51  Total SME IPOs listed in 2025

2,358.51 Crs.  Total funds raised in 2025

35  SME IPOs listed with Gain in 2025

16  SME IPOs listed with loss in 2025

51  Total SME IPOs listed in 2025

2358.51 Crs.  Total funds raised in 2025

35  SME IPOs listed with Gain in 2025

16  SME IPOs listed with loss in 2025

51  Total SME IPOs listed in 2025

2358.51 Crs.  Total funds raised in 2025

35  SME IPOs listed with Gain in 2025

16  SME IPOs listed with loss in 2025

51  Total SME IPOs listed in 2025

2358.51 Crs.  Total funds raised in 2025

35  SME IPOs listed with Gain in 2025

16  SME IPOs listed with loss in 2025

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Summary

PE Ratio*
Highest
Median 0.00
Lowest
IPO Size (Cr.)
Highest
Median 0.00
Lowest
  1. *IPOs with Extreme PE (100+) are excluded from the above calculations.
  2. Above summary is for reference only as the same is based on the limited data set.

IPOs by PE Multiple

The total funds raised through an IPO depend significantly on the company’s valuation. In mainboard IPOs, merchant bankers and advisors use P/E multiples, derived on basis of a company’s historical performance, future profits, and sector outlook. Valuation drives the IPO Issue size and affects the market capitalisation over a longer time period. Comparing the company’s valuation with peers in the same sector ensures that the IPO pricing is competitive and not overpriced or underpriced

Company Name IPO Year (Listed) IPO Size (Cr.) Sector PE Ratio City Offer price CMP (BSE)
Laxmi Dental Limited Jan 2025 698.06 Healthcare 51.73 Mumbai 428.00 445.15
Unimech Aerospace And Manufacturing Limited Dec 2024 500.00 Defence 51.61 Bangalore 785.00 967.75
International Gemmological Institute (India) Limited Dec 2024 4,225.00 Jewellery 82.90 Mumbai 417.00 385.20
Vishal Mega Mart Limited Dec 2024 8,000.00 Retail - Supermarket 69.19 Gurugram 78.00 104.24
Suraksha Diagnostic Limited Dec 2024 846.25 Healthcare - Hospitals and Clinic 74.89 Kolkata 441.00 259.20
Sagility India Limited Nov 2024 2,106.60 Healthcare 61.52 Bangalore 30.00 42.91
Unicommerce eSolutions Limited Aug 2024 276.57 Information Technology - SaaS 84.59 New Delhi 108.00 119.08
Bansal Wire Industries Limited Jul 2024 745.00 Metal 50.86 New Delhi 256.00 387.15
Stanley Lifestyles Limited Jun 2024 537.02 Furniture 84.40 Bangalore 369.00 332.70
DEE Development Engineers Limited Jun 2024 418.01 Engineering - EPC 73.33 Faridabad 203.00 242.06
Bharti Hexacom Limited Apr 2024 4,275.00 Telecom 75.85 New Delhi 570.00 1,463.80
Avalon Technologies Limited Apr 2023 865.00 Electric Equipments - OEM 55.54 Chennai 436.00 757.55
Kaynes Technology India Ltd Nov 2022 857.82 Electric Equipments 84.95 Mysore 587.00 4,747.35
DCX Systems Limited Nov 2022 500.00 Defence 90.00 Bangalore 207.00 229.19
Syrma SGS Technology Ltd Aug 2022 840.00 Electric Equipments 50.69 Chennai 220.00 459.90
Aether Industries Limited Jun 2022 808.04 Chemical - Speciality 72.30 Surat 642.00 831.00
Ethos Limited May 2022 472.29 Retail 96.00 Parwanoo 878.00 2,484.65
Campus Activewear Limited May 2022 1,400.14 Footwear 78.49 New Delhi 292.00 230.55
Data Patterns (India) Limited Dec 2021 588.22 Information Technology - Hardware 65.36 Chennai 585.00 1,689.95
Medplus Health Services Limited Dec 2021 1,398.30 Pharmaceutical 71.52 Hyderabad 796.00 760.00
C.E. Info systems limited Dec 2021 1,039.61 Information Technology - SaaS 58.79 New Delhi 1,033.00 1,689.35
Tega Industries Limited Dec 2021 619.23 Minerals 63.18 Kolkata 453.00 1,475.70
Aptus Value Housing Finance India Ltd Aug 2021 2,780.05 Banking and Finance 65.49 Chennai 353.00 294.75
CarTrade Tech Limited Aug 2021 2,998.51 Online Service Provider 73.38 Mumbai 1,618.00 1,644.95
Krsnaa Diagnostics Limited Aug 2021 1,213.33 Healthcare - Hospitals and Clinic 80.91 Pune 954.00 787.90
Windlas Biotech Limited Aug 2021 401.54 Pharmaceutical 64.00 Dehradun 460.00 1,040.50
Sona BLW Precision Forgings Limited Jun 2021 5,550.00 Automobile - Forging and Casting 78.86 New Delhi 291.00 461.20
Anupam Rasayan India Limited Mar 2021 760.00 Chemical - Speciality 86.45 Surat 555.00 759.40
Aavas Financiers Limited Oct 2018 1,734.07 Banking and Finance 56.00 Jaipur 821.00 2,084.05
Hindustan Aeronautics Limited Mar 2018 4,144.06 Defence 53.00 Bangalore 1,215.00 4,177.45
HDFC Standard Life Insurance Company Limited Nov 2017 8,695.01 Insurance 52.00 Mumbai 290.00 685.70
Khadim India Limited Nov 2017 543.06 Footwear 63.29 Kolkata 750.00 288.95
SBI Life Insurance Company Limited Oct 2017 8,400.00 Insurance 55.00 Mumbai 700.00 1,547.85
Security and Intelligence Services (India) Limited Aug 2017 779.58 Human Resources and Manpower 65.00 Patna 815.00 324.90
GTPL Hathway Limited Jul 2017 484.80 Telecom 88.00 Ahmedabad 170.00 108.26
Varun Beverages Limited Nov 2016 1,112.50 FMCG - Snacks and Beverages 83.00 New Delhi 445.00 539.65
TeamLease Services Limited Feb 2016 423.68 Human Resources and Manpower 60.00 Mumbai 850.00 1,810.25
Prabhat Dairy Limited Sep 2015 356.19 Agro - Food Products 64.00 Ahmednagar 115.00 0.00
Manpasand Beverages Limited Jul 2015 400.00 FMCG - Snacks and Beverages 85.00 Vadodara 320.00 0.00
RDB Rasayans Limited Oct 2011 35.55 Packaging & Disposables 72.00 Kolkata 79.00 81.29
Hindustan Media Ventures Limited Jul 2010 270.00 Advertising and Media 67.21 Patna 166.00 82.07
Jaypee Infratech Limited May 2010 1,650.00 Infrastructure 68.40 New Delhi 102.00 0.00
Tarapur Transformers Limited May 2010 63.75 Electric Equipments - Transformers 53.19 Mumbai 75.00 33.94
Birla Shloka Edutech Limited Jan 2010 24.78 Education - Edtech 96.00 Mumbai 50.00 0.00
Indiabulls Power Limited Oct 2009 1,529.10 Power and Energy 71.43 New Delhi 45.00 9.79
Euro Multivision Limited Oct 2009 66.00 Electric Equipments 61.47 Mumbai 75.00 0.00
Mundra Port and Special Economic Zone Limited Nov 2007 1,771.00 Logistics 82.60 Ahmedabad 440.00 1,182.95
Empee Distilleries Limited Nov 2007 192.00 FMCG - Snacks and Beverages 63.90 Chennai 400.00 0.00
Religare Enterprises Limited Nov 2007 140.16 Banking and Finance 72.73 New Delhi 185.00 234.99
Puravankara Projects Limited Aug 2007 858.70 Real Estate 58.91 Mumbai 400.00 247.15
TAKE Solutions Limited Aug 2007 153.30 Information Technology - Data Solutions 63.48 Chennai 730.00 6.69
Raj Television Network Limited Mar 2007 91.70 Advertising and Media 77.00 Chennai 257.00 84.86
Firstsource Solutions Limited Feb 2007 443.52 Outsourcing - BPO 52.00 Mumbai 64.00 340.25

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Upcoming IPOs in India

The below mentioned are the forthcoming IPOs for which DRHPs have been filed recently and are in process of approval by the BSE or NSE exchange.

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*The Revenue and PAT figures mentioned above are on the Annualised basis.

FAQs

The Price-to-Earnings (P/E) multiple helps investors evaluate whether an SME IPO is fairly priced by comparing its valuation to industry peers. A high P/E suggests growth potential but may indicate overvaluation, while a low P/E signals affordability or weaker earnings prospects. 

The P/E ratio is calculated as: 

P/E Ratio = Issue Price ÷ Earnings Per Share (EPS) 

It measures how much investors are willing to pay for each rupee of earnings, helping assess IPO attractiveness compared to industry benchmarks and financial performance. 

Understand Importance of PE ratio in Detail. 

A good P/E ratio depends on industry standards and growth prospects. Generally, a lower P/E (5-15x) suggests affordability, while a higher P/E (20x+) may indicate growth potential but could also signal overvaluation, requiring further analysis. 

The Price-to-Earnings (P/E) ratio is a valuation metric showing how much investors are willing to pay per rupee of earnings. It helps compare a company’s market price to its profits, guiding investment decisions in IPOs and stock market investments. 

IPO valuation considers financial performance, P/E ratio, industry comparison, revenue growth, debt levels, and market demand. Other factors include management quality, economic conditions, and investor sentiment, influencing whether an IPO is attractively priced for potential investors.