214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9804.70 Crs.  Total funds raised in 2,025.00

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

Spread X Securities Private Limited Market Maker

Spread X Securities Private Limited is a SEBI registered entity which offered their services in 45 IPO, out of which 28 IPO are currently trading in gain and 17 in loss. It provides liquidity in the market by continuously offering to buy (bid) and sell (ask) securities during market hours.

SME IPOs assisted so far
45 (₹ 1,985.54 Cr.)
IPOs in Gain 28
IPOs in Loss 17

IPO Performance Report of Kfin Technologies Market Maker

NAME OFFER PRICE LISTING PRICE LISTING GAIN CMP CMP %
Connplex Cinemas IPO
Financial Report >> 		₹ 177.00 ₹ 195.00 10.17% ₹ 206 16%
BLT Logistics IPO
Financial Report >> 		₹ 75.00 ₹ 90.95 21.27% ₹ 60 -20%
Monarch Surveyors IPO
Financial Report >> 		₹ 250.00 ₹ 421.25 68.50% ₹ 206 -18%
Cryogenic OGS IPO
Financial Report >> 		₹ 47.00 ₹ 89.30 90.00% ₹ 165 251%
Identixweb Limited IPO
Financial Report >> 		₹ 54.00 ₹ 55.00 1.85% ₹ 69 28%
Solarium Green IPO
Financial Report >> 		₹ 191.00 ₹ 202.00 5.76% ₹ 325 70%
H.M. Electro IPO
Financial Report >> 		₹ 75.00 ₹ 81.00 8.00% ₹ 61 -19%
B.R.Goyal Infrastructure IPO
Financial Report >> 		₹ 135.00 ₹ 135.75 0.56% ₹ 141 4%
Parmeshwar Metal IPO
Financial Report >> 		₹ 61.00 ₹ 84.50 38.52% ₹ 67 10%
Anya Polytech IPO
Financial Report >> 		₹ 14.00 ₹ 17.10 22.14% ₹ 24 71%
Toss the IPO
Financial Report >> 		₹ 182.00 ₹ 345.80 90.00% ₹ 299 64%
Nisus Finance IPO
Financial Report >> 		₹ 180.00 ₹ 236.25 31.25% ₹ 351 95%
C2C Advanced IPO
Financial Report >> 		₹ 226.00 ₹ 450.85 99.49% ₹ 617 173%
SD Retail IPO
Financial Report >> 		₹ 131.00 ₹ 145.00 10.69% ₹ 114 -13%
Popular Foundations IPO
Financial Report >> 		₹ 37.00 ₹ 37.07 0.19% ₹ 28 -25%
Mach Conferences IPO
Financial Report >> 		₹ 225.00 ₹ 295.55 31.36% ₹ 115 -49%
Indian Phosphate IPO
Financial Report >> 		₹ 99.00 ₹ 178.70 80.51% ₹ 50 -49%
Positron Energy IPO
Financial Report >> 		₹ 250.00 ₹ 498.75 99.50% ₹ 334 34%
Ashapura Logistics IPO
Financial Report >> 		₹ 144.00 ₹ 185.00 28.47% ₹ 71 -51%
V.L.Infraprojects Limited IPO
Financial Report >> 		₹ 42.00 ₹ 83.75 99.40% ₹ 35 -16%
Sati Poly IPO
Financial Report >> 		₹ 130.00 ₹ 259.35 99.50% ₹ 67 -48%
Dindigul Farm IPO
Financial Report >> 		₹ 54.00 ₹ 107.73 99.50% ₹ 18 -66%
United Cotfab IPO
Financial Report >> 		₹ 70.00 ₹ 78.75 12.50% ₹ 24 -66%
Beacon Trusteeship IPO
Financial Report >> 		₹ 60.00 ₹ 94.50 57.50% ₹ 63 4%
Piotex Industries IPO
Financial Report >> 		₹ 94.00 ₹ 114.30 21.60% ₹ 67 -29%
Winsol Engineers IPO
Financial Report >> 		₹ 75.00 ₹ 383.25 411.00% ₹ 183 143%
Emmforce Autotech IPO
Financial Report >> 		₹ 98.00 ₹ 195.51 99.50% ₹ 160 63%
Greenhitech Ventures IPO
Financial Report >> 		₹ 50.00 ₹ 99.75 99.50% ₹ 118 136%
TAC Infosec IPO
Financial Report >> 		₹ 106.00 ₹ 304.50 187.26% ₹ 1,196 1028%
KP Green IPO
Financial Report >> 		₹ 144.00 ₹ 210.00 45.83% ₹ 553 284%
Pratham EPC IPO
Financial Report >> 		₹ 75.00 ₹ 118.95 58.60% ₹ 137 82%
VR Infraspace IPO
Financial Report >> 		₹ 85.00 ₹ 87.40 2.82% ₹ 200 135%
Rudra Gas IPO
Financial Report >> 		₹ 63.00 ₹ 125.68 99.49% ₹ 82 31%
Fonebox Retail IPO
Financial Report >> 		₹ 70.00 ₹ 210.00 200.00% ₹ 98 40%
Konstelec Engineers IPO
Financial Report >> 		₹ 70.00 ₹ 220.50 215.00% ₹ 59 -16%
Australian Premium IPO
Financial Report >> 		₹ 54.00 ₹ 147.00 172.22% ₹ 474 777%
Indifra Limited IPO
Financial Report >> 		₹ 65.00 ₹ 72.00 10.77% ₹ 16 -75%
Benchmark Computer IPO
Financial Report >> 		₹ 66.00 ₹ 80.00 21.21% ₹ 30 -55%
Sheetal Universal IPO
Financial Report >> 		₹ 70.00 ₹ 75.40 7.71% ₹ 141 102%
Rajgor Castor IPO
Financial Report >> 		₹ 50.00 ₹ 61.10 22.20% ₹ 27 -46%
Arvind and IPO
Financial Report >> 		₹ 45.00 ₹ 80.05 77.89% ₹ 46 3%
Karnika Industries IPO
Financial Report >> 		₹ 76.00 ₹ 82.60 8.68% ₹ 182 139%
Hi-Green Carbon IPO
Financial Report >> 		₹ 75.00 ₹ 80.85 7.80% ₹ 219 192%
Kody Technolab IPO
Financial Report >> 		₹ 160.00 ₹ 178.50 11.56% ₹ 678 323%
Chavda Infra IPO
Financial Report >> 		₹ 65.00 ₹ 86.45 33.00% ₹ 104 59%

Merchant Banker wise SME IPO

Beeline Capital Advisors Private Limited 43 (₹1866.60 Cr.)
Srujan Alpha Capital Advisors Llp 1 (₹19.87 Cr.)
Beeline Capital Advisors Private Limited 1 (₹99.07 Cr.)

Latest SME IPOs

Connplex Cinemas

Ahmedabad   |   Film and Animation - VFX

Listing Date: 14 August 2025

IPO Size: 90.27Cr.

Subscribed: 35.67x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

BLT Logistics

New Delhi   |   Logistics

Listing Date: 11 August 2025

IPO Size: 9.72Cr.

Subscribed: 560.69x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Monarch Surveyors and Engineering Consultants

Pune   |   Engineering - Tech Solutions

Listing Date: 29 July 2025

IPO Size: 93.75Cr.

Subscribed: 250.65x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Cryogenic OGS

Vadodara   |   Oil and Gas

Listing Date: 10 July 2025

IPO Size: 17.77Cr.

Subscribed: 694.90x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Identixweb

Surat   |   Information Technology - SaaS

Listing Date: 3 April 2025

IPO Size: 16.63Cr.

Subscribed: 26.15x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Solarium Green Energy

Ahmedabad   |   Solar

Listing Date: 13 February 2025

IPO Size: 105.04Cr.

Subscribed: 8.83x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

H.M. Electro Mech

Ahmedabad   |   Engineering - EPC

Listing Date: 31 January 2025

IPO Size: 27.74Cr.

Subscribed: 91.75x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

B.R.Goyal Infrastructure

Indore   |   Infrastructure

Listing Date: 14 January 2025

IPO Size: 85.21Cr.

Subscribed: 118.08x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Parmeshwar Metal

Gandhinagar   |   Metal

Listing Date: 9 January 2025

IPO Size: 24.74Cr.

Subscribed: 607.07x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Anya Polytech & Fertilizers

New Delhi   |   Chemical - Pesticides

Listing Date: 2 January 2025

IPO Size: 44.80Cr.

Subscribed: 439.80x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Toss the Coin

Chennai   |   Information Technology - Data Solutions

Listing Date: 17 December 2024

IPO Size: 9.17Cr.

Subscribed: 1025.76x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Nisus Finance Services Co

Mumbai   |   Banking and Finance

Listing Date: 11 December 2024

IPO Size: 114.24Cr.

Subscribed: 192.29x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

C2C Advanced Systems

Bangalore   |   Information Technology

Listing Date: 3 December 2024

IPO Size: 99.07Cr.

Subscribed: 125.35x

Merchant Banker(s):
Mark Corporate Advisors Private
IPO Information

SD Retail

Ahmedabad   |   Textiles

Listing Date: 27 September 2024

IPO Size: 64.98Cr.

Subscribed: 97.08x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Popular Foundations

Chennai   |   Infrastructure

Listing Date: 24 September 2024

IPO Size: 19.87Cr.

Subscribed: 9.21x

Merchant Banker(s):
Srujan Alpha Capital Advisors Llp
IPO Information

Mach Conferences and Events

New Delhi   |   Advertising and Media - Events

Listing Date: 11 September 2024

IPO Size: 125.28Cr.

Subscribed: 196.70x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Indian Phosphate

Udaipur   |   Chemical

Listing Date: 3 September 2024

IPO Size: 67.36Cr.

Subscribed: 267.89x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Positron Energy

Gandhinagar   |   Oil and Gas

Listing Date: 20 August 2024

IPO Size: 51.21Cr.

Subscribed: 414.86x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Ashapura Logistics

Ahmedabad   |   Logistics

Listing Date: 6 August 2024

IPO Size: 52.66Cr.

Subscribed: 185.75x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

V.L.Infraprojects

Ahmedabad   |   Infrastructure

Listing Date: 30 July 2024

IPO Size: 18.52Cr.

Subscribed: 636.17x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Sati Poly Plast

Bhagalpur   |   Packaging & Disposables

Listing Date: 22 July 2024

IPO Size: 17.36Cr.

Subscribed: 499.13x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Dindigul Farm Product

Dindigul   |   Agro

Listing Date: 27 June 2024

IPO Size: 34.83Cr.

Subscribed: 202.35x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

United Cotfab

Ahmedabad   |   Textiles

Listing Date: 24 June 2024

IPO Size: 36.29Cr.

Subscribed: 107.16x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Beacon Trusteeship

Mumbai   |   Banking and Finance

Listing Date: 4 June 2024

IPO Size: 32.52Cr.

Subscribed: 465.20x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Piotex Industries

Pune   |   Textiles - Fabrics

Listing Date: 17 May 2024

IPO Size: 14.47Cr.

Subscribed: 107.44x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Winsol Engineers

Jamnagar   |   Power and Energy

Listing Date: 14 May 2024

IPO Size: 23.36Cr.

Subscribed: 682.14x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Emmforce Autotech

Panchkula   |   Engineering - Automotive

Listing Date: 30 April 2024

IPO Size: 53.90Cr.

Subscribed: 364.37x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Greenhitech Ventures

Varanasi   |   Oil and Gas

Listing Date: 22 April 2024

IPO Size: 6.30Cr.

Subscribed: 769.95x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

TAC Infosec

Mohali   |   Information Technology - SaaS

Listing Date: 5 April 2024

IPO Size: 29.99Cr.

Subscribed: 422.03x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

KP Green Engineering

Surat   |   Steel

Listing Date: 22 March 2024

IPO Size: 189.50Cr.

Subscribed: 29.50x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Pratham EPC Projects

Ahmedabad   |   Engineering - EPC

Listing Date: 18 March 2024

IPO Size: 36.00Cr.

Subscribed: 178.54x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

VR Infraspace

Vadodara   |   Real Estate

Listing Date: 12 March 2024

IPO Size: 20.40Cr.

Subscribed: 93.41x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Rudra Gas Enterprise

Ahmedabad   |   Oil and Gas

Listing Date: 15 February 2024

IPO Size: 14.16Cr.

Subscribed: 350.75x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Fonebox Retail

Ahmedabad   |   Retail

Listing Date: 2 February 2024

IPO Size: 20.37Cr.

Subscribed: 659.42x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Konstelec Engineers

Mumbai   |   Agro - Plantation

Listing Date: 30 January 2024

IPO Size: 28.70Cr.

Subscribed: 341.80x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Australian Premium Solar (India)

Sabarkantha   |   Solar - Panels

Listing Date: 18 January 2024

IPO Size: 28.08Cr.

Subscribed: 464.19x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Indifra

Anand   |   Infrastructure

Listing Date: 29 December 2023

IPO Size: 14.04Cr.

Subscribed: 7.21x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Benchmark Computer Solutions

Mumbai   |   Information Technology - Data Solutions

Listing Date: 21 December 2023

IPO Size: 12.24Cr.

Subscribed: 484.49x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Sheetal Universal

Rajkot   |   Agro - Food Products

Listing Date: 11 December 2023

IPO Size: 23.80Cr.

Subscribed: 179.20x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Rajgor Castor Derivatives

Ahmedabad   |   Agro - Food Products

Listing Date: 31 October 2023

IPO Size: 47.81Cr.

Subscribed: 107.43x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Arvind and Company Shipping Agencies

Jamnagar   |   Logistics

Listing Date: 25 October 2023

IPO Size: 14.74Cr.

Subscribed: 385.03x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Karnika Industries

Kolkata   |   Textiles - Fabrics

Listing Date: 12 October 2023

IPO Size: 25.07Cr.

Subscribed: 3.07x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Hi-Green Carbon

Rajkot   |   Recycling - Waste

Listing Date: 28 September 2023

IPO Size: 52.80Cr.

Subscribed: 168.92x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Kody Technolab

Ahmedabad   |   Information Technology - Data Solutions

Listing Date: 27 September 2023

IPO Size: 27.52Cr.

Subscribed: 51.55x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Chavda Infra

Ahmedabad   |   Real Estate

Listing Date: 25 September 2023

IPO Size: 43.26Cr.

Subscribed: 180.06x

Merchant Banker(s):
Beeline Capital Advisors Private
IPO Information

Other Market Makers

Hem Finlease Private Limited

No. of SME IPO: 98

Total IPO Size: ₹ 3353.81 Cr.

IPOs in Gain: 64
(based on CMP)

Detailed Review →
Nikunj Stock Brokers Limited

No. of SME IPO: 85

Total IPO Size: ₹ 1674.68 Cr.

IPOs in Gain: 48
(based on CMP)

Detailed Review →
Rikhav Securities Limited

No. of SME IPO: 80

Total IPO Size: ₹ 2433.44 Cr.

IPOs in Gain: 44
(based on CMP)

Detailed Review →
Aryaman Capital Markets Limited

No. of SME IPO: 72

Total IPO Size: ₹ 1236.78 Cr.

IPOs in Gain: 42
(based on CMP)

Detailed Review →
Pantomath Stock Brokers Private Limited

No. of SME IPO: 63

Total IPO Size: ₹ 1128.86 Cr.

IPOs in Gain: 31
(based on CMP)

Detailed Review →
Choice Equity Broking Private Limited

No. of SME IPO: 61

Total IPO Size: ₹ 1003.54 Cr.

IPOs in Gain: 29
(based on CMP)

Detailed Review →
NNM Securities Private Limited

No. of SME IPO: 58

Total IPO Size: ₹ 1463.14 Cr.

IPOs in Gain: 22
(based on CMP)

Detailed Review →
Gretex Share Broking Private Limited

No. of SME IPO: 55

Total IPO Size: ₹ 1192.43 Cr.

IPOs in Gain: 31
(based on CMP)

Detailed Review →
Shreni Shares Limited

No. of SME IPO: 51

Total IPO Size: ₹ 1016.82 Cr.

IPOs in Gain: 33
(based on CMP)

Detailed Review →
Giriraj Stock Broking Private Limited

No. of SME IPO: 49

Total IPO Size: ₹ 2116.31 Cr.

IPOs in Gain: 21
(based on CMP)

Detailed Review →
Beeline Broking Limited

No. of SME IPO: 46

Total IPO Size: ₹ 553.74 Cr.

IPOs in Gain: 22
(based on CMP)

Detailed Review →
Guiness Securities Limited

No. of SME IPO: 43

Total IPO Size: ₹ 489.54 Cr.

IPOs in Gain: 18
(based on CMP)

Detailed Review →

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