35  Total SME IPOs listed in 2025

1636.98 Crs.  Total funds raised in 2025

27  SME IPOs listed with Gain in 2025

8  SME IPOs listed with loss in 2025

35  Total SME IPOs listed in 2025

1636.98 Crs.  Total funds raised in 2025

27  SME IPOs listed with Gain in 2025

8  SME IPOs listed with loss in 2025

35  Total SME IPOs listed in 2025

1636.98 Crs.  Total funds raised in 2025

27  SME IPOs listed with Gain in 2025

8  SME IPOs listed with loss in 2025

35  Total SME IPOs listed in 2025

1636.98 Crs.  Total funds raised in 2025

27  SME IPOs listed with Gain in 2025

8  SME IPOs listed with loss in 2025

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Summary

PE Ratio*
Highest 48.78
Median 18.10
Lowest 3.72
IPO Size (Cr.)
Highest 101.64
Median 14.23
Lowest 1.12
  1. *IPOs with Extreme PE (50+) are excluded from the above calculations.
  2. Above summary is for reference only as the same is based on the limited data set.

SME IPOs in 2021

This feature on IPOPlatform.com provides detailed insights into SME IPO listings and funds raised in India on platforms like BSE SME and NSE Emerge. It offers year-wise SME IPO analysis, highlighting the number of IPO SMEs, funds raised, and the role of BRLMs (Book Running Lead Managers), also referred to as merchant bankers in India. The report covers current SME IPOs, recent SME IPOs, and tracks IPO performance based on listing gains and market trends. This data helps businesses and investors stay informed about key developments in the growing IPO SME market.

Company Name IPO Year (Listed) IPO Size (Cr.) Sector PE Ratio City Merchant Banker
Vivo Collaboration Solutions Limited Dec 2021 4.40 Information Technology - SaaS 3.72 New Delhi Sarthi Capital Advisors Private Limited
Brandbucket Media & Technology Limited Dec 2021 8.25 Advertising and Media 33.13 Mumbai Inventure Merchant Banker Services Private Limited
Clara Industries Limited Dec 2021 3.02 Packaging & Disposables 4.78 Saharanpur Gretex Corporate Services Limited
Wherrelz IT Solutions Limited Dec 2021 2.01 Information Technology - SaaS 0.00 Mumbai Fedex Securities Private Limited
Foce India Limited Dec 2021 29.03 Retail 18.10 Mumbai Mark Corporate Advisors Private Limited
Euro Panel Products Limited Dec 2021 45.50 Aluminium 22.80 Mumbai Fedex Securities Private Limited
Nupur Recyclers Limited Dec 2021 34.20 Recycling - Metal 4.70 New Delhi Corporate Capital Ventures Private Limited
DMR Hydroengineering & Infrastructures Limited Dec 2021 2.09 Engineering 9.81 Faridabad Shreni Shares Limited
Omntent Industries Limited Nov 2021 18.90 Infrastructure 12.33 Mumbai Inventure Merchant Banker Services Private Limited
Suyog Gurbaxani Funicular Ropeways Limited Nov 2021 29.50 Engineering 0.00 Mumbai Aryaman Financial Services Limited
Nidan Laboratories and Healthcare Limited Nov 2021 50.00 Healthcare - Hospitals and Clinic 39.81 Palagar First Overseas Capital Limited
Kotyark Industries Limited Nov 2021 11.26 Power and Energy - Bio 27.00 Vadodara Beeline Capital Advisors Private Limited
DK Enterprises Global Limited Oct 2021 7.99 Packaging & Disposables 7.51 Panchkula Beeline Capital Advisors Private Limited
Dynamic Services & Security Limited Oct 2021 24.13 Human Resources and Manpower 66.23 Kolkata Finshore Management Services Limited
Samor Reality Limited Oct 2021 8.06 Real Estate 269.57 Ahmedabad Beeline Capital Advisors Private Limited
Adishakti Loha and Ispat Limited Oct 2021 2.00 Steel 0.00 New Delhi Turnaround Corporate Advisors Private Limited
CWD Limited Oct 2021 18.01 Information Technology - Data Solutions 45.80 Mumbai Aryaman Financial Services Limited
Destiny Logistics & Infra Limited Oct 2021 5.39 Logistics 51.28 Kolkata Finshore Management Services Limited
Bombay Metrics Supply Chain Limited Oct 2021 4.29 Engineering 11.02 Mumbai Unistone Capital Private Limited
Promax Power Limited Oct 2021 1.60 Engineering 33.33 Chandigarh Finshore Management Services Limited
Shri Venkatesh Refineries Limited Oct 2021 11.71 Agro 12.62 Jalgaon Hem Securities Limited
Jainam Ferro Alloys (I) Limited Oct 2021 19.61 Steel - Iron 23.73 Chattisgarh Hem Securities Limited
Getalong Enterprise Limited Oct 2021 5.18 Textiles 3.90 Mumbai Shreni Shares Limited
Quadpro ITeS Limited Sep 2021 14.10 Information Technology 68.96 Bangalore Beeline Capital Advisors Private Limited
SBL Infratech Limited Sep 2021 2.37 Real Estate - Broking 528.00 New Delhi Fast Track Finsec Private Limited
Markolines Traffic Controls Limited Sep 2021 40.00 Infrastructure 34.82 Mumbai Gretex Corporate Services Limited
Prevest Denpro Limited Sep 2021 26.61 Healthcare 13.55 Jammu Hem Securities Limited
Platinumone Business Services Limited Sep 2021 3.89 Outsourcing - BPO 13.45 Mumbai Gretex Corporate Services Limited
BEW Engineering Limited Sep 2021 3.97 Engineering 5.21 Mumbai First Overseas Capital Limited
Naapbooks Limited Sep 2021 3.99 Information Technology - Data Solutions 29.25 Ahmedabad GYR Capital Advisors Private Limited
Aashka Hospitals Limited Sep 2021 101.64 Healthcare - Hospitals and Clinic 68.75 Gandhinagar Fedex Securities Private Limited
DU Digital Technologies Limited Aug 2021 4.49 Information Technology - Data Solutions 154.76 New Delhi Hem Securities Limited
Network People Services Technologies Limited Aug 2021 13.70 Banking and Finance - FinTech 48.78 Mumbai Boi Merchant Bankers Limited and Holani Consultants Private Limited
Rex Pipes and Cables Industries Limited Aug 2021 6.24 Plastic and Polymer 18.43 Sikar Navigant Corporate Advisors Limited
Gretex Corporate Services Limited Aug 2021 5.13 Banking and Finance 27.29 Mumbai Aryaman Financial Services Limited
AA Plus Tradelink Limited Jul 2021 6.48 Retail 112.50 Mumbai Inventure Merchant Banker Services Private Limited
Walpar Nutritions Limited Jul 2021 6.60 Healthcare - Ayurvedic 64.00 Gandhinagar Beeline Capital Advisors Private Limited
Focus Business Solution Limited Jul 2021 1.22 Banking and Finance - FinTech 7.67 Surat Navigant Corporate Advisors Limited
Times Green Energy (India) Limited Jun 2021 4.05 Agro 59.80 Hyderabad Aryaman Financial Services Limited
Adeshwar Meditex Limited Jun 2021 9.75 Healthcare 19.53 Mumbai Aryaman Financial Services Limited
Navoday Enterprises Limited Jun 2021 4.61 Corporate Solutions 14.81 Mumbai Inventure Merchant Banker Services Private Limited
Abhishek Integrations Limited Jun 2021 4.95 Human Resources and Manpower 125.00 Ahmedabad Beeline Capital Advisors Private Limited
Kuberan Global Edu Solutions Limited May 2021 1.12 Education - Edtech 28.00 Coimbatore Fedex Securities Private Limited
Jetmall Spices and Masala Limited Apr 2021 4.98 Agro - Food Products 9.20 Chennai Mark Corporate Advisors Private Limited
Rajeshwari Cans Limited Apr 2021 4.03 Packaging & Disposables 62.00 Ahmedabad Fedex Securities Private Limited
V-Marc India Limited Apr 2021 23.40 Cables and Wires 16.60 Haridwar Pantomath Capital Advisors Private Limited
Siddhika Coatings Limited Apr 2021 4.70 Chemical - Paint and Adhesives 44.19 New Delhi Unistone Capital Private Limited
EKI Energy Services Limited Apr 2021 18.60 Recycling 6.50 Indore Hem Securities Limited
NIKS Technology Limited Mar 2021 2.01 Information Technology - Data Solutions 119.64 Patna Gretex Corporate Services Limited
Rangoli Tradecomm Limited Mar 2021 45.15 Plastic and Polymer 7.83 Kolkata Fedex Securities Private Limited
Knowledge Marine & Engineering Works Limited Mar 2021 10.12 Engineering - EPC 5.00 Mumbai Hem Securities Limited
Ashapuri Gold Ornament Limited Mar 2021 30.02 Jewellery 426.00 Ahmedabad Mehta Integrated Finance Limited
ADJIA Technologies Limited Mar 2021 2.00 Information Technology - Data Solutions 87.00 Ahmedabad Shreni Shares Limited
Pavna Industries Limited Mar 2021 29.70 Engineering - Automotive 60.40 Aligarh Aryaman Financial Services Limited
Party Cruisers Limited Mar 2021 7.75 Advertising and Media - Events 94.00 Mumbai First Overseas Capital Limited
MRP Agro Limited Feb 2021 3.24 Agro - Food Products 41.60 Tikamgarh Beeline Capital Advisors Private Limited

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Upcoming SME IPOs in India

The below mentioned are the forthcoming SME IPOs for which DRHPs have been filed recently and are in process of approval by the BSE SME or NSE Emerge exchange.

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*The Revenue and PAT figures mentioned above are on the Annualised basis.

FAQs

Mainboard IPO

To list on the NSE for a Mainboard IPO, a company must have ₹10 crore paid-up capital, ₹25 crore market capitalization, a 3-year track record, and comply with legal requirements, with no insolvency or debt defaults.

To list on the BSE, the company must have ₹10 crore paid-up capital, raise at least ₹10 crore in the IPO, and have a ₹25 crore market capitalization post-issue.

For more details, please refer to Link https://www.ipoplatform.com/blogs/difference-between-mainboard-and-sme-ipo/127

SME IPO 

To list on NSE Emerge and BSE SME, a company’s post-issue capital should not exceed to Rs 25 crore a 3-year track record, and profit in 2 of the last 3 years. The company must have, ₹1 crore net worth, ₹3 crore net tangible assets, and at least 1 year of operating profit or a 3-year track record from its predecessor.

For details on NSE SME eligibility, refer to Link https://www.ipoplatform.com/blogs/nse-sme-eligibility-criteria/135

For details on BSE SME eligibility criteria, refer to link https://www.ipoplatform.com/blogs/bse-sme-eligibility-criteria/134

Valuation of a company for an IPO depends on several factors, including:

  • Revenue: Positive revenue often leads to positive profit (PAT), affecting the P/E ratio.
  • Growth Potential: A company’s ability to expand revenue and profits based on market demand and strategies.
  • Market Conditions: The overall market environment at the time of the IPO.
  • Industry: The company’s industry and its trends, which influence the P/E multiple and valuation.

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  • IPO process includes filing DRHP which gives details on the utilizations of the funds in its objects of offer section. Generally, the funds are utilized towards working capital, capital expansion and repayment of debt.

When a company raises funds through an IPO (Initial Public Offering), following things should be kept in mind;

  1. Separate Bank Account: All the money raised from the IPO must be kept in a separate bank account.
  2. Usage of Funds: The company must clearly show how the raised money was spent in its financial reports, including the purpose of each expenditure.
  3. Unutilized Funds: If any money from the IPO is not used, the company must disclose where and how those funds are being kept or invested.

The merchant banker must have to provide the details of utilization to SEBI. 

IPO advisors or SME IPO Consultants play a crucial role in guiding the company through the IPO process. They assist with structuring the offering, preparing necessary documentation, IPO pricing with fair valuations, ensuring regulatory compliance, due diligence activity, and helping market the IPO to potential investors. Their expertise ensures a smooth and successful public listing.

IPO platform in India provides information on upcoming IPOs on NSE Emerge and BSE SME and list of merchant bankers and anchor investors. Role of IPO advisor is important in the success of the listings. 

Understand the role of IPO Advisors

Pre IPO-Issue also has to comply with SEBI ICDR regulations.

A pre-IPO company might get eventually listed on NSE Emerge, BSE SME or mainboard platform of the stock exchanges by fulfilling the NSE/BSE eligibility criteria. Best Merchant Bankers in India have the role and responsibility for launching IPO.

For further details refer this link https://www.ipoplatform.com/blogs/what-is-pre-ipo-investment-and-role-of-ipo-advisors/142