Ashish Kacholia-backed Indo SMC IPO to open on January 13. Check GMP, price band, other key details

Ace investor Ashish Kacholia-backed Indo SMC’s Rs 91.95 crore SME IPO will open for subscription on January 13 and close on Thursday, January 15. The issue is a pure fresh offering of 62 lakh shares, with the stock scheduled to list on the BSE SME platform on Tuesday, January 20.

Ashish Kacholia holds a 3.36% stake in the company. Indo SMC operates across key verticals including sheet moulding compound (SMC) products, fiberglass reinforced plastic (FRP) products, and electrical components such as current and potential transformers.

The latest grey market premium (GMP) for Indo SMC stands at Rs 31, implying a premium of around 21% over the upper price band of Rs 149. Based on this GMP, the IPO is expected to list at around Rs 180 per share.

The healthy GMP indicates positive sentiment in the unofficial market and suggests that investors are anticipating a strong listing performance. However, it is important to note that GMP is only an indicative measure of market sentiment, and actual listing prices may vary depending on broader market conditions and demand on the listing day.

The allotment for the Indo SMC IPO is expected to be finalised on Friday, January 16, 2026, while shares are likely to be credited to the demat accounts of successful applicants on Monday, January 19, 2026.

The proceeds from the issue will be used to fund capital expenditure for the purchase of plant and machinery, meet working capital requirements, and support general corporate purposes.

Indo SMC reported total income of Rs 138.78 crore and a profit after tax of Rs 15.44 crore in FY25, underscoring strong operating leverage and robust profitability. For the half year ended September 30, 2025, the company recorded total income of Rs 112.62 crore and a PAT of Rs 11.46 crore, reflecting sustained growth momentum and stable margins.

As of November 30, 2025, the company’s order book stood at Rs 111.67 crore, providing healthy revenue visibility going forward.

The company caters to power distribution, infrastructure, and industrial applications, with operations spanning more than 20 Indian states and a growing export footprint. Indo SMC is an approved vendor for multiple customers, including state electricity boards, DISCOMs, and government utilities.

Indo SMC operates manufacturing facilities located in Ahmedabad, Nashik, and Rajasthan, supported by in-house research and development, testing capabilities, as well as internal mould development and tooling facilities.

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