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 45.00
Median 18.41
Lowest 5.47
IPO Size (Cr.)
Highest 81.94
Median 18.66
Lowest 2.01
  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 by Sector

IPO platform in India provides the valuable information about the SME IPO companies in a particular sector. IPO information on sectors like Information Technology, Solar, Textiles, Pharma and other sectors is available. IPO analysis basis sector enables SME promoters and IPO investors to understand performance of IPO by sector. It also serves as a peer comparison for key metrics like IPO valuation and IPO performance by listing gain. List of SME Merchant Bankers in India provides the top Merchant Bankers with respect to sectors they are underwriting.

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All
Textiles
Engineering
Information Technology - Data Solutions
Logistics
Banking and Finance
Chemical
Electric Equipments
Jewellery
Infrastructure
Real Estate
Agro
Pharmaceutical
Agro - Food Products
Packaging & Disposables
Plastic and Polymer
Corporate Solutions
Steel
Advertising and Media
Furniture
Cables and Wires
Engineering - EPC
Engineering - Automotive
Healthcare
Retail
Film and Animation - VFX
Information Technology
Healthcare - Hospitals and Clinic
FMCG - Snacks and Beverages
Metal
Education - Edtech
Solar
Textiles - Fabrics
Information Technology - SaaS
Banking and Finance - FinTech
Telecom
Human Resources and Manpower
Information Technology - Hardware
Steel - Tubes and Pipes
Travel and Tourism
Aluminium
Automobile - Forging and Casting
FMCG
Hotels and Resorts
Agro - Plantation
Chemical - Speciality
Electric Equipments - OEM
Healthcare - Personal Care
Power and Energy
Advertising and Media - Events
Chemical - Paint and Adhesives
E-Commerce
Engineering - Heavy Machinery
Rubber
Steel - Iron
Minerals
Home Decor
Ceramic and Stone - Marble, Tiles and Granite
Chemical - Pesticides
Outsourcing
Outsourcing - BPO
Solar - Panels
Oil and Gas
Automobile
Education
Engineering - Tech Solutions
Healthcare - Ayurvedic
Recycling - Waste
Valves
Electric Equipments - Transformers
ESG - Waste
Pharmaceutical - Ayurvedic
Recycling
Recycling - Metal
Agro - Flour Mill
Agro - Sugar
Corporate Solutions - Gifts
Defence
Drone
ESG
Glass
Power and Energy - Bio
Real Estate - Broking
Hotels and Resorts - QSR
Cement
Ceramic and Stone
Chemical - Salt
Furniture - Industrial Storage
Healthcare - Gloves
Power and Energy - Wind
Real Estate - Residential and Commercial
Recycling - Polymer
Steel - Tools
Tea and Coffee
Laboratories
Paper and Stationery
Cosmetic
Power and Energy - Hydro
Power and Energy - Solar
Real Estate - Infrastructure
Solar - Energy
Insurance
Footwear
Online Service Provider
Railway
Real Estate - REIT
Aviation
Retail - Supermarket
Company Name IPO Year (Listed) IPO Size (Cr.) Sector P/E City Merchant Banker
Leo Dryfruits & Spices Trading Limited Jan 2025 25.12 Agro - Food Products 14.02 Mumbai Shreni Shares Limited
Dhanlaxmi Crop Science Limited Dec 2024 23.80 Agro 5.47 Himmatnagar Finshore Management Services Limited
Freshara Agro Exports Limited Oct 2024 75.39 Agro 11.98 Chennai GYR Capital Advisors Private Limited
Phoenix Overseas Limited Sep 2024 36.03 Agro 22.51 Kolkata Khandwala Securities Limited
Gajanand International Limited Sep 2024 20.65 Agro - Plantation 30.31 Rajkot Fast Track Finsec Private Limited
Jeyyam Global Foods Limited Sep 2024 81.94 Agro 19.20 Chennai Corpwis Advisors Private Limited
Aelea Commodities Limited Jul 2024 51.00 Agro 11.48 Mumbai Ekadrisht Capital Private Limited
Dindigul Farm Product Limited Jun 2024 34.83 Agro 16.81 Dindigul Beeline Capital Advisors Private Limited
TBI Corn Limited Jun 2024 44.94 Agro 16.70 Sangli Ekadrisht Capital Private Limited and Swastika Investmart Limited
HOAC Foods India Limited May 2024 5.54 Agro - Food Products 18.57 New Delhi GYR Capital Advisors Private Limited
TGIF Agribusiness Limited May 2024 6.39 Agro 19.71 Ahmedabad Hem Securities Limited
Vishwas Agri Seeds Limited Apr 2024 25.80 Agro - Plantation 9.53 Ahmedabad Isk Advisors Private Limited
M.V.K. Agro Food Product Ltd Mar 2024 65.88 Agro - Food Products 21.61 Nanded Horizon Management Private Limited
Italian Edibles Limited Feb 2024 26.66 Agro - Food Products 19.97 Indore First Overseas Capital Limited
Mayank Cattle Food Limited Feb 2024 19.44 Agro 33.89 Rajkot Finshore Management Services Limited
Konstelec Engineers Limited Jan 2024 28.70 Agro - Plantation 11.59 Mumbai Beeline Capital Advisors Private Limited
Euphoria Infotech India Limited Jan 2024 9.60 Agro - Food Products 23.99 Kolkata Khandwala Securities Limited
Sheetal Universal Limited Dec 2023 23.80 Agro - Food Products 17.81 Rajkot Beeline Capital Advisors Private Limited
Baba Food Processing limited Nov 2023 33.00 Agro - Flour Mill 16.14 Ranchi Horizon Management Private Limited
Vrundavan Plantation Limited Nov 2023 15.29 Agro - Plantation 27.69 Ahmedabad Interactive Financial Services Limited
Rajgor Castor Derivatives Limited Oct 2023 47.81 Agro - Food Products 15.48 Ahmedabad Beeline Capital Advisors Private Limited
City Crops Agrolimited Oct 2023 15.00 Agro 34.72 Ahmedabad Turnaround Corporate Advisors Private Limited
Madhusudan Masala Limited Sep 2023 23.80 Agro - Food Products 15.70 Jamnagar Hem Securities Limited
Srivari Spices and Foods Limited Aug 2023 9.00 Agro - Flour Mill 9.59 Hyderabad GYR Capital Advisors Private Limited
Prospect Commodities Limited Mar 2023 7.48 Agro - Food Products 31.44 Ahmedabad Interactive Financial Services Limited
Dollex Agrotech Limited Dec 2022 24.39 Agro - Sugar 14.46 Indore Expert Global Consultants Private Limited
AMBO Agritec Limited Dec 2022 10.20 Agro - Food Products 14.22 Kolkata Finshore Management Services Limited
Tapi Fruit Processing Limited Sep 2022 5.21 Agro - Food Products 120.00 Surat Fedex Securities Private Limited
Upsurge Seeds of Agriculture Limited Aug 2022 22.81 Agro - Food Products 21.35 Rajkot Finshore Management Services Limited
Pearl Green Clubs and Resorts Limited Jul 2022 11.72 Agro - Food Products 53.60 Ahmedabad Fast Track Finsec Private Limited
Empyrean Cashews Limited Mar 2022 19.41 Agro - Food Products 25.69 Mumbai Systematix Corporate Services Limited
KN Agri Resources Limited Mar 2022 49.38 Agro 5.57 Raipur Hem Securities Limited
Shri Venkatesh Refineries Limited Oct 2021 11.71 Agro 12.62 Jalgaon Hem Securities Limited
Times Green Energy (India) Limited Jun 2021 4.05 Agro 59.80 Hyderabad Aryaman Financial Services Limited
Jetmall Spices and Masala Limited Apr 2021 4.98 Agro - Food Products 9.20 Chennai Mark Corporate Advisors Private Limited
MRP Agro Limited Feb 2021 3.24 Agro - Food Products 41.60 Tikamgarh Beeline Capital Advisors Private Limited
ICL Organic Dairy Products Limited Feb 2020 4.08 Agro - Food Products 80.00 New Delhi Finshore Management Services Limited
Mangalam Global Enterprise Limited Nov 2019 21.57 Agro 20.00 Ahmedabad Pantomath Capital Advisors Private Limited
White Organic Retail Limited May 2019 15.46 Agro 5.71 Mumbai Finshore Management Services Limited
Axita Cotton Limited Jan 2019 10.51 Agro 30.00 Mahesana Beeline Capital Advisors Private Limited
Sun Retail Limited Oct 2018 10.12 Agro 95.00 Ahmedabad Fedex Securities Private Limited
Manorama Industries Limited Oct 2018 64.00 Agro 20.00 Mumbai Pantomath Capital Advisors Private Limited
Akg Exim Limited Sep 2018 5.52 Agro 20.00 New Delhi Navigant Corporate Advisors Limited
ShreeOswal Seeds & Chemicals Limited Jun 2018 11.90 Agro 17.00 Neemuch Pantomath Capital Advisors Private Limited
Nakoda Group of Industries Limited Jun 2018 6.48 Agro 18.00 Nagpur Pantomath Capital Advisors Private Limited
Megastar Foods Limited May 2018 8.04 Agro - Food Products 25.00 Chandigarh Swastika Investmart Limited
Indo US Bio-Tech Limited May 2018 7.29 Agro - Food Products 19.00 Ahmedabad Swastika Investmart Limited
Bombay Super Hybrid Seeds Limited Apr 2018 10.39 Agro - Plantation 73.00 Rajkot Monarch Networth Capital Limited
Narmada Agrobase Limited Apr 2018 7.48 Agro 57.00 Ahmedabad Corporate Capital Ventures Private Limited
Soni Soya Products Limited Apr 2018 4.50 Agro - Food Products 9.00 Indore Pantomath Capital Advisors Private Limited
Continental Seeds and Chemicals Limited Apr 2018 4.21 Agro - Plantation 17.00 New Delhi Navigant Corporate Advisors Limited
Sarveshwar Foods Limited Mar 2018 54.97 Agro - Food Products 13.00 Jammu Asit C. Mehta Investment Interrmediates Limited and Keynote Financial Services Limited
Tasty Dairy Specialities Limited Feb 2018 24.44 Agro - Food Products 19.00 Kanpur Mark Corporate Advisors Private Limited
Shree Ram Protiens Ltd Feb 2018 19.90 Agro 86.00 Rajkot Pantomath Capital Advisors Private Limited
Jhandewalas Foods Limited Jan 2018 16.01 Agro - Food Products 24.00 Jaipur Guiness Corporate Advisors Private Limited
Ajooni Biotech Limited Jan 2018 6.59 Agro 45.00 Mohali Navigant Corporate Advisors Limited
Sheetal Cool Products Limited Oct 2017 24.00 Agro - Food Products 36.00 Amreli Guiness Corporate Advisors Private Limited
Sri Krishna Metcom Limited Sep 2017 19.25 Agro - Food Products 70.00 Ranchi Microsec Capital Limited
Nouritrans Exim Limited Sep 2017 6.12 Agro 61.00 Ahmedabad First Overseas Capital Limited
Ashok Masala Mart Limited Aug 2017 2.01 Agro 43.00 Mumbai Navigant Corporate Advisors Limited
Shanti Overseas (India) Limited Aug 2017 10.02 Agro - Food Products 9.70 Indore Hem Securities Limited
CKP Products Limited May 2017 6.24 Agro - Food Products 11.00 Mumbai Aryaman Financial Services Limited
M K Proteins Limited Apr 2017 10.23 Agro - Food Products 53.00 Ambala Sarthi Capital Advisors Private Limited
Oceanic Foods Limited Mar 2017 6.50 Agro - Food Products 32.00 Jamnagar Pantomath Capital Advisors Private Limited
Zeal Aqua Limited Jul 2016 14.76 Agro 30.00 Surat Corporate Strategic Allianz Limited
Ahimsa Industries Limited Oct 2015 3.80 Agro - Sugar 0.00 Ahmedabad Sarthi Capital Advisors Private Limited
Mangalam Seeds Limited Aug 2015 5.70 Agro 18.00 Ahmedabad Pantomath Capital Advisors Private Limited
Raghuvansh Agrofarms Limited Jan 2015 3.96 Agro 110.00 New Delhi Sobhagya Capital Options Limited
Sirohia & Sons Limited Sep 2014 3.60 Agro 136.00 Kolkata Vc Corporate Advisors Private Limited (Vcapl)
Oceanaa Biotek Industries Limited Apr 2014 2.10 Agro 13.00 Chennai V B Desai Financial Services Limited
Karnimata Cold Storage Limited Mar 2014 3.04 Agro 100.00 West Bengal Aryaman Financial Services Limited
HPC Biosciences Limited Mar 2013 15.75 Agro 8.00 New Delhi Guiness Corporate Advisors Private Limited
Esteem Bio Organic Food Processing Limited Feb 2013 11.25 Agro - Food Products 0.00 New Delhi Guiness Corporate Advisors Private Limited
Eco Friendly Food Processing Park Limited Jan 2013 7.52 Agro - Plantation 0.00 New Delhi Guiness Corporate Advisors Private Limited
Comfort Commotrade Limited Sep 2012 6.00 Agro 0.00 Mumbai Vc Corporate Advisors Private Limited (Vcapl)
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604 SME IPO Listed on NSE Emerge
1178+ SME IPO Listings So Far
574 SME IPO Listed on BSE SME

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.

See more >

*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.

Learn More

  • 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