INDO SMC IPO: 110x Subscribed, But Flat Listing Shocks Investors

• INDO SMC's IPO was subscribed over 110 times, indicating strong investor interest.
• Shares listed on BSE SME at ₹149, the same as the issue price, resulting in no listing gain for IPO investors.
• The stock initially hit a lower circuit of ₹141.55 but recovered to an upper circuit of ₹156.45.
• INDO SMC closed at ₹154.80 on its first trading day, leaving IPO investors with a 3.89% loss.
• The company plans to use IPO funds for plant and machinery, working capital, and general corporate purposes.

Why It Matters: Despite massive oversubscription, INDO SMC IPO listed flat, disappointing investors with initial losses.