Indo SMC IPO subscribed 103x, GRE Renew Enertech over 15x on final day; listing scheduled on January 21

Strong Demand for Indo SMC's Initial Public Offering

Indo SMC, a leading manufacturer of sheet moulding compound and fibre reinforced polymer products, has seen strong demand for their Initial Public Offering (IPO). The issue garnered 102.83 times subscription on January 16, outpacing their competitors.

Comparison with Other IPOs

• Indo SMC: 102.83 times subscription
• GRE Renew Enertech: 15.43 times subscription
• Narmadesh Brass Industries: 1.23 times subscription

Indo SMC's IPO Details

Indo SMC is raising Rs 91.9 crore via initial share sale of 61.71 lakh shares at Rs 149 per share, the upper end of the price band. The company plans to use the proceeds mainly for purchase of plant and machinery and working capital requirements, and the remainder for general corporate purposes.

Subscription Numbers

• Non-institutional investors: 122.14 times their allotted quota
• Retail investors: 96.13 times
• Qualified institutional buyers: 94.94 times

GRE Renew Enertech's IPO Details

GRE Renew Enertech, a rooftop and ground mount solar solutions provider, saw decent subscription numbers with 15.43 times subscription. The company is raising Rs 39.56 crore via IPO of 37.68 lakh shares at the upper end of the price band of Rs 100-105 per share.

Subscription Numbers

• Non-institutional investors: 18.46 times
• Qualified institutional buyers: 14.69 times
• Retail investors: 14.1 times

Narmadesh Brass Industries' IPO Details

Narmadesh Brass Industries, a brass products maker, closed its public issue on Friday with 1.23 times subscription. The company is raising Rs 45-crore via IPO of 8.71 lakh shares at the upper end of the price band.

Subscription Numbers

• Non-institutional investors: 17.33 times
• Qualified institutional buyers: 2.33 times
• Retail investors: 1.45 times

Timeline

Indo SMC, GRE Renew Enertech, and Narmadesh Brass Industries will finalise their IPO share allotment by January 19. Their shares will be available for trading on the BSE SME effective January 21.