performance
| FY 2023 | FY 2024 | FY 2025 | H1 FY 2026 | |
| Revenue | 7.30 | 28.03 | 138.69 | 112.54 |
| Expenses | 6.66 | 24.37 | 119.67 | 98.58 |
| Net income | 0.46 | 3.00 | 15.44 | 11.46 |
INDO SMC Offer News
- INDO SMC RHP
- INDO SMC Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- Highest SME IPO Subscription in 2025
INDO SMC Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 | |
| EPS | 0.33 | 2.19 | 9.61 |
| PE ratio | – | – | 14.67 – 15.51 |
| RONW (%) | 38.87 | 51.83 | 43.27 |
| NAV | 0.86 | 3.77 | 21.39 |
| ROCE (%) | 7.97 | 20.71 | 31.39 |
| EBITDA (%) | 15.83 | 18.12 | 16.45 |
| Debt/Equity | 8.90 | 3.05 | 1.00 |
INDO SMC IPO GMP Today
| Date | Consolidated IPO GMP | Subject to Sauda |
| Coming soon | – | – |
INDO SMC IPO Subscription – Live Updates
Coming soon
The market maker reservation portion of 3,09,000 shares and the anchor investor portion of 17,56,000 shares are not included in the above calculations.
INDO SMC IPO Allotment Status
INDO SMC IPO allotment status will be available on the KFin Tech website. Click on this link to get the allotment status.
INDO SMC IPO Dates & Listing Performance
| IPO Opening Date | 13 January 2026 |
| IPO Closing Date | 15 January 2026 |
| Finalization of Basis of Allotment | 16 January 2026 |
| Initiation of refunds | 19 January 2026 |
| Transfer of shares to demat accounts | 19 January 2026 |
| IPO Listing Date | 20 January 2026 |
| Opening Price on BSE SME | Coming soon |
| Closing Price on BSE SME | Coming soon |
INDO SMC Offer Lead Manager
GYR CAPITAL ADVISORS PRIVATE LIMITED
428, Gala Empire, Near JB Tower, Drive in Road,
Thaltej, Ahmedabad -380 054
Phone: +91 8777564648
Email: [email protected]
Website: www.gyrcapitaladvisors.com
INDO SMC Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032
Tel: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com
INDO SMC Contact Details
INDO SMC LIMITED
809, Shilp Zaveri, Shyamal Cross Road,
Vejalpur, Shyamal, Ahmedabad 380006
Phone: +91 7575812866
E-mail: [email protected]
Website: www.indosmc.com
IPO FAQs
What is the INDO SMC offer size?
INDO SMC offer size is INR 87.01 – 91.95 crores.
What is the INDO SMC offer price band?
INDO SMC public offer price is INR 141 – 149 per share.
What is the lot size of the INDO SMC IPO?
INDO SMC offer lot size is 1,000 shares.
What is the INDO SMC IPO GMP today?
INDO SMC IPO GMP today is INR NA per share.
What is the INDO SMC kostak rate today?
INDO SMC kostak rate today is INR NA per application.
What is the INDO SMC IPO Subject to Sauda rate today?
INDO SMC Subject to Sauda rate today is INR NA per application.