INDO SMC IPO Allotment Status, GMP, and Listing Details 2026

Introduction to INDO SMC IPO

The subscription period for the INDO SMC Limited Initial Public Offering (IPO) has officially closed. The SME IPO, which aims to raise approximately ₹92.00 crore, garnered significant interest from retail and non-institutional investors. With the subscription window now shut, applicants are focused on the next steps: checking their allotment status, tracking the Grey Market Premium (GMP), and preparing for the company's stock market debut. The basis of allotment is scheduled to be finalized on January 16, 2026, with the company's shares set to be listed on the BSE SME platform on January 20, 2026.

IPO Subscription Figures

The IPO saw a healthy response from investors, particularly in the retail and NII categories. According to the final data recorded on January 14, 2026, the issue was subscribed approximately 1.98 times overall. The Retail Individual Investors (RII) portion was oversubscribed by 3.13 times, while the Non-Institutional Investors (NII) category received bids for 1.92 times the shares reserved for them. The Qualified Institutional Buyers (QIB) category did not see any subscription. This robust participation from retail investors indicates strong interest in the company's growth prospects.

Key IPO Details and Structure

The INDO SMC IPO is a book-building issue comprising a fresh issue of 6,171,000 equity shares. The price band for the issue was set at ₹141 to ₹149 per share, with a face value of ₹10 each. For retail investors, the minimum application size was one lot of 1,000 shares, requiring an investment of ₹149,000 at the upper end of the price band. The company plans to utilize the net proceeds from the IPO for capital expenditure towards purchasing plant and machinery, funding working capital requirements, and for general corporate purposes.

Important Dates for Investors

Investors should keep track of the following timeline for post-subscription events. The allotment of shares will be finalized soon, followed by refunds for non-allottees and the credit of shares to the demat accounts of successful applicants.

Grey Market Premium (GMP) Analysis

The Grey Market Premium (GMP) for the INDO SMC IPO has shown a positive trend, reflecting investor sentiment ahead of its listing. As of January 16, 2026, the GMP stands at ₹32 per share. This suggests that the shares are trading at a premium of approximately 21.48% over the upper issue price of ₹149 in the unofficial market. Based on this GMP, the estimated listing price is around ₹181 per share. The GMP has fluctuated in a range of ₹25 to ₹36 in the days leading up to the allotment, indicating sustained interest.

Company Financial Performance

INDO SMC Limited, incorporated in 2021, has demonstrated rapid growth in its financial performance. The company's revenue has surged from ₹7.3 crore in FY2023 to ₹138.78 crore in FY2025. This significant top-line growth highlights the company's ability to scale its operations effectively in the industrial and allied components manufacturing sector. The company's assets and net worth have also grown in tandem, reflecting a strengthening balance sheet.

About INDO SMC Limited

INDO SMC Limited is a manufacturing company that supplies a range of industrial and allied components primarily to domestic customers. The company focuses on quality manufacturing and timely delivery, supported by an experienced team of promoters. Its product portfolio serves various applications in the electrical, industrial, and infrastructure sectors. The company operates with a lean cost structure, which allows it to maintain competitive pricing and healthy margins. Post-IPO, the promoter holding in the company will be diluted from 82.30% to 60.07%.

How to Check Allotment Status

Investors who applied for the IPO can check their allotment status online on January 16, 2026, through the official registrar's website, KFin Technologies Limited. To check the status, applicants will need their PAN number, application number, or DP ID. If shares have been allotted, they will be credited to the investor's demat account by January 19, 2026. For those who were not allotted shares, the refund process will also be initiated on the same day.

Conclusion

With the subscription process complete, all eyes are now on the INDO SMC IPO's allotment and listing. The strong retail subscription and positive Grey Market Premium suggest a potentially favorable debut on the BSE SME platform on January 20, 2026. Investors should monitor the allotment status and prepare for the listing, keeping in mind the company's strong growth trajectory and the inherent risks associated with SME investments.