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 46.00
Median 18.31
Lowest 5.00
IPO Size (Cr.)
Highest 197.90
Median 33.54
Lowest 1.93
  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
Maxvolt Energy Industries Limited Feb 2025 54.00 Electric Equipments 20.57 New Delhi Smart Horizon Capital Advisors Private Limited
Delta Autocorp Limited Jan 2025 54.60 Electric Equipments 24.11 Bardhaman GYR Capital Advisors Private Limited
Yash Highvoltage Limited Dec 2024 110.01 Electric Equipments - Transformers 33.32 Vadodara Indorient Financial Services Limited
United Heat Transfer Limited Oct 2024 30.00 Electric Equipments - OEM 15.41 Nashik Swastika Investmart Limited
Danish Power Limited Oct 2024 197.90 Electric Equipments - Transformers 18.74 Jaipur Hem Securities Limited
Osel Devices Limited Sep 2024 70.66 Electric Equipments 19.77 New Delhi Horizon Management Private Limited
Prizor Viztech Limited Jul 2024 25.15 Electric Equipments 16.69 Ahmedabad Shreni Shares Limited
Ganesh Green Bharat Limited Jul 2024 125.23 Electric Equipments 23.33 Ahmedabad Hem Securities Limited
Aimtron Electronics Limited Jun 2024 87.02 Electric Equipments 24.67 Vadodara Hem Securities Limited
Aspire & Innovative Advertising Limited Apr 2024 21.97 Electric Equipments 10.42 New Delhi Hem Securities Limited
Akanksha Power and Infrastructure Limited Jan 2024 27.49 Electric Equipments - OEM 35.72 Nashik Narnolia Financial Services Limited
Supreme Power Equipment Limited Dec 2023 46.67 Electric Equipments - Transformers 11.00 Tiruvallur Narnolia Financial Services Limited
Electro Force (India) Limited Dec 2023 80.68 Electric Equipments 15.30 Palghar First Overseas Capital Limited
Vinyas Innovative Technologies Limited Oct 2023 54.66 Electric Equipments - OEM 28.30 Mysore Sarthi Capital Advisors Private Limited
Saakshi Medtech and Panelslimited Oct 2023 45.16 Electric Equipments 13.84 Pune Hem Securities Limited
Cellecor Gadgets Limited Sep 2023 50.77 Electric Equipments 24.21 New Delhi Narnolia Financial Services Limited
Kundan Edifice Limited Sep 2023 25.22 Electric Equipments - OEM 18.20 Palghar Fedex Securities Private Limited
Sungarner Energies Limited Aug 2023 5.31 Electric Equipments 25.94 New Delhi Fast Track Finsec Private Limited
Greenchef Appliances Limited Jul 2023 53.62 Electric Equipments 14.87 Bangalore Hem Securities Limited
Cell Point (India) Limited Jun 2023 50.34 Electric Equipments 24.10 Visakhapatnam First Overseas Capital Limited
Comrade Appliances Limited Jun 2023 12.30 Electric Equipments 24.88 Mumbai Gretex Corporate Services Limited
Macfos Limited Mar 2023 23.74 Electric Equipments 15.22 Pune Hem Securities Limited
Arham Technologies Limited Dec 2022 9.58 Electric Equipments - OEM 13.82 Raipur Finshore Management Services Limited
Viviana Power Tech Limited Sep 2022 8.80 Electric Equipments 11.29 Vadodara Beeline Capital Advisors Private Limited
Virtuoso Optoelectronics Limited Sep 2022 30.24 Electric Equipments - OEM 6.92 Nashik Fedex Securities Private Limited
Jay Jalaram Technologies Limited Sep 2022 10.80 Electric Equipments - OEM 46.00 Ahmedabad Beeline Capital Advisors Private Limited
Sunrise Efficient Marketing Limited Apr 2022 16.70 Electric Equipments 9.70 Surat Fedex Securities Private Limited
Quality RO Industries Limited Feb 2022 2.70 Electric Equipments 113.00 Vadodara Shreni Shares Limited
Safa Systems & Technologies Limited Feb 2022 4.00 Electric Equipments 29.41 Ernakulam Finshore Management Services Limited
Alkosign Limited Feb 2022 12.15 Electric Equipments 0.00 Mumbai Shreni Shares Limited
Cospower Engineering Ltd Mar 2020 2.04 Electric Equipments 23.00 Mumbai Shreni Shares Limited
Wonder Fibromats Limited Aug 2019 19.79 Electric Equipments 12.00 New Delhi Navigant Corporate Advisors Limited
Suich Industries Limited Jun 2019 30.86 Electric Equipments 7.50 New Delhi Pantomath Capital Advisors Private Limited
Artemis Electricals Limited May 2019 42.00 Electric Equipments 14.56 Mumbai Fedex Securities Private Limited
Evans Electric Limited May 2019 1.93 Electric Equipments 7.19 Mumbai Hem Securities Limited
Marine Electricals (India) Limited Oct 2018 42.87 Electric Equipments 10.00 Mumbai Aryaman Financial Services Limited
Innovative Ideals and Services (India) Limited Oct 2018 12.26 Electric Equipments 15.00 Mumbai Pantomath Capital Advisors Private Limited
Spectrum Electrical Industries Limited Oct 2018 25.87 Electric Equipments 17.00 Jalgaon Arihant Capital Markets Limited
Powerful Technologies Limited Aug 2018 13.55 Electric Equipments 11.00 New Delhi Finshore Management Services Limited
ICE Make Refrigeration Limited Dec 2017 23.71 Electric Equipments 15.00 Ahmedabad Vivro Financial Services Private Limited
Pulz Electronics Limited Nov 2017 3.92 Electric Equipments 9.22 Mumbai Sarthi Capital Advisors Private Limited
Goldstar Power Limited Oct 2017 7.25 Electric Equipments 29.00 Jamnagar Pantomath Capital Advisors Private Limited
Mehai Technology Limited Oct 2017 6.00 Electric Equipments 44.00 Chennai Spa Capital Advisors Limited
Servotech Power Systems Limited Aug 2017 15.13 Electric Equipments 11.00 New Delhi Sarthi Capital Advisors Private Limited
Shri Ram Switchgears Limited Jun 2017 5.07 Electric Equipments 9.80 Ratlam Sarthi Capital Advisors Private Limited
Focus Lighting And Fixtures Limited Apr 2017 4.05 Electric Equipments 5.00 Mumbai Sarthi Capital Advisors Private Limited
Creative Peripherals & Distribution Limited Apr 2017 13.50 Electric Equipments 46.00 Mumbai Pantomath Capital Advisors Private Limited
RMC Switchgears Limited Mar 2017 4.15 Electric Equipments 8.00 Jaipur Hem Securities Limited
Nitiraj Engineers Limited Mar 2017 22.01 Electric Equipments 9.00 Mumbai Arihant Capital Markets Limited
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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.

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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