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 47.00
Median 17.90
Lowest 3.00
IPO Size (Cr.)
Highest 186.16
Median 22.94
Lowest 1.35
  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
Capital Numbers Infotech Limited Jan 2025 169.37 Information Technology - Data Solutions 23.50 Kolkata GYR Capital Advisors Private Limited
Toss the Coin Limited Dec 2024 9.17 Information Technology - Data Solutions 14.81 Chennai Beeline Capital Advisors Private Limited
C2C Advanced Systems Limited Dec 2024 99.07 Information Technology 19.33 Bangalore Beeline Capital Advisors Private Limited and Mark Corporate Advisors Private Limited
Mangal Compusolution Limited Nov 2024 16.23 Information Technology - Hardware 18.90 Mumbai Jawa Capital Services Private Limited
Sahasra Electronics Solutions Limited Oct 2024 186.16 Information Technology - Hardware 21.68 New Delhi Hem Securities Limited
WOL 3D India Limited Sep 2024 25.56 Information Technology - Hardware 19.23 Mumbai Hem Securities Limited
Pelatro Limited Sep 2024 55.98 Information Technology 0.00 Bangalore Cumulative Capital Private Limited
Paramatrix Technologies Limited Sep 2024 33.84 Information Technology - Data Solutions 30.64 Mumbai Inventure Merchant Banker Services Private Limited
Vdeal System Limited Sep 2024 18.08 Information Technology 17.59 Orissa Affinity Global Capital Market Private Limited
S A Tech Software India Limited Aug 2024 23.01 Information Technology - Data Solutions 7.76 Pune GYR Capital Advisors Private Limited
Diensten Tech Limited Jul 2024 22.08 Information Technology - Data Solutions New Delhi Corporate Professionals Capital Private Limited
Sattrix Information Security Limited Jun 2024 21.78 Information Technology - Data Solutions 22.18 Ahmedabad Isk Advisors Private Limited
3C IT Solutions & Telecoms (India) Limited Jun 2024 11.44 Information Technology 46.47 Pune Kreo Capital Private Limited
Finelistings Technologies Limited May 2024 13.53 Information Technology - Data Solutions 14.80 New Delhi Fedex Securities Private Limited
TAC Infosec Limited Apr 2024 29.99 Information Technology - SaaS 28.50 Mohali Beeline Capital Advisors Private Limited
Enfuse Solutions Limited Mar 2024 22.44 Information Technology - Data Solutions 23.80 Mumbai Hem Securities Limited
Esconet Technologies Limited Feb 2024 28.22 Information Technology - Data Solutions 16.99 New Delhi Corporate Capital Ventures Private Limited
DelaPlex Limited Feb 2024 46.08 Information Technology - Data Solutions 20.55 Nagpur Shreni Shares Limited
Benchmark Computer Solutions Limited Dec 2023 12.24 Information Technology - Data Solutions 23.66 Mumbai Beeline Capital Advisors Private Limited
ROX Hi-Tech Limited Nov 2023 54.49 Information Technology - Data Solutions 9.35 Chennai Swaraj Shares and
Micropro Software Solutions Limited Nov 2023 30.70 Information Technology - Data Solutions 40.70 Nagpur Swaraj Shares and
Canary Automations Limited Oct 2023 47.03 Information Technology - Data Solutions 20.39 Bangalore Indorient Financial Services Limited
Newjaisa Technologies Limited Oct 2023 39.93 Information Technology - Hardware 22.38 New Delhi Indorient Financial Services Limited
Kody Technolab Limited Sep 2023 27.52 Information Technology - Data Solutions 32.06 Ahmedabad Beeline Capital Advisors Private Limited
Yudiz Solutions Limited Aug 2023 44.84 Information Technology - Data Solutions 61.80 Ahmedabad Narnolia Financial Services Limited
AccelerateBS India Limited Jul 2023 5.69 Information Technology - Data Solutions 27.27 Mumbai Shreni Shares Limited
Tridhya Tech Limited Jul 2023 26.41 Information Technology - Data Solutions 26.09 Ahmedabad Interactive Financial Services Limited
Synoptics Technologies Limited Jul 2023 54.03 Information Technology - Data Solutions 25.32 Mumbai First Overseas Capital Limited
Sahana System Limited Jun 2023 32.74 Information Technology - Data Solutions 16.88 Ahmedabad Interactive Financial Services Limited and Unistone Capital Private Limited
Quicktouch Technologies Limited May 2023 9.33 Information Technology 4.78 New Delhi Khambatta Securities Limited and Share India Capital Services Private Limited
Sancode Technologies Limited Apr 2023 5.15 Information Technology - SaaS 10.71 Mumbai Shreni Shares Limited
Labelkraft Technologies Limited Mar 2023 4.75 Information Technology - Data Solutions 62.50 Bangalore Hem Securities Limited
Systango Technologies Limited Mar 2023 34.82 Information Technology - Data Solutions 15.13 Indore Hem Securities Limited
Vertexplus Technologies Limited Mar 2023 14.20 Information Technology - Data Solutions 28.83 Jaipur Beeline Capital Advisors Private Limited
All E Technologies Limited Dec 2022 48.20 Information Technology - SaaS 15.36 New Delhi Unistone Capital Private Limited
Cyber Media Research & Services Limited Oct 2022 14.04 Information Technology 34.95 New Delhi Swastika Investmart Limited
Silicon Rental Solutions Limited Oct 2022 21.15 Information Technology - Hardware 10.73 Mumbai Hem Securities Limited
Varanium Cloud Limited Sep 2022 36.60 Information Technology - SaaS 14.59 Mumbai First Overseas Capital Limited
Olatech Solutions Limited Aug 2022 1.89 Information Technology - Data Solutions 18.00 Mumbai Shreni Shares Limited
Fidel Softech Limited Jun 2022 13.51 Information Technology - Data Solutions 11.15 Pune Shreni Shares Limited
Globesecure Technologies Limited Jun 2022 10.13 Information Technology - SaaS 17.90 Mumbai Fast Track Finsec Private Limited
P E Analytics Limited Apr 2022 31.60 Information Technology - Data Solutions 14.56 New Delhi Sarthi Capital Advisors Private Limited
Ekennis Software Service Limited Mar 2022 2.88 Information Technology - Data Solutions 11.40 Bangalore Shreni Shares Limited
Richa Info Systems Limited Feb 2022 10.00 Information Technology - Hardware 41.67 Gandhinagar Swastika Investmart Limited
Vivo Collaboration Solutions Limited Dec 2021 4.40 Information Technology - SaaS 3.72 New Delhi Sarthi Capital Advisors Private Limited
Wherrelz IT Solutions Limited Dec 2021 2.01 Information Technology - SaaS 0.00 Mumbai Fedex Securities Private Limited
CWD Limited Oct 2021 18.01 Information Technology - Data Solutions 45.80 Mumbai Aryaman Financial Services Limited
Quadpro ITeS Limited Sep 2021 14.10 Information Technology 68.96 Bangalore Beeline Capital Advisors Private Limited
Naapbooks Limited Sep 2021 3.99 Information Technology - Data Solutions 29.25 Ahmedabad GYR Capital Advisors Private Limited
DU Digital Technologies Limited Aug 2021 4.49 Information Technology - Data Solutions 154.76 New Delhi Hem Securities Limited
NIKS Technology Limited Mar 2021 2.01 Information Technology - Data Solutions 119.64 Patna Gretex Corporate Services Limited
ADJIA Technologies Limited Mar 2021 2.00 Information Technology - Data Solutions 87.00 Ahmedabad Shreni Shares Limited
Sigma Solve Limited Oct 2020 4.95 Information Technology - Data Solutions 9.53 Ahmedabad Beeline Capital Advisors Private Limited
AAA Technologies Limited Oct 2020 10.23 Information Technology - Data Solutions 9.70 Mumbai Chartered Finance Management Limited
Ksolves India Limited Jul 2020 4.02 Information Technology - SaaS 21.80 New Delhi Shreni Shares Limited
DC Infotech and Communication Limited Dec 2019 10.80 Information Technology - Hardware 7.40 Mumbai Fedex Securities Private Limited
Alphalogic Techsys Ltd Sep 2019 6.18 Information Technology - Data Solutions 10.66 Pune Finshore Management Services Limited
Mindpool Technologies Limited Feb 2019 3.60 Information Technology - Data Solutions 5.00 Pune Hem Securities Limited
Sungold Media and Entertainment Limited Aug 2018 1.35 Information Technology - Data Solutions 1515.00 Narmada Finshore Management Services Limited
Five Core Electronics Limited May 2018 46.66 Information Technology - Hardware 13.00 New Delhi Sarthi Capital Advisors Private Limited
E2E Networks Limited May 2018 21.99 Information Technology - Data Solutions 12.00 Faridabad Holani Consultants Private Limited
SoftTech Engineers Limited May 2018 22.81 Information Technology - SaaS 17.00 Pune Pantomath Capital Advisors Private Limited
Lex Nimble Solutions Limited Apr 2018 6.34 Information Technology - Data Solutions 114.00 Hyderabad Quintessence Enterprises Private Limited
Innovana Thinklabs Limited Dec 2017 7.70 Information Technology - Data Solutions 25.00 Jaipur Swastika Investmart Limited
Silver Touch Technologies Limited Dec 2017 40.22 Information Technology - Data Solutions 18.00 Ahmedabad Chartered Capital And Investment Limited
IRIS Business Services Limited Oct 2017 16.01 Information Technology - Data Solutions 0.00 Mumbai Pantomath Capital Advisors Private Limited
Reliable Data Services Limited Oct 2017 14.82 Information Technology - Data Solutions 30.00 New Delhi Swastika Investmart Limited
Cadsys (India) Limited Oct 2017 14.70 Information Technology 4.80 Hyderabad Saffron Capital Advisors Private Limited
Global Space Technologies Limited Aug 2017 20.02 Information Technology - SaaS 74.00 Mumbai Choice Capital Advisors Private Limited
Keerti Knowledge And Skills Limited Aug 2017 4.06 Information Technology 30.00 Mumbai Navigant Corporate Advisors Limited
InfoBeans Technologies Limited May 2017 36.78 Information Technology 13.00 Indore Sarthi Capital Advisors Private Limited
Panache Digilife Limited Apr 2017 14.58 Information Technology 25.00 Mumbai Pantomath Capital Advisors Private Limited
Dev Information Technology Limited Apr 2017 6.25 Information Technology 10.00 Ahmedabad Hem Securities Limited
Octaware Technologies Limited Apr 2017 8.60 Information Technology - Data Solutions 14.00 Mumbai Aryaman Financial Services Limited
Airan Limited Mar 2017 14.85 Information Technology - Data Solutions 25.00 Ahmedabad Swastika Investmart Limited
Prabhat Telecoms (India) Limited Aug 2016 11.22 Information Technology - Hardware 47.00 Mumbai Navigant Corporate Advisors Limited
Nintec Systems Limited Apr 2016 1.88 Information Technology 0.00 Ahmedabad Guiness Corporate Advisors Private Limited
Fourth Dimension Solutions Limited Jan 2016 8.68 Information Technology - Data Solutions 3.00 New Delhi Sarthi Capital Advisors Private Limited
OFS Technologies Limited Jan 2016 4.25 Information Technology 7.00 Bangalore V B Desai Financial Services Limited
Funny Software Limited Jun 2015 4.59 Information Technology 350.00 New Delhi First Overseas Capital Limited
ADCC Infocad Limited Oct 2014 9.60 Information Technology - Data Solutions 5.50 Nagpur Hem Securities Limited
Atishay Infotech Limited Oct 2014 3.71 Information Technology - Data Solutions 6.00 Bhopal Hem Securities Limited
Jointeca Education Solutions Limited Sep 2012 5.35 Information Technology - SaaS 0.00 Mathura Ajcon Global Services 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.

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