114 Total SME IPOs listed in 2025

5,174.44 Crs. Total funds raised in 2025

79 SME IPOs listed with Gain in 2025

35 SME IPOs listed with loss in 2025

114 Total SME IPOs listed in 2025

5,174.44 Crs. Total funds raised in 2025

79 SME IPOs listed with Gain in 2025

35 SME IPOs listed with loss in 2025

114 Total SME IPOs listed in 2025

5,174.44 Crs. Total funds raised in 2025

79 SME IPOs listed with Gain in 2025

35 SME IPOs listed with loss in 2025

114 Total SME IPOs listed in 2025

5174.44 Crs. Total funds raised in 2,025.00

79 SME IPOs listed with Gain in 2025

35 SME IPOs listed with loss in 2025

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Summary

PE Ratio^*
Highest	45.00
Median	16.09
Lowest	3.00

IPO Size (Cr.)
Highest	48.18
Median	13.31
Lowest	1.30

*IPOs with Extreme PE (50+) are excluded from the above calculations.
Above summary is for reference only as the same is based on the limited data set.

SME Merchant Banker Performance Tracker 2019

SME IPO Performance of Merchant Bankers in India on NSE Emerge and BSE SME for IPO 2019. List of merchant banks with number of SME IPO assisted, Total Fundraise, Average PE Ratio, IPO listed in Gain/loss and Current IPO Performance of the BRLM. Latest SME IPO Performance of Merchant banking company for IPO 2019. IPO Lead managers help business owners in the IPO Listing Process, Pre IPO Funding and IPO valuation for a Successful IPO Listing. Merchant Banker services guide the company in the IPO process and help in DRHP filing, RHP and Final Prospectus.

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Merchant Banker	No of IPOs so far	Total funds raised (Cr.)	Avg PE Ratio	IPO Listed in Gain/Loss	CMP vs Offer Price (Gain/Loss)	CMP vs Listing Price (Gain/Loss)	SME Migrated to Mainboard
Pantomath Capital Advisors Private Limited	7	148.31	15.04	6 (86%) 1 (14%)	3 (43%) 4 (57%)	3 (43%) 4 (57%)	4 (57%)
Aryaman Financial Services Limited	6	39.36	10.96	4 (67%) 2 (33%)	4 (67%) 2 (33%)	4 (67%) 2 (33%)	2 (33%)
Finshore Management Services Limited	6	62.03	13.98	5 (83%) 1 (17%)	4 (67%) 2 (33%)	3 (50%) 3 (50%)	2 (33%)
Fedex Securities Private Limited	5	124.55	21.66	4 (80%) 1 (20%)	2 (40%) 3 (60%)	2 (40%) 3 (60%)	3 (60%)
Hem Securities Limited	4	14.45	11.40	2 (50%) 2 (50%)	2 (50%) 2 (50%)	2 (50%) 2 (50%)	2 (50%)
Navigant Corporate Advisors Limited	3	34.85	21.00	2 (67%) 1 (33%)	1 (33%) 2 (67%)	1 (33%) 2 (67%)	1 (33%)
Fast Track Finsec Private Limited	3	30.10	10.27	2 (67%) 1 (33%)	2 (67%) 1 (33%)	2 (67%) 1 (33%)	1 (33%)
Gretex Corporate Services Limited	2	4.57	10.24	2 (100%) 0 (0%)	2 (100%) 0 (0%)	2 (100%) 0 (0%)	1 (50%)
Share India Capital Services Private Limited	2	12.38	10.50	1 (50%) 1 (50%)	0 (0%) 2 (100%)	0 (0%) 2 (100%)	1 (50%)
Guiness Corporate Advisors Private Limited	1	12.66	20.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%)
Inventure Merchant Banker Services Private Limited	1	3.65	45.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%)
Swastika Investmart Limited	1	7.21	40.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%)
First Overseas Capital Limited	1	4.49	N/A	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)	0 (0%)
Mark Corporate Advisors Private Limited	1	12.84	10.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%)
Monarch Networth Capital Limited	1	39.78	21.00	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)	1 (100%)
Holani Consultants Private Limited	1	6.58	6.37	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)	1 (100%)
Beeline Capital Advisors Private Limited	1	10.51	30.00	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)	1 (100%)
Vivro Financial Services Private Limited	1	39.94	18.70	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%)
Bonanza Portfolio Limited	1	10.62	13.33	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)	0 (0%)
Smc Capitals Limited	1	42.48	21.00	0 (0%) 1 (100%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)	0 (0%)
Capitalsquare Advisors Private Limited	1	3.98	17.00	0 (0%) 1 (100%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)	0 (0%)
Bcb Brokerage Private Limited	1	3.60	N/A	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)	0 (0%)

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Summary

PE Ratio^*
Highest	45.00
Median	16.09
Lowest	3.00

IPO Size (Cr.)
Highest	48.18
Median	13.31
Lowest	1.30

*IPOs with Extreme PE (50+) are excluded from the above calculations.
Above summary is for reference only as the same is based on the limited data set.

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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.