Indo SMC's IPO Takes Off with Strong Interest from Investors

Indo SMC's IPO was fully subscribed on its first day, with strong interest from individual and non-institutional investors. Anchor investors, including HDFC Bank and 360 ONE Group, contributed Rs 26.16 crore. Proceeds will support capital expenditure and working capital needs, with shares listing on January 21.

Indo SMC, an emerging manufacturer in infrastructural applications, successfully launched its initial public offering (IPO) with full subscription on its debut day. The IPO attracted significant interest, particularly among individual investors, who subscribed to 1.6 times the shares offered.

The initial public offering by this Ahmedabad-based company includes a fresh issue of equity shares valued at Rs 91.95 crore and aims to finance the acquisition of new plant and machinery, enhance working capital, and meet general corporate objectives. As of Monday, the IPO had already garnered Rs 26.16 crore from anchor investors, including HDFC Bank and 360 ONE Group.

The company's financial figures reflect a robust income of Rs 138.78 crore with a profit of Rs 15.44 crore in fiscal year 2025. With shares set to be listed on BSE SME on January 21, Indo SMC is deciding its share price within a range of Rs 141-149 each.

(With inputs from agencies.)