INDO SMC IPO day 1: The initial public offering (IPO) of INDO SMC opened for public subscription on Tuesday, January 13. The SME IPO is witnessing decent buying interest, while the grey market is indicating the stock can list at a premium of over 24%. Meanwhile, INDO SMC said it had raised ₹26.2 crore from anchor investors by allocating 17.56 lakh shares at a price of ₹149 per share ahead of the IPO.
INDO SMC IPO GMP
According to grey market sources, the GMP of INDO SMC shares was ₹36 on Tuesday. This indicates the SME stock could list at a premium of 24.2% at ₹185 on the BSE SME.
INDO SMC IPO subscription status
By 10:35 am on Tuesday, the SME IPO had seen an overall subscription of nearly 0.15 times, with the retail portion booked 0.21 times, and the segment reserved for NIIs subscribed to 0.17 times. QIB’s portion had not seen any subscription till that time.
INDO SMC IPO details
1. INDO SMC IPO date: The SME IPO opened for subscription on Tuesday, January 13, and will close on Friday, January 16.
2. INDO SMC IPO price: The price band of the public issue has been fixed at ₹141 to ₹149 per equity share.
3. INDO SMC IPO objects: According to the Red Herring Prospectus (RHP), the company will use the net proceeds from the issue to purchase plant and machinery, to meet working capital requirements, and for general corporate purposes.
4. INDO SMC IPO size: The BSE SME IPO is a fresh issue of 61.71 lakh shares of face value of ₹10 each to raise ₹91.95 crore. There is no offer for sale (OFS) portion in the issue.
5. INDO SMC IPO lot size: Retail investors can bid for a minimum and maximum of 2,000 shares.
6. INDO SMC IPO reservation: The biggest chunk of the issue has been offered to QIBs. They have been offered 29.28 lakh shares (47.45% of the net issue). Retail investors have been offered 20.52 lakh shares (33.25%), and NIIs have been offered 8.82 lakh shares (14.29%).
7. INDO SMC IPO allotment date: The company is expected to finalise the share allotment on Monday, January 19. Successful bidders can expect shares of the company in their demat accounts on the next business day on Tuesday, January 20, and bidders who fail to get the allocation may get a refund on the same day.
8. INDO SMC IPO book-running lead manager and registrar: According to the issue’s RHP, GYR Capital Advisors Private Limited is the book-running lead manager, and KFIN Technologies Limited is the registrar of the INDO SMC IPO.
9. INDO SMC IPO listing: The IPO is proposed for listing on the BSE SME on Wednesday, January 21.
10. INDO SMC business overview: As per the RHP, the company is mainly engaged in the design and manufacturing of enclosure box for energy meters, high tension current transformer, high tension potential transformer, low tension current transformer, LT/HT distribution boxes and panels, fiberglass reinforced plastic grating, junction boxes, feeder pillars and other power distribution and circuit protection switchgears.
For FY23, the company’s profit was ₹0.46 crore, which rose to ₹3 crore in FY24 and to ₹15.4 crore in FY25.
Revenue from operations in FY23, FY24, and FY25, stood at ₹7.3 crore, ₹28 crore, and ₹138.7 crore, respectively.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
