Final hours! INDO SMC IPO ends today; check latest subscription status, GMP

INDO SMC IPO Day 3 update:  The three-day subscription window for the Initial Public Offering (IPO) of INDO SMC, valued at ₹91.95 crore, is set to conclude today, January 16. The public issue, which opened for subscription on January 13, has received an overwhelming response from investors, with the issue being oversubscribed by over 17 times.

 

Offered at a price band of ₹141-149 per share and with a lot size of 1,000 shares, the INDO SMC IPO has attracted bids for 7,57,67,000 shares, against the 44,15,000 shares on offer. As of 12:20 PM on Friday, the issue was oversubscribed by 17.16 times, according to data from the Bombay Stock Exchange.

 

 

Among the categories of investors, non-institutional investors (NIIs) led the demand for the public offering, oversubscribing their reserved portion by 21.95 times. Retail investors closely followed, with their category oversubscribed by 18.29 times. Qualified institutional buyers (QIBs), while showing the least interest compared to other categories, still oversubscribed their portion by 10.31 times.

 

The favourable sentiment surrounding the IPO extended to the grey market as well, where unlisted shares of INDO SMC were commanding a solid premium. On Friday, the shares were trading at ₹181 each, reflecting a grey market premium (GMP) of ₹32 per share, or 21.48 per cent higher than the upper end of the issue price band of ₹149 per share, as per sources tracking unofficial market activities.  ALSO READ | Amagi Media IPO closes today; subscription lags at 13%, GMP 7%

INDO SMC IPO details

The maiden public offering of INDO SMC consists of a fresh issue of 6.2 million equity shares, valued at ₹91.95 crore. The issue does not include any Offer for Sale (OFS) component, as per the company’s Red Herring Prospectus (RHP).

 

The price band for the IPO has been set at ₹141 to ₹149 per share, with a lot size of 1,000 shares. Investors can bid for a minimum of 2,000 shares and in multiples of 100 shares thereafter. Retail investors will need ₹2,98,000 to bid for the minimum 2,000 shares.

 

As per the company’s RHP, the proceeds from the offering will be used to fund the capital expenditure required to purchase plant and machinery. The remaining funds will be redeployed to meet working capital requirements and for general corporate purposes.

 

KFIN Technologies is the registrar of the issue, and GYR Capital Advisors is the sole book-running lead manager.  ALSO READ | Shadowfax Tech IPO opens Jan 20: 5 key strengths investors must know

INDO SMC IPO allotment date, listing date 

With the public issue closing for subscription today, the basis of allotment of INDO SMC IPO shares if expected to be finalised by Friday, January 16, 2025. The successful applicants can expect the shares to be credited to their demat accounts by Monday, January 19, 2026. 

 

Shares of INDO SMC are slated to list on the BSE SME platform tentatively on Tuesday, January 20, 2026.