43  Total SME IPOs listed in 2025

1993.07 Crs.  Total funds raised in 2025

32  SME IPOs listed with Gain in 2025

11  SME IPOs listed with loss in 2025

43  Total SME IPOs listed in 2025

1993.07 Crs.  Total funds raised in 2025

32  SME IPOs listed with Gain in 2025

11  SME IPOs listed with loss in 2025

43  Total SME IPOs listed in 2025

1993.07 Crs.  Total funds raised in 2025

32  SME IPOs listed with Gain in 2025

11  SME IPOs listed with loss in 2025

43  Total SME IPOs listed in 2025

1993.07 Crs.  Total funds raised in 2025

32  SME IPOs listed with Gain in 2025

11  SME IPOs listed with loss in 2025

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Summary

PE Ratio*
Highest 49.02
Median 18.89
Lowest 4.49
IPO Size (Cr.)
Highest 27870.16
Median 3,497.50
Lowest 144.18
  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.

Mainboard IPOs by Profitability

Analyse the financial performance of Mainboard IPOs with key metrics such as IPO size, IPO category, city, PAT, revenue, and PE ratio. Our curated table provides a detailed list of IPOs to assist businesses and investors in making strategic decisions. Supported by seasoned IPO consultants, we simplify the IPO listing process and ensure compliance with industry standards. Leverage data-driven insights and expert guidance to explore profitable opportunities and position your business for long-term success in the market.

Company Name IPO Year (Listed) IPO Size (Cr.) Sector P/E Annualized Revenue Annualised PAT Net margin %
Hexaware Technologies Limited Feb 2025 8750.00 Information Technology 17742.60 1706.60 10%
International Gemmological Institute (India) Limited Dec 2024 4225.00 Jewellery 82.90 1238.98 652.12 53%
Vishal Mega Mart Limited Dec 2024 8000.00 Retail - Supermarket 69.19 10106.84 300.30 3%
NTPC Green Energy Limited Nov 2024 10000.00 Power and Energy 259.56 2265.48 350.60 15%
Afcons Infrastructure Limited Nov 2024 5430.00 Infrastructure 46.48 12853.88 366.36 3%
Waaree Energies Limited Oct 2024 4321.44 Solar 26.76 13985.64 1604.52 11%
Hyundai Motor India Limited Oct 2024 27870.16 Automobile 26.73 70271.92 5958.60 8%
Northern Arc Capital Limited Sep 2024 777.00 Banking and Finance 13.36 1906.03 317.69 17%
Bajaj Housing Finance Limited Sep 2024 6560.00 Banking and Finance 30.20 8834.92 1930.44 22%
Premier Energies Limited Sep 2024 2830.40 Solar - Panels 25.59 6675.16 792.64 12%
Ceigall India Limited Aug 2024 1252.66 Infrastructure 22.91 3066.19 304.91 10%
Emcure Pharmaceuticals Limited Jul 2024 1952.03 Pharmaceutical 36.07 6715.24 527.58 8%
Aadhar Housing Finance Limited May 2024 3000.00 Banking and Finance 18.39 2526.89 730.51 29%
Indegene Limited May 2024 1841.76 Pharmaceutical 33.53 2626.33 322.53 12%
Bharti Hexacom Limited Apr 2024 4275.00 Telecom 75.85 7227.73 375.73 5%
Jana Small Finance Bank Limited Feb 2024 570.00 Banking and Finance 16.36 4431.14 426.44 10%
Tata Technologies Limited Nov 2023 3042.51 Information Technology 43.78 5174.84 703.80 14%
Indian Renewable Energy Development Agency Ltd Nov 2023 2150.21 Power and Energy 127.00 4640.92 1158.64 25%
ESAF Small Finance Bank Limited Nov 2023 463.00 Banking and Finance 18.69 3967.12 519.84 13%
Cello World Limited Nov 2023 1900.00 Paper and Stationery 41.69 1919.52 331.32 17%
JSW Infrastructure Limited Oct 2023 2800.00 Logistics 0.00 3372.85 749.51 22%
Utkarsh Small Finance Bank Limited Jul 2023 500.00 Banking and Finance 0.00 2804.29 404.50 14%
Nexus Select Trust- REIT May 2023 3200.00 Real Estate - REIT 0.00 1997.80 342.69 17%
Mankind Pharma Limited May 2023 4326.36 Pharmaceutical 0.00 9037.09 1346.92 15%
Archean Chemical Industries Limited Nov 2022 1462.31 Chemical - Speciality 16.78 1635.28 337.64 21%
Five Star Business Finance Limited Nov 2022 1593.45 Banking and Finance 24.76 1356.24 557.72 41%
Archean Chemical Industries Limited Nov 2022 1462.31 Chemical 16.78 1635.28 337.64 21%
Fusion Micro Finance Limited Nov 2022 1103.99 Banking and Finance 12.33 1441.80 300.40 21%
Tamilnad Mercantile Bank Limited Sep 2022 807.84 Banking and Finance 9.22 4656.44 901.90 19%
Paradeep Phosphates Limited May 2022 1501.73 Chemical - Pesticides 7.07 7964.92 483.71 6%
Life Insurance Corporation of India (LIC) May 2022 21008.48 Insurance 201.91 683038.95 2190.41 0%
Ruchi Soya Industries Limited Apr 2022 4300.00 FMCG 30.86 70432.76 2287.52 3%
Adani Wilmar Limited Feb 2022 3600.00 FMCG 44.66 49914.58 669.66 1%
Aditya Birla Sun Life AMC Limited Oct 2021 2768.26 Banking and Finance 33.09 1345.00 619.76 46%
Chemplast Sanmar Limited Aug 2021 3850.00 Chemical 20.85 3815.11 410.24 11%
Aptus Value Housing Finance India Ltd Aug 2021 2780.05 Banking and Finance 65.49 655.24 266.94 41%
Glenmark Life Sciences Limited Aug 2021 1513.60 Pharmaceutical 25.09 1885.98 351.58 19%
G R Infraprojects Limited Jul 2021 963.28 Engineering - EPC 16.73 7906.94 953.22 12%
Shyam Metalics and Energy Limited Jun 2021 909.00 Metal 12.83 5327.51 608.43 11%
POWERGRID Infrastructure Investment Trust May 2021 7734.99 Infrastructure 0.00 1345.44 449.52 33%
Indian Railway Finance Corporation Limited Jan 2021 4633.38 Banking and Finance 9.00 14769.66 3773.68 26%
Gland Pharma Limited Nov 2020 6479.55 Pharmaceutical 19.50 3665.16 1255.60 34%
UTI Asset Management Company Limited Oct 2020 2159.88 Banking and Finance 17.37 1084.28 404.32 37%
Mazagon Dock Shipbuilders Limited Oct 2020 443.69 Defence 6.39 5535.31 477.06 9%
Mindspace Business Parks Aug 2020 4500.00 Real Estate 0.00 2026.20 513.90 25%
SBI Cards and Payment Services Limited Mar 2020 10354.77 Banking and Finance 45.80 9653.55 1548.28 16%
Ujjivan Small Finance Bank Limited Dec 2019 750.00 Banking and Finance 17.00 2869.71 374.22 13%
IRCTC Limited Oct 2019 645.12 Railway 18.80 1956.66 272.60 14%
Sterling and Wilson Solar Limited Aug 2019 3145.16 Solar 19.60 8449.93 638.23 8%
Spandana Sphoorty Financial Limited Aug 2019 1202.34 Banking and Finance 17.60 1036.28 308.75 30%
Polycab India Limited Apr 2019 1346.00 Cables and Wires 16.75 7414.73 477.63 6%
Rail Vikas Nigam Limited Apr 2019 481.57 Railway 8.64 7540.70 458.48 6%
Embassy Office Parks Apr 2019 4750.00 Real Estate - REIT 0.00 1990.97 380.31 19%
IRCON International Limited Sep 2018 470.49 Infrastructure 10.85 4212.40 411.58 10%
HDFC Asset Management Company Limited Aug 2018 2800.33 Banking and Finance 32.00 1867.25 721.62 39%
Varroc Engineering Limited Jul 2018 1945.77 Engineering - Automotive 30.00 10417.07 450.78 4%
RITES Limited Jul 2018 460.51 Chemical 11.00 1414.75 336.72 24%
ICICI Securities Limited Apr 2018 4016.97 Banking and Finance 31.00 1792.92 532.12 30%
Hindustan Aeronautics Limited Mar 2018 4144.06 Defence 53.00 11331.80 782.00 7%
Bandhan Bank Limited Mar 2018 4473.02 Banking and Finance 35.00 5272.68 1276.93 24%
Bharat Dynamics Limited Mar 2018 960.94 Defence 23.00 4380.50 345.18 8%
HDFC Standard Life Insurance Company Limited Nov 2017 8695.01 Insurance 52.00 1184.42 1108.28 94%
The New India Assurance Company Limited Nov 2017 9600.00 Insurance 32.00 2405.72 1997.64 83%
Reliance Nippon Life Asset Management Limited Nov 2017 1542.24 Banking and Finance 43.90 1579.20 351.16 22%
General Insurance Corporation of India Oct 2017 11175.84 Insurance 31.19 2691.68 2216.88 82%
Godrej Agrovet Limited Oct 2017 1157.31 Agro 30.00 5477.68 297.16 5%
SBI Life Insurance Company Limited Oct 2017 8400.00 Insurance 55.00 25553.48 1253.80 5%
ICICI Lombard General Insurance Company Limited Sep 2017 5700.94 Insurance 35.00 7527.52 857.36 11%
Cochin Shipyard Limited Aug 2017 1442.01 Engineering - Heavy Machinery 18.80 2208.50 312.18 14%
Au Financiers (India) Limited Jul 2017 1912.51 Banking and Finance 30.00 1430.52 842.71 59%
IndiGrid InvIT Fund Jun 2017 2250.00 Power and Energy 0.00 1600.07 354.28 22%
Housing and Urban Development Corporation Limited May 2017 1224.35 Real Estate 14.00 3570.65 662.48 19%
Avenue Supermarts Limited Mar 2017 1870.00 Retail - Supermarket 36.00 11737.63 516.63 4%
BSE Limited Feb 2017 1243.43 Banking and Finance 17.00 1533.88 499.00 33%
Varun Beverages Limited Nov 2016 1112.50 FMCG - Snacks and Beverages 83.00 5078.70 426.84 8%
PNB Housing Finance Limited Nov 2016 3000.75 Banking and Finance 33.00 3453.76 384.12 11%
Endurance Technologies Limited Oct 2016 1161.73 Engineering - Automotive 20.00 5811.76 320.20 6%
ICICI Prudential Life Insurance Company Limited Sep 2016 6056.79 Insurance 0.00 14035.12 907.88 6%
L&T Technology Services Limited Sep 2016 894.40 Information Technology 35.00 3333.56 494.72 15%
RBL Bank Limited Aug 2016 1212.97 Banking and Finance 28.00 3234.85 292.49 9%
L&T Infotech Limited Jul 2016 1236.00 Information Technology 13.00 6143.02 922.18 15%
Mahanagar Gas Limited Jul 2016 1039.64 Oil and Gas 13.40 2121.63 308.69 15%
Alkem Laboratories Limited Dec 2015 1349.61 Pharmaceutical 28.00 5318.00 877.10 16%
InterGlobe Aviation Limited Nov 2015 3018.24 Aviation 10.00 17268.80 2561.76 15%
Engineers India Limited Feb 2014 505.40 Engineering - EPC 0.00 17716.84 5016.15 28%
Bharti Infratel Limited Dec 2012 4155.80 Telecom 14.44 10181.78 920.92 9%
PC Jeweller Limited Dec 2012 609.30 Jewellery 10.30 4128.48 282.60 7%
L&T Finance Holdings Limited Aug 2011 1245.00 Banking and Finance 24.80 2114.84 392.57 19%
Power Finance Corporation Limited May 2011 4578.20 Banking and Finance 14.44 3470.10 802.60 23%
Tata Steel Limited Feb 2011 3477.00 Steel 22.02 11342.72 751.68 7%
Punjab & Sind Bank Dec 2010 470.82 Banking and Finance 4.49 4326.30 506.82 12%
Shipping Corporation of India Limited Dec 2010 1164.73 Logistics 15.33 3906.20 393.40 10%
MOIL Limited Dec 2010 1237.51 Minerals 0.00 1087.85 466.34 43%
Power Grid Corporation of India Limited Nov 2010 7442.34 Power and Energy 0.00 7503.58 2040.94 27%
Coal India Limited Nov 2010 15199.44 Minerals 0.00 13300.24 12677.16 95%
Engineers India Limited Aug 2010 959.65 Engineering - EPC 21.99 2166.00 435.58 20%
Standard Chartered PLC IDR Jun 2010 2486.35 Banking and Finance 14.67 60338.60 16230.60 27%
SJVN Limited (Satluj Jal Vidyut Nigam Limited) May 2010 1062.74 Power and Energy - Hydro 0.00 2269.46 1237.24 55%
NMDC Limited Mar 2010 9930.45 Minerals 27.35 6510.00 3175.33 49%
United Bank of India Mar 2010 324.98 Banking and Finance 28.20 5551.26 462.20 8%
NTPC Limited Mar 2010 8480.10 Power and Energy 20.49 4527.28 820.13 18%
Rural Electrification Corporation Limited Mar 2010 3530.04 Power and Energy 0.00 4923.30 1378.01 28%
JSW Energy Limited Jan 2010 2700.00 Power and Energy 49.02 2440.91 846.67 35%
Oil India Limited Sep 2009 2777.25 Oil and Gas 10.10 8137.87 2230.85 27%
NHPC Limited Sep 2009 6038.55 Power and Energy - Hydro 33.33 3100.11 1075.22 35%
Birla Cotsyn (India) Limited Jul 2008 144.18 Textiles 7.40 56148.80 2569.74 5%
Rural Electrification Corporation Limited Mar 2008 1639.26 Power and Energy 10.55 3527.87 860.15 24%
Power Grid Corporation of India Limited Oct 2007 2984.45 Electric Equipments - Transformers 15.40 4203.60 1808.72 43%
Central Bank of India Aug 2007 816.00 Banking and Finance 6.31 6709.86 498.01 7%
Idea Cellular Limited Mar 2007 2125.00 Telecom 105.63 4095.83 413.12 10%
Indian Bank Mar 2007 782.15 Banking and Finance 0.00 4538.94 668.00 15%
Power Finance Corporation Limited Feb 2007 997.19 Banking and Finance 10.30 3470.10 802.60 23%

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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.

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