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Corporate Actions
BSE SME INDO SMC makes a calm debut

21-Jan-26   14:46 Hrs IST
The scrip was listed at Rs 149, matching the initial public offer (IPO) price. The stock is currently up 2.85% over its listing price.

The counter hit a high of Rs 156 and a low of Rs 141.55. About 30.81 lakh shares of the company changed hands at the counter.

Indo SMC's IPO was subscribed 102.83 times. The issue opened for bidding on 13 January 2026 and it closed on 16 January 2026. The price band of the IPO was fixed between Rs 141 to Rs 149 per share.

The IPO comprised a fresh issue of 44,15,000 equity shares. The promoter and promoter group shareholding diluted to 69.49% from 100% pre-issue.

The company will utilize the net proceeds for funding capital expenditure to purchase plant and machinery and working capital requirements.

Ahead of the IPO, Indo SMC on 12 January 2026, the company raised Rs 26.16 crore from anchor investors, by allotting 17.56 lakh shares at Rs 149 each to 17 anchor investors.

Indo SMC is engaged in diversified manufacturing activities comprising the Sheet Moulding Compound (SMC) Division for energy meter enclosure boxes, SMC sheets, and SMC chequered plates; the Fiberglass Reinforced Plastic (FRP) division for grating plates; and the Electrical Components division for HTCTs, HTPTs, LTCTs, feeder pillars, and related power distribution and protection switchgear. The company employed 332 personnel as of 30 November 2025.

The company recorded revenue from operations of Rs 112.54 crore and net profit of Rs 11.45 crore for the period ended 30 September 2025.

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