Indo SMC’s upcoming SME IPO is creating a lot of buzz among investors.
One big reason is the presence of well-known investor Ashish Kacholia, who already holds a stake in the company.
This has boosted market confidence and made the issue more attractive.
The IPO will open on January 13 and close on January 15.
It is a ₹91.95 crore fresh issue, and the shares are expected to be listed on the BSE SME platform on January 20.
IPO Details and Why Investors Are Interested
Indo SMC will issue around 62 lakh new shares through this IPO.
Since it is a fresh issue, all the money raised will go directly to the company.
Ashish Kacholia owns about 3.36% stake in Indo SMC.
His involvement is being seen as a positive signal, especially for retail investors who often track seasoned investors’ moves.
Strong Buzz in the Grey Market
The grey market is showing strong interest in this IPO.
Indo SMC’s GMP is currently around ₹31, which is nearly 21% higher than the upper price band of ₹149.
Based on this, the stock is expected to list near ₹180.
A high GMP usually indicates good listing expectations, but investors should remember that grey market trends are only indicators, not guarantees.
What Does Indo SMC Do?
Indo SMC operates in multiple industrial segments.
The company manufactures Sheet Molding Compound (SMC), Fiberglass Reinforced Plastic (FRP) products, and electrical equipment like current and potential transformers.
Its products are widely used in power distribution, infrastructure, and industrial projects.
The company has operations in over 20 states across India and is also slowly expanding into export markets.
Indo SMC is an approved vendor for several state electricity boards, DISCOMs, and government bodies, which adds stability to its business.
Financial Performance and Future Growth
The company’s financials show steady growth. In FY25, Indo SMC reported revenue of ₹138.78 crore and a net profit of ₹15.44 crore.
In the first half of FY26 (up to September 2025), revenue stood at ₹112.62 crore with a profit of ₹11.46 crore.
As of November 2025, the company’s order book was ₹111.67 crore, indicating strong future revenue visibility.
The IPO funds will be used for new machinery, working capital needs, and general corporate purposes.
Should Investors Take Note?
With solid financials, a healthy order book, strong grey market signals, and backing from a reputed investor, Indo SMC’s SME IPO is drawing serious attention.
While SME IPOs carry higher risk, this issue stands out due to its business stability and growth potential.
Investors should still evaluate their risk appetite before investing, but Indo SMC is clearly one of the most talked-about SME IPOs of the moment.
