New Delhi, 13 January (H.S.): Indo SMC, a manufacturer of electrical products for the industrial sector, launched its ₹91.95 crore IPO for subscription today, Tuesday. Bids can be placed until January 16, with share allotment scheduled for January 19 and credited to demat accounts on January 20. The company's shares are set to list on the BSE SME platform on January 21.

The IPO features a price band of ₹141 to ₹149 per share, with a lot size of 1,000 shares. Retail investors can bid for up to two lots, or 2,000 shares, requiring a minimum investment of ₹2,98,000. This fresh issue comprises 61.71 lakh equity shares of ₹10 face value each.

On January 12, one trading day before the public opening, Indo SMC raised ₹26.16 crore from 11 anchor investors. Bengal Finance and Investment Private Limited emerged as the largest, acquiring 3.05 lakh shares at the upper price limit of ₹149 per share. 360 ONE LVF Treasury Solutions Fund followed as the second-biggest anchor, purchasing 1.18 lakh shares.

Allocation reserves 47.45% for Qualified Institutional Buyers (QIBs), 33.25% for retail investors, 14.29% for Non-Institutional Investors (NIIs), and 5.01% for market makers. GYR Capital Advisors Private Limited serves as the book-running lead manager, KFIN Technologies Limited as registrar, with Giriraj Stock Broking Private Limited and Nikunj Stock Brokers Limited as market makers.

Financials disclosed in the Draft Red Herring Prospectus (DRHP) filed with SEBI show steady strengthening. Net profit rose from ₹46 lakh in FY23 to ₹3 crore in FY24 and surged to ₹15.44 crore in FY25. For H1 FY26 (April-September 2025), profit reached ₹11.46 crore.

Revenue grew consistently from ₹7.30 crore in FY23 to ₹28.06 crore in FY24 and ₹138.78 crore in FY25. H1 FY26 revenue stood at ₹112.62 crore.

Debt levels increased from ₹10.43 crore at FY23-end to ₹17.70 crore in FY24, ₹35.76 crore in FY25, and ₹49.35 crore by September 30, 2025.Reserves and surplus expanded from ₹52 lakh in FY23 to ₹5.06 crore in FY24, ₹19 crore in FY25, and ₹30.46 crore in H1 FY26.

EBITDA climbed from ₹1.15 crore in FY23 to ₹5.08 crore in FY24, ₹22.83 crore in FY25, and ₹17.19 crore in H1 FY26.

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Hindusthan Samachar / Jun Sarkar