sh-indent-after-do

sh-indent-after-do is a variable defined in `sh-script.el'.
Its value is

+

Documentation:
How much to indent a line after a `do' statement.
This is used when the `do' is the first word of the line.
This is relative to the statement before the `do', typically a
`while', `until', `for', `repeat' or `select' statement.

You can customize this variable.