GRE Renew Enertech and Indo SMC IPOs Fully Subscribed on First Day of Bidding

The IPOs of Ahmedabad-based companies GRE Renew Enertech and Indo SMC opened on January 13 and will close on January 16. GRE Renew Enertech's IPO was fully subscribed at 2.1 times, led by strong Qualified Institutional Buyer (QIB) demand, while non-institutional and retail segments were undersubscribed. Indo SMC's IPO also saw full subscription on day one, driven by individual and non-institutional investors, with no QIB participation reported. Both companies plan to use proceeds for capital expenditure and corporate purposes, with shares expected to list on BSE SME around January 21.