INDO SMC IPO day 1, Jan. 13 -- The initial public offering (IPO) of INDO SMC opened for public subscription on Tuesday, January 13. The SME IPO is witnessing decent buying interest, while the grey market is indicating the stock can list at a premium of over 24%. Meanwhile, INDO SMC said it had raised Rs.26.2 crore from anchor investors by allocating 17.56 lakh shares at a price of Rs.149 per share ahead of the IPO.

According to grey market sources, the GMP of INDO SMC shares was Rs.36 on Tuesday. This indicates the SME stock could list at a premium of 24.2% at Rs.185 on the BSE SME.

By 10:35 am on Tuesday, the SME IPO had seen an overall subscription of nearly 0.15 times, with the retail portion booked 0.21 times, and the segment reserv...