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 50.00
Median 19.34
Lowest 2.71
IPO Size (Cr.)
Highest 83.65
Median 14.56
Lowest 1.54
  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
Ken Enterprises Limited Feb 2025 83.65 Textiles 16.16 Mumbai Corporate Makers Capital Limited
Davin Sons Retail Limited Jan 2025 8.78 Textiles 19.67 New Delhi Navigant Corporate Advisors Limited
Purple United Sales Limited Dec 2024 32.81 Textiles 18.39 New Delhi Expert Global Consultants Private Limited
Neelam Linens and Garments (India) Limited Nov 2024 13.00 Textiles 15.08 Mumbai Expert Global Consultants Private Limited
Paramount Dye Tec Limited Oct 2024 28.43 Textiles 22.94 Ludhiana Gretex Corporate Services Limited
SD Retail Limited Sep 2024 64.98 Textiles 32.28 Ahmedabad Beeline Capital Advisors Private Limited
Avi Ansh Textile Limited Sep 2024 25.99 Textiles 26.16 New Delhi 3Dimesnion Capital Services Limited
Forcas Studio Limited Aug 2024 37.44 Textiles 25.08 Kolkata Horizon Management Private Limited
Kizi Apparels Limited Aug 2024 5.58 Textiles 22.74 Jaipur Interactive Financial Services Limited
United Cotfab Limited Jun 2024 36.29 Textiles 13.88 Ahmedabad Beeline Capital Advisors Private Limited
Magenta Lifecare Limited Jun 2024 7.00 Textiles 74.03 Vadodara Fedex Securities Private Limited
Piotex Industries Limited May 2024 14.47 Textiles - Fabrics 15.95 Pune Beeline Capital Advisors Private Limited
Silkflex Polymers (India) Limited May 2024 18.11 Textiles 17.64 Kolkata Shreni Shares Limited
Signoria Creation Limited Mar 2024 9.28 Textiles 23.99 Jaipur Holani Consultants Private Limited
Shree Karni Fabcom Limited Mar 2024 42.49 Textiles - Fabrics 13.16 Surat Horizon Management Private Limited
Kalahridhaan Trendz Limited Feb 2024 22.49 Textiles - Fabrics 8.08 Ahmedabad Interactive Financial Services Limited
Shanti Spintex Limited Dec 2023 31.25 Textiles - Fabrics 11.67 Ahmedabad Hem Securities Limited
Mish Designs Limited Nov 2023 9.76 Textiles - Fabrics 75.31 Mumbai Aryaman Financial Services Limited
Karnika Industries Limited Oct 2023 25.07 Textiles - Fabrics 11.06 Kolkata Beeline Capital Advisors Private Limited
Vivaa Tradecom Limited Oct 2023 7.99 Textiles - Fabrics 78.46 Ahmedabad Interactive Financial Services Limited
C P S Shapers Limited Sep 2023 11.10 Textiles 15.78 Palghar Shreni Shares Limited
Sahaj Fashions Limited Sep 2023 13.96 Textiles - Fabrics 13.70 Kishangarh Khambatta Securities Limited
Shri Techtex Limited Aug 2023 45.14 Textiles - Fabrics 16.71 Ahmedabad Beeline Capital Advisors Private Limited
Bizotic Commercial Limited Jun 2023 42.21 Textiles 36.38 Ahmedabad Interactive Financial Services Limited
Veekayem Fashion and Apparels Limited Aug 2022 4.44 Textiles - Fabrics 8.72 Mumbai GYR Capital Advisors Private Limited
KCK Industries Limited Jul 2022 4.50 Textiles 12.40 Chandigarh Navigant Corporate Advisors Limited
Scarnose International Limited Jun 2022 6.60 Textiles 51.89 Ahmedabad Finshore Management Services Limited
Le Merite Exports Limited May 2022 48.00 Textiles 11.09 Mumbai Fedex Securities Private Limited
Swaraj Suiting Limited Mar 2022 10.68 Textiles 10.55 Bhilwara Finshore Management Services Limited
AB Cotspin India Limited Jan 2022 10.09 Textiles 2.71 Bathinda Pantomath Capital Advisors Private Limited
Getalong Enterprise Limited Oct 2021 5.18 Textiles 3.90 Mumbai Shreni Shares Limited
Shine Fashions (India) Limited Nov 2020 1.60 Textiles 0.00 Mumbai Shreni Shares Limited
Billwin Industries Limited Jun 2020 2.46 Textiles 264.00 Mumbai Gretex Corporate Services Limited
Vaxtex Cotfab Limited Jan 2020 3.83 Textiles - Fabrics 10.60 Ahmedabad Capitalsquare Advisors Private Limited
SK International Export Limited Jul 2019 3.96 Textiles 31.00 Mumbai Finshore Management Services Limited
SBC Exports Limited Jul 2019 6.56 Textiles 25.00 Mirzapur Navigant Corporate Advisors Limited
Anand Rayons Limited Jul 2019 12.66 Textiles 20.00 Surat Guiness Corporate Advisors Private Limited
Meera Industries Limited Jun 2019 11.75 Textiles 19.00 Surat Aryaman Financial Services Limited
Jinaams Dress Limited Apr 2019 42.48 Textiles 21.00 Surat Smc Capitals Limited
Artedz Fabs Limited Mar 2019 8.32 Textiles 6.00 Mumbai Pantomath Capital Advisors Private Limited
Iris Clothings Limited Oct 2018 11.07 Textiles 9.00 Kolkata Vc Corporate Advisors Private Limited (Vcapl)
Shubham Polyspin Limited Oct 2018 6.00 Textiles 15.00 Mahesana Beeline Capital Advisors Private Limited
Vinny Overseas Limited Oct 2018 10.38 Textiles 12.00 Ahmedabad Pantomath Capital Advisors Private Limited
Lagnam Spintex Limited Sep 2018 24.60 Textiles 12.00 Bhilwara Boi Merchant Bankers Limited and Holani Consultants Private Limited
Jakharia Fabric Limited Jul 2018 19.66 Textiles 29.00 Mumbai Aryaman Financial Services Limited
Suumaya Lifestyle Limited Jun 2018 3.40 Textiles 19.00 Mumbai Gretex Corporate Services Limited
Akshar Spintex Limited May 2018 26.99 Textiles 20.00 Jamnagar Pantomath Capital Advisors Private Limited
Mittal Life Style Ltd Apr 2018 4.41 Textiles 24.00 Mumbai Sarthi Capital Advisors Private Limited
Active Clothing Co Limited Mar 2018 26.56 Textiles 26.00 Mohali Ajcon Global Services Limited
Angel Fibers Limited Mar 2018 18.22 Textiles 13.00 Rajkot Guiness Corporate Advisors Private Limited
Lorenzini Apparels Limited Feb 2018 4.47 Textiles 12.00 New Delhi Fedex Securities Private Limited
Gujarat Hy-Spin Limited Feb 2018 4.45 Textiles 50.00 Rajkot Pantomath Capital Advisors Private Limited
S K S Textiles Limited Jan 2018 13.32 Textiles 21.00 Mumbai Aryaman Financial Services Limited
Trident Texofab Limited Oct 2017 3.53 Textiles 35.00 Surat Guiness Corporate Advisors Private Limited
AKM Lace & Embrotex Limited Sep 2017 4.76 Textiles 53.00 New Delhi Aryaman Financial Services Limited
Pashupati Cotspin Limited Sep 2017 1.54 Textiles 5.70 Mahesana Hem Securities Limited
7NR Retails Limited Jul 2017 5.12 Textiles 50.00 Ahmedabad Guiness Corporate Advisors Private Limited
Bansal Multiflex Limited Jul 2017 6.20 Textiles 44.00 Ahmedabad Pantomath Capital Advisors Private Limited
Globe Textiles (India) Limited Jun 2017 13.71 Textiles 15.00 Ahmedabad Hem Securities Limited
Meera Industries Limited May 2017 3.89 Textiles 12.00 Surat Guiness Corporate Advisors Private Limited
Laxmi Cotspin Limited Mar 2017 9.60 Textiles 8.00 Jalna Hem Securities Limited
Manomay Tex India Limited Mar 2017 11.41 Textiles 11.00 Bhilwara Pantomath Capital Advisors Private Limited
Super Fine Knitters Limited Feb 2017 4.08 Textiles 14.00 Ludhiana Guiness Corporate Advisors Private Limited
Libas Designs Limited Jan 2017 13.60 Textiles 48.00 Mumbai Sarthi Capital Advisors Private Limited
Bindal Exports Limited Oct 2016 2.00 Textiles 123.00 Surat Pantomath Capital Advisors Private Limited
Gretex Industries Limted Oct 2016 2.10 Textiles 28.00 Kolkata Pantomath Capital Advisors Private Limited
Nandani Creation Limited Oct 2016 4.04 Textiles 41.00 Jaipur Pantomath Capital Advisors Private Limited
Jet Knitwears Limited Oct 2016 4.22 Textiles 31.00 Kanpur Sarthi Capital Advisors Private Limited
Titaanium Ten Enterprise Limited Jul 2016 2.72 Textiles 50.00 Surat Pantomath Capital Advisors Private Limited
Advance Syntex Limited Jul 2016 2.52 Textiles 7.00 Vadodara Hem Securities Limited
United Polyfab Gujarat Limited Jul 2016 7.65 Textiles 26.00 Ahmedabad Corporate Strategic Allianz Limited
Shanti Educational Initiatives Ltd Jun 2016 39.60 Textiles 66.00 Ahmedabad Guiness Corporate Advisors Private Limited
Ghushine Fintrrade Ocean Limited May 2016 2.60 Textiles 0.00 Surat First Overseas Capital Limited
Bella Casa Fashion & Retail Limited Oct 2015 3.43 Textiles 34.00 Jaipur Hem Securities Limited
Junction Fabrics and Apparels Limited Jul 2015 1.60 Textiles 28.00 Tamil Nadu Hem Securities Limited
Supreme (India) Impex Limited Mar 2015 7.87 Textiles 5.00 Surat Pantomath Capital Advisors Private Limited
Amsons Apparels Limited Jan 2015 3.25 Textiles 250.00 New Delhi Bcb Brokerage Private Limited
Momai Apparels Limited Oct 2014 30.00 Textiles 20.00 Mumbai Pantomath Capital Advisors Private Limited
Vishal Fabrics Limited Aug 2014 15.63 Textiles 21.00 Ahmedabad Aryaman Financial Services Limited
R & B Denims Limited Apr 2014 3.71 Textiles 52.00 Surat Hem Securities Limited
Women's Next Loungeries Limited Apr 2014 6.50 Textiles 16.00 Bhiwandi Pantomath Capital Advisors Private Limited
Anisha Impex Limited Mar 2014 6.50 Textiles 200.00 New Delhi Inventure Merchant Banker Services Private Limited
Subh Tex India Limited Oct 2013 3.50 Textiles 500.00 Mumbai Basan Financial Services Limited
Ashapura Intimates Fashion Limited Apr 2013 21.00 Textiles 22.00 Mumbai Kjmc Corporate Advisors (India) Limited
Kavita Fabrics Limited Mar 2013 5.10 Textiles 57.00 Surat Intensive Fiscal Services Private Limited
Anshu's Clothing Limited Oct 2012 5.05 Textiles 0.00 Ahmedabad First Call India Equity Advisors Private 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