INDO SMC IPO Opens Jan 13 With Strong ₹31 GMP

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AuthorIshaan Verma|Published at:
INDO SMC IPO Opens Jan 13 With Strong ₹31 GMP
Overview

INDO SMC's maiden public offering opens January 13, aiming to raise ₹91.95 crore. Unofficial markets show strong demand, with grey market premiums (GMP) reaching ₹31 per share, reflecting a 20.81% premium over the ₹149 upper price band. The company plans to use proceeds for plant and machinery upgrades and working capital needs. Subscription closes January 15, 2025.

INDO SMC IPO Opens January 13

INDO SMC's initial public offering (IPO) is set to launch on Tuesday, January 13, 2025, with plans to raise ₹91.95 crore through its maiden share sale. Early indicators from the grey market suggest robust investor sentiment.

Grey Market Buzz

Unofficial market data indicates a strong premium for INDO SMC's unlisted shares. As of Friday, these shares traded at ₹180 apiece, translating to a grey market premium (GMP) of ₹31 per share. This represents a significant 20.81% premium over the IPO's upper price band of ₹149 per share.

IPO Structure and Allocation

The share sale comprises an entirely fresh issue of 6.2 million equity shares, totaling ₹91.95 crore, with no offer-for-sale component. The allocation is spread across qualified institutional buyers (QIBs), non-institutional investors (NIIs), retail individual investors (RIIs), and anchor investors.

Pricing and Subscription Details

The IPO is priced between ₹141 and ₹149 per share. Investors can bid for a minimum of 2,000 shares, requiring ₹2,98,000 at the upper price band. The subscription window will close on Thursday, January 15, 2025.

Timeline and Listing

Allotment is expected by Friday, January 16, 2025, with shares likely credited to demat accounts by Monday, January 19, 2025. Trading on the BSE SME platform is tentatively scheduled to commence on Tuesday, January 20, 2025.

Use of Funds

Proceeds from the offering will be directed towards funding capital expenditure for plant and machinery. Remaining funds will support working capital requirements and general corporate purposes.

Company Operations

INDO SMC specializes in manufacturing enclosure boxes for energy meters, transformers, and various power distribution switchgear using materials like SMC and FRP.

Financial Performance

For the fiscal year 2023-24, INDO SMC reported revenue of ₹28.03 crore and a profit after tax of ₹3 crore. Nine months ended September 30, 2025, saw revenue reach ₹112.54 crore with a profit of ₹11.46 crore.

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