Mumbai, January 16, 2026 – Indo SMC Limited (BSE SME: INDOSMC) entered the final day of its IPO subscription on Friday with steady demand and a stable grey market premium, even as overall subscription crossed the 2x mark by mid-morning.
The SME issue, priced in the range of ₹141 to ₹149 per share, closes for subscription today, January 16.
IPO Subscription Status (as of 10:41 AM, January 15)
As per BSE data, the IPO was subscribed 2.07 times overall, with strong participation from retail and non-institutional investors, while the QIB portion remained unsubscribed.Category-wise Subscription Details
Retail investors continued to anchor the demand, subscribing their portion over three times, while non-institutional investors also showed healthy interest.| Investor Category | Shares Reserved | Applications Received | Shares Bid For | Subscription (Times) |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 11,72,000 | – | – | 0.00 |
| Non-Institutional Investors (Total) | 11,91,000 | 362 | 23,13,000 | 1.94 |
| NII – Above ₹10 lakh | 5,88,000 | 187 | 17,33,000 | 2.95 |
| NII – Up to ₹10 lakh | 2,94,000 | 175 | 5,80,000 | 1.97 |
| Retail Individual Investors | 20,52,000 | 3,403 | 68,06,000 | 3.32 |
| Total | 44,15,000 | 3,765 | 91,19,000 | 2.07 |
Grey Market Premium Steady on Closing Day
The grey market premium (GMP) for Indo SMC SME IPO stood at ₹32 per share on Friday morning, unchanged from the previous sessions.At the upper price band of ₹149, the implied listing price is estimated at ₹181, indicating a potential upside of about 21.5 percent.
Indo SMC SME IPO Day-wise GMP Trend
| Bid Price (₹) | Quantity Bid |
|---|---|
| 141 | 91,19,000 |
| 142 | 90,85,000 |
| 143 | 90,83,000 |
| 144 | 90,83,000 |
| 145 | 90,81,000 |
| 146 | 90,79,000 |
| 147 | 90,77,000 |
| 148 | 90,77,000 |
| 149 | 90,73,000 |
*Estimated profit calculated on GMP multiplied by market lot size.
Issue Details at a Glance
| Particulars | Details |
|---|---|
| Issue Period | January 13 to January 16, 2026 |
| Price Band | ₹141 to ₹149 per share |
| Issue Size | 61,71,000 equity shares |
| Face Value | ₹10 per share |
| Market Lot | 1,000 shares |
| Minimum Retail Bid | 2,000 shares |
| Exchange | BSE SME |
The grey market premium (GMP) is an unofficial indicator based on market perception and demand in the unregulated grey market. GMP figures are quoted for informational purposes only and may change frequently. Grey market prices are not regulated by any exchange, and investors should not rely solely on GMP while making investment decisions.
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The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.