58  Total SME IPOs listed in 2025

2,593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

58  Total SME IPOs listed in 2025

2593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

58  Total SME IPOs listed in 2025

2593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

58  Total SME IPOs listed in 2025

2593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

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Summary

PE Ratio*
Highest 48.95
Median 18.61
Lowest 3.27
IPO Size (Cr.)
Highest 169.37
Median 44.72
Lowest 1.92
  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 2025

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
Infonative Solutions Limited Apr 2025 24.71 Information Technology 12.84 New Delhi Share India Capital Services Private Limited -->
Retaggio Industries Limited Apr 2025 15.50 Jewellery 23.98 Mumbai Gretex Corporate Services Limited -->
Identixweb Limited Apr 2025 16.63 Information Technology - SaaS 14.07 Surat Beeline Capital Advisors Private Limited -->
ATC Energies System Limited Apr 2025 63.76 Power and Energy 20.84 Mumbai Indorient Financial Services Limited -->
Shri Ahimsa Naturals Limited Apr 2025 73.81 Agro - Food Products 14.25 Jaipur Srujan Alpha Capital Advisors Llp -->
Desco Infratech Limited Apr 2025 30.75 Infrastructure 17.03 Surat Smart Horizon Capital Advisors Private Limited -->
Active Infrastructures Limited Mar 2025 77.83 Infrastructure 24.48 Nagpur Kreo Capital Private Limited -->
Rapid Fleet Management Services Limited Mar 2025 43.87 Logistics 17.68 Chennai Gretex Corporate Services Limited -->
Grand Continent Hotels Limited Mar 2025 74.46 Hotels and Resorts 20.67 Chennai Indorient Financial Services Limited -->
Divine Hira Jewellers Limited Mar 2025 31.84 Jewellery 23.50 Mumbai Horizon Management Private Limited -->
Paradeep Parivahan Limited Mar 2025 44.86 Logistics 15.07 Orissa Share India Capital Services Private Limited -->
Super Iron Foundry Limited Mar 2025 68.05 Steel - Iron 19.89 Kolkata Horizon Management Private Limited -->
PDP Shipping & Projects Limited Mar 2025 12.65 Logistics 17.05 Mumbai Sun Capital Advisory Services (P) Limited -->
NAPS Global India Limited Mar 2025 11.88 Textiles 19.49 Mumbai Aryaman Financial Services Limited -->
Balaji Phosphates Limited Mar 2025 50.11 Minerals 16.72 Indore Arihant Capital Markets Limited -->
Shreenath Paper Products Limited Mar 2025 23.36 Paper and Stationery 26.97 Aurangabad Galactico Corporate Service Limited -->
Nukleus Office Solutions Limited Mar 2025 31.70 Corporate Solutions 46.82 New Delhi Sundae Capital Advisors -->
Beezaasan Explotech Limited Mar 2025 59.93 Chemical 13.57 Gandhinagar Smart Horizon Capital Advisors Private Limited -->
HP Telecom India Limited Feb 2025 34.23 Telecom 12.28 Surat Interactive Financial Services Limited -->
Swasth Foodtech India Limited Feb 2025 14.92 Agro - Food Products 15.05 Kolkata Horizon Management Private Limited -->
Royal Arc Electrodes Limited Feb 2025 36.00 Cables and Wires 20.98 Mumbai Fedex Securities Private Limited -->
Tejas Cargo India Limited Feb 2025 105.84 Logistics 22.95 New Delhi New Berry Capitals Private Limited -->
Shanmuga Hospital Limited Feb 2025 20.62 Healthcare - Hospitals and Clinic 11.36 Chennai Finshore Management Services Limited -->
L.K.Mehta Polymers Limited Feb 2025 7.38 Plastic and Polymer 48.95 Ratlam Swastika Investmart Limited -->
Voler Car Limited Feb 2025 27.00 Logistics 20.17 Kolkata GYR Capital Advisors Private Limited -->
P S Raj Steels Limited Feb 2025 28.28 Steel 13.65 Hisar Khambatta Securities Limited -->
Maxvolt Energy Industries Limited Feb 2025 54.00 Electric Equipments 20.57 New Delhi Smart Horizon Capital Advisors Private Limited -->
Chandan Healthcare Limited Feb 2025 107.36 Healthcare - Hospitals and Clinic 16.74 Lucknow Unistone Capital Private Limited -->
Eleganz Interiors Limited Feb 2025 78.07 Home Decor 15.41 Mumbai Vivro Financial Services Private Limited -->
Solarium Green Energy Limited Feb 2025 105.04 Solar 26.36 Ahmedabad Beeline Capital Advisors Private Limited -->
Readymix Construction Machinery Limited Feb 2025 37.66 Infrastructure 96.85 Pune Hem Securities Limited -->
Ken Enterprises Limited Feb 2025 83.65 Textiles 16.16 Mumbai Corporate Makers Capital Limited -->
Amwill Health Care Limited Feb 2025 59.98 Healthcare - Personal Care 17.04 Bangalore Unistone Capital Private Limited -->
Chamunda Electrical Limited Feb 2025 14.60 Power and Energy 14.66 Ahmedabad GYR Capital Advisors Private Limited -->
Malpani Pipes & Fittings Limited Feb 2025 25.92 Steel - Tubes and Pipes 12.69 Ratlam Interactive Financial Services Limited -->
GB Logistics Commerce Limited Jan 2025 25.07 Logistics 16.53 Nagpur SKI Capital Services Limited -->
H.M. Electro Mech Limited Jan 2025 27.74 Engineering - EPC 15.39 Ahmedabad Beeline Capital Advisors Private Limited -->
CLN Energy Limited Jan 2025 72.30 Engineering - Automotive 26.95 New Delhi Aryaman Financial Services Limited -->
Rexpro Enterprises Limited Jan 2025 53.65 Furniture 21.04 Mumbai Horizon Management Private Limited -->
Capital Numbers Infotech Limited Jan 2025 169.37 Information Technology - Data Solutions 23.50 Kolkata GYR Capital Advisors Private Limited -->
Ema Partners India Limited Jan 2025 76.01 Human Resources and Manpower 21.98 Mumbai Indorient Financial Services Limited -->
Landmark Immigration Consultants Limited Jan 2025 40.34 Corporate Solutions 13.74 Chandigarh Shreni Shares Limited -->
Kabra Jewels Limited Jan 2025 40.00 Jewellery 10.16 Ahmedabad Marwadi Chandarana Intermediaries Brokers Private Limited -->
Rikhav Securities Limited Jan 2025 88.82 Banking and Finance 3.27 Mumbai Smart Horizon Capital Advisors Private Limited -->
Barflex Polyfilms Limited Jan 2025 39.42 Packaging & Disposables 7.34 New Delhi Almondz Financial Services Limited -->
Sat Kartar Shopping Limited Jan 2025 33.80 Healthcare - Ayurvedic 20.23 New Delhi Narnolia Financial Services Limited -->
Avax Apparels And Ornaments Limited Jan 2025 1.92 Jewellery 4.01 New Delhi SKI Capital Services Limited -->
Delta Autocorp Limited Jan 2025 54.60 Electric Equipments 24.11 Bardhaman GYR Capital Advisors Private Limited -->
B.R.Goyal Infrastructure Limited Jan 2025 85.21 Infrastructure 55.13 Indore Beeline Capital Advisors Private Limited -->
Indobell Insulation Limited Jan 2025 10.14 Engineering 34.18 Kolkata Finshore Management Services Limited -->
Fabtech Technologies Cleanrooms Limited Jan 2025 27.74 Furniture 9.69 Mumbai Vivro Financial Services Private Limited -->
Davin Sons Retail Limited Jan 2025 8.78 Textiles 19.67 New Delhi Navigant Corporate Advisors Limited -->
Parmeshwar Metal Limited Jan 2025 24.74 Metal 9.55 Gandhinagar Beeline Capital Advisors Private Limited -->
Leo Dryfruits & Spices Trading Limited Jan 2025 25.12 Agro - Food Products 14.02 Mumbai Shreni Shares Limited -->
Technichem Organics Limited Jan 2025 25.25 Chemical 20.15 Ahmedabad Shreni Shares Limited -->
Citichem India Limited Jan 2025 12.60 Chemical 59.65 Mumbai Horizon Management Private Limited -->
Anya Polytech & Fertilizers Limited Jan 2025 44.80 Chemical - Pesticides 9.26 New Delhi 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