INDO SMC IPO
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INDO SMC IPO details
Schedule of INDO SMC
| Issue open date | 13 Jan 2026 |
| Issue close date | 15 Jan 2026 |
| UPI mandate deadline | 15 Jan 2026 (5 PM) |
| Allotment finalization | 16 Jan 2026 |
| Refund initiation | 19 Jan 2026 |
| Share credit | 19 Jan 2026 |
| Listing date | 20 Jan 2026 |
| Mandate end date | 30 Jan 2026 |
| Lock-in end date for anchor investors (50%) | 13 Feb 2026 |
| Lock-in end date for anchor investors (remaining) | 14 Apr 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About INDO SMC
Indo SMC Limited was incorporated in September 2021 in Ahmedabad, Gujarat, and was converted into a public limited company in August 2024. The Company is promoted by Mr Nitin Jasvantbhai Patel, Mr Neel Niteshbhai Shah, Ms Riktabahen Sonawala, Mr Chaitanya Patel and Mr Rachit Jain. The Company operates in the composite materials and electrical equipment space. Its business spans three key divisions. The Sheet Moulding Compound (SMC) division manufactures energy meter enclosure boxes, SMC sheets and chequered plates. The Fibreglass Reinforced Plastic (FRP) division produces moulded gratings and customised industrial products. The electrical components division manufactures current and potential transformers, feeder pillars and related power distribution equipment. Indo SMC follows an integrated manufacturing model with in-house testing and quality control. Its products cater to utilities, infrastructure and industrial customers. The Company’s strengths include compliance with relevant Indian standards, customised product capability, and a diversified product portfolio serving growing power and infrastructure sectors.
Financials of INDO SMC
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Total issue size | 91.95 |
| Fresh Issue – Proceeds go to the company | 91.95 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure (Plant & Machinery) | 25.71 (27.96%) |
| Working capital requirements | 52 (56.55%) |
| General corporate purposes | 14.24 (15.49%) |
Strengths
- Diversified product portfolio across SMC, FRP and electrical components.
- Presence in power distribution and infrastructure-linked end markets.
- In-house manufacturing and testing capabilities ensure quality control.
- Compliance with relevant Indian standards and quality certifications.
- Experienced promoter group with operational and industry expertise.
Risks
- Business depends on demand from power utilities and infrastructure projects.
- High working capital needs may pressure cash flows.
- Revenue concentration with a limited number of customers.
- Raw material price volatility can impact margins.
- No prior public trading history of the company’s equity shares.