Indo SMC SME IPO Fully Subscribed, Nearly Doubled Subscription by Day Two

Indo SMC's SME initial public offering (IPO) was fully subscribed on the first day and reached 1.98 times subscription by the second day, with bids for 87.22 lakh shares against 44.15 lakh offered. The IPO, priced between Rs 141-149 per share, raised Rs 26.16 crore from anchor investors including HDFC Bank and Bengal Finance. Proceeds will fund capital expenditure, working capital, and corporate purposes. Qualified institutional buyers have yet to participate. The IPO closes on January 16, with listing expected on January 21.