IPO of Ashish Kacholia-backed Indo SMC to Open on January 13, Sets Price Band at Rs 141 to Rs 149 Per Share

Established in 2021, Indo SMC Limited operates across three key verticals—Sheet Moulding Compound (SMC) products, Fibreglass Reinforced Plastic (FRP) products and electrical components, including current and potential Transformers. The company is poised for its initial public offering (IPO), with plans to raise INR 91.95 crores through the issuance of 61,71,000 fresh Equity shares.

For its SME Initial Public Offering (IPO), Indo SMC Limited has set a price band of Rs. 141 to Rs. 149 per share. The company's shares will open for subscription on Tuesday, January 13, 2026 and close on Friday, January 16, 2026. These will be listed on the BSE SME, with a tentative listing date of Wednesday, January 21, 2026.

The issue is backed by renowned Indian equity investor Ashish Kacholia, who holds 3.36 per cent, underscoring strong investor confidence in the company’s growth strategy, execution capabilities and business fundamentals.

GYR Capital Advisors Pvt Ltd is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Makers of the company are Giriraj Stock Broking Pvt Ltd, Nikunj Stock Brokers Ltd. The proceeds will be utilised to meet the capital expenditure of the company to purchase Plant and Machinery, fund working capital requirements and general corporate purposes.

On Monday, January 19, 2026, the shares for the Indo SMC IPO are anticipated to be allotted and on Tuesday, January 20, 2026, the shares will be credited to the demat account of the allottees. The IPO comprises a total of 61,71,000 shares, out of which 3,09,000 are reserved for market makers. Out of the net issue of 58,62,000 shares 29,28,000 (49.94 per cent) allocated to QIB, out of the QIB portion up to 17,56,000 (29.95 per cent), 11,72,000 (19.99 per cent) allocated to Net QIB, 8,82,000 (15.04 per cent) allocated to NII  20,52,000 (35.00 per cent) allocated to RII.

Retail investors need to contribute a minimum of Rs 2,98,800, considering the minimum two-lot size for an application is 2000 shares. For HNIs, the minimum bidding size is three lots, or 3000 shares, for a total investment of Rs 4,47,000 at the upper price band.

In FY25, the company reported Total Income of Rs 13,877.92 lakh with a Profit After Tax (PAT) of Rs 1,544.09 lakh, underscoring strong operating leverage and profitability. For the half year ended September 30, 2025, Indo SMC achieved Total Income of Rs 11,261.89 lakh and PAT of Rs 1,145.51 lakh, demonstrating continued growth momentum and margin stability.

The company had an Order Book of Rs 11,166.50 lakh as on November 30, 2025. The company caters to power distribution, infrastructure and industrial applications, with a presence across more than 20 Indian states and a growing export footprint. Indo SMC is an approved vendor with multiple State Electricity Boards, DISCOMs and government utilities.

Indo SMC operates state-of-the-art manufacturing facilities in Ahmedabad, Nashik and Rajasthan, supported by in-house R&D, testing capabilities and in-house mould development and tooling facilities. This integrated manufacturing approach enables faster product development cycles, better quality control and reduced dependence on third-party vendors.

Disclaimer: The article is for informational purposes only and not investment advice.