64  Total SME IPOs listed in 2025

2,716.42 Crs.  Total funds raised in 2025

43  SME IPOs listed with Gain in 2025

21  SME IPOs listed with loss in 2025

64  Total SME IPOs listed in 2025

2716.42 Crs.  Total funds raised in 2025

43  SME IPOs listed with Gain in 2025

21  SME IPOs listed with loss in 2025

64  Total SME IPOs listed in 2025

2716.42 Crs.  Total funds raised in 2025

43  SME IPOs listed with Gain in 2025

21  SME IPOs listed with loss in 2025

64  Total SME IPOs listed in 2025

2716.42 Crs.  Total funds raised in 2025

43  SME IPOs listed with Gain in 2025

21  SME IPOs listed with loss in 2025

Merchant Banker: Aryaman Financial Services Limited

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Summary

PE Ratio*
Highest 45.80
Median 21.96
Lowest 7.00
IPO Size (Cr.)
Highest 85.80
Median 14.67
Lowest 0.32
  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.
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Company Name City Sector IPO Size (Cr.) IPO Size Classification Exchange IPO Year (Listed) PE Ratio PE Ratio Classification Merchant Banker
NAPS Global India Limited Mumbai Textiles 11.88 Medium (10-25 Cr) BSE SME Mar 2025 19.49 Average (10-20) Aryaman Financial Services Limited
CLN Energy Limited New Delhi Engineering - Automotive 72.30 Very Large (>50 Cr) BSE SME Jan 2025 26.95 Moderately High (20-30) Aryaman Financial Services Limited
Khyati Global Ventures Limited Mumbai FMCG 18.30 Medium (10-25 Cr) BSE SME Oct 2024 18.24 Average (10-20) Aryaman Financial Services Limited
Shivam Chemicals Limited Mumbai Chemical 20.18 Medium (10-25 Cr) BSE SME Apr 2024 79.19 Extreme (50+) Aryaman Financial Services Limited
Arrowhead Seperation Engineering Limited Nashik Engineering 13.00 Medium (10-25 Cr) BSE SME Nov 2023 18.09 Average (10-20) Aryaman Financial Services Limited
Mish Designs Limited Mumbai Textiles - Fabrics 9.76 Small (5-10 Cr) BSE SME Nov 2023 75.31 Extreme (50+) Aryaman Financial Services Limited
Sunita Tools limited Mumbai Engineering 22.04 Medium (10-25 Cr) BSE SME Oct 2023 24.17 Moderately High (20-30) Aryaman Financial Services Limited
Master Components Limited Nashik Plastic and Polymer 15.43 Medium (10-25 Cr) NSE EMERGE Sep 2023 32.86 Very High (30-50) Aryaman Financial Services Limited
CFF Fluid Control Limited Raigarh Engineering - Heavy Machinery 85.80 Very Large (>50 Cr) BSE SME Jun 2023 33.54 Very High (30-50) Aryaman Financial Services Limited
Command Polymers Limited Parganas Plastic and Polymer 7.09 Small (5-10 Cr) BSE SME Mar 2023 121.74 Extreme (50+) Aryaman Financial Services Limited
Rex Sealing and Packing Industries Limited Mumbai Packaging & Disposables 8.09 Small (5-10 Cr) BSE SME Jan 2023 19.62 Average (10-20) Aryaman Financial Services Limited
EP Biocomposites Limited Goa Plastic and Polymer 6.35 Small (5-10 Cr) BSE SME Sep 2022 26.20 Moderately High (20-30) Aryaman Financial Services Limited
Rhetan TMT Limited Ahmedabad Steel - Iron 56.00 Very Large (>50 Cr) BSE SME Sep 2022 63.64 Extreme (50+) Aryaman Financial Services Limited
Modi's Navnirman Limited Mumbai Real Estate 22.68 Medium (10-25 Cr) BSE SME Jul 2022 57.32 Extreme (50+) Aryaman Financial Services Limited
SP Refractories Limited Nagpur Cement 4.92 Very Small (< 5 Cr) NSE EMERGE Mar 2022 9.94 Low (1-10) Aryaman Financial Services Limited
Fabino Life Sciences Limited New Delhi Pharmaceutical 3.24 Very Small (< 5 Cr) BSE SME Jan 2022 133.00 Extreme (50+) Aryaman Financial Services Limited
Suyog Gurbaxani Funicular Ropeways Limited Mumbai Engineering 29.50 Large (25-50 Cr) BSE SME Nov 2021 0.00 NA Aryaman Financial Services Limited
CWD Limited Mumbai Information Technology - Data Solutions 18.01 Medium (10-25 Cr) BSE SME Oct 2021 45.80 Very High (30-50) Aryaman Financial Services Limited
Gretex Corporate Services Limited Mumbai Banking and Finance 5.13 Small (5-10 Cr) BSE SME Aug 2021 27.29 Moderately High (20-30) Aryaman Financial Services Limited
Times Green Energy (India) Limited Hyderabad Agro 4.05 Very Small (< 5 Cr) BSE SME Jun 2021 59.80 Extreme (50+) Aryaman Financial Services Limited
Adeshwar Meditex Limited Mumbai Healthcare 9.75 Small (5-10 Cr) BSE SME Jun 2021 19.53 Average (10-20) Aryaman Financial Services Limited
Pavna Industries Limited Aligarh Engineering - Automotive 29.70 Large (25-50 Cr) NSE EMERGE Mar 2021 60.40 Extreme (50+) Aryaman Financial Services Limited
Net Pix Shorts Digital Media Limited Mumbai Film and Animation - VFX 2.70 Very Small (< 5 Cr) BSE SME Dec 2020 298.00 Extreme (50+) Aryaman Financial Services Limited
Atal Realtech Limited Nashik Infrastructure 10.83 Medium (10-25 Cr) NSE EMERGE Oct 2020 13.56 Average (10-20) Aryaman Financial Services Limited and Galactico Corporate Service Limited
Nirmitee Robotics India Limited Nagpur Engineering - Tech Solutions 3.24 Very Small (< 5 Cr) BSE SME Apr 2020 185.00 Extreme (50+) Aryaman Financial Services Limited
Valencia Nutrition Ltd Bangalore FMCG - Snacks and Beverages 7.23 Small (5-10 Cr) BSE SME Jan 2020 0.00 NA Aryaman Financial Services Limited
Galactico Corporate Services Ltd Nashik Banking and Finance 3.70 Very Small (< 5 Cr) BSE SME Oct 2019 9.30 Low (1-10) Aryaman Financial Services Limited
Shiv Aum Steels Ltd Mumbai Steel 15.84 Medium (10-25 Cr) NSE EMERGE Oct 2019 10.50 Average (10-20) Aryaman Financial Services Limited
Transpact Enterprises Ltd Mumbai Healthcare 1.35 Very Small (< 5 Cr) BSE SME Sep 2019 0.00 NA Aryaman Financial Services Limited
Meera Industries Limited Surat Textiles 11.75 Medium (10-25 Cr) BSE SME Jun 2019 19.00 Average (10-20) Aryaman Financial Services Limited
Roopshri Resorts Limited Raigarh Hotels and Resorts 3.60 Very Small (< 5 Cr) BSE SME Apr 2019 69.00 Extreme (50+) Aryaman Financial Services Limited and Bcb Brokerage Private Limited
Gleam Fabmat Limited New Delhi Aluminium 3.12 Very Small (< 5 Cr) BSE SME Mar 2019 16.00 Average (10-20) Aryaman Financial Services Limited
DRS Dilip Roadlines Limited Hyderabad Logistics 31.50 Large (25-50 Cr) NSE EMERGE Dec 2018 20.00 Average (10-20) Aryaman Financial Services Limited
Roni Households Limited Jalgaon Plastic and Polymer 3.00 Very Small (< 5 Cr) BSE SME Dec 2018 181.00 Extreme (50+) Aryaman Financial Services Limited
Marine Electricals (India) Limited Mumbai Electric Equipments 42.87 Large (25-50 Cr) NSE EMERGE Oct 2018 10.00 Low (1-10) Aryaman Financial Services Limited
Silgo Retail Limited Jaipur Jewellery 4.88 Very Small (< 5 Cr) NSE EMERGE Oct 2018 19.00 Average (10-20) Aryaman Financial Services Limited
Sky Gold Limited Mumbai Jewellery 25.56 Large (25-50 Cr) BSE SME Oct 2018 37.00 Very High (30-50) Aryaman Financial Services Limited
Saketh Exim Limited Mumbai Steel 9.44 Small (5-10 Cr) NSE EMERGE Aug 2018 32.00 Very High (30-50) Aryaman Financial Services Limited
Supershakti Metaliks Limited Kolkata Steel 60.01 Very Large (>50 Cr) BSE SME Jul 2018 17.00 Average (10-20) Aryaman Financial Services Limited
Ambani Organics Limited Mumbai Chemical - Speciality 9.03 Small (5-10 Cr) NSE EMERGE Jul 2018 18.00 Average (10-20) Aryaman Financial Services Limited
Jakharia Fabric Limited Mumbai Textiles 19.66 Medium (10-25 Cr) NSE EMERGE Jul 2018 29.00 Moderately High (20-30) Aryaman Financial Services Limited
Garv Industries Limited New Delhi Aluminium 3.20 Very Small (< 5 Cr) BSE SME Apr 2018 161.00 Extreme (50+) Aryaman Financial Services Limited
Giriraj Civil Developers Limited Mumbai Infrastructure 9.00 Small (5-10 Cr) NSE EMERGE Apr 2018 18.00 Average (10-20) Aryaman Financial Services Limited
Yasho Industries Limited Mumbai Chemical 28.99 Large (25-50 Cr) BSE SME Apr 2018 28.00 Moderately High (20-30) Aryaman Financial Services Limited
Uravi T and Wedge Lamps Limited Mumbai Engineering - Automotive 15.00 Medium (10-25 Cr) NSE EMERGE Mar 2018 17.00 Average (10-20) Aryaman Financial Services Limited
Advitiya Trade India Limited New Delhi Aluminium 4.31 Very Small (< 5 Cr) BSE SME Mar 2018 27.00 Moderately High (20-30) Aryaman Financial Services Limited
Shreeshay Engineers Limited Mumbai Real Estate 5.40 Small (5-10 Cr) BSE SME Mar 2018 75.00 Extreme (50+) Aryaman Financial Services Limited
CKP Leisure Limited Mumbai Hotels and Resorts 11.54 Medium (10-25 Cr) NSE EMERGE Mar 2018 20.00 Average (10-20) Aryaman Financial Services Limited
Banka BioLoo Limited Hyderabad Recycling - Waste 12.63 Medium (10-25 Cr) NSE EMERGE Feb 2018 74.00 Extreme (50+) Aryaman Financial Services Limited
Medico Remedies Limited Mumbai Pharmaceutical 10.99 Medium (10-25 Cr) BSE SME Feb 2018 52.00 Extreme (50+) Aryaman Financial Services Limited
Ashoka Metcast Limited Ahmedabad Oil and Gas 12.00 Medium (10-25 Cr) BSE SME Feb 2018 26.00 Moderately High (20-30) Aryaman Financial Services Limited
SKS Textiles Limited Mumbai Textiles 13.32 Medium (10-25 Cr) NSE EMERGE Jan 2018 21.00 Moderately High (20-30) Aryaman Financial Services Limited
Silly Monks Entertainment Limited Hyderabad Advertising and Media 15.12 Medium (10-25 Cr) NSE EMERGE Jan 2018 32.00 Very High (30-50) Aryaman Financial Services Limited
Shradha Infraprojects (Nagpur) Limited Nagpur Real Estate 18.93 Medium (10-25 Cr) NSE EMERGE Dec 2017 11.00 Average (10-20) Aryaman Financial Services Limited
Shreeji Translogistics Limited Mumbai Logistics 12.40 Medium (10-25 Cr) BSE SME Oct 2017 28.70 Moderately High (20-30) Aryaman Financial Services Limited
AKM Lace & Embrotex Limited New Delhi Textiles 4.76 Very Small (< 5 Cr) BSE SME Sep 2017 53.00 Extreme (50+) Aryaman Financial Services Limited
Geekay Wires Limited Hyderabad Cables and Wires 11.00 Medium (10-25 Cr) NSE EMERGE Aug 2017 42.00 Very High (30-50) Aryaman Financial Services Limited
CKP Products Limited Mumbai Agro - Food Products 6.24 Small (5-10 Cr) NSE EMERGE May 2017 11.00 Average (10-20) Aryaman Financial Services Limited
Escorp Asset Management Limited Mumbai Banking and Finance 3.24 Very Small (< 5 Cr) BSE SME Apr 2017 166.00 Extreme (50+) Aryaman Financial Services Limited
Octaware Technologies Limited Mumbai Information Technology - Data Solutions 8.60 Small (5-10 Cr) BSE SME Apr 2017 14.00 Average (10-20) Aryaman Financial Services Limited
Prime Customer Services Limited Ahmedabad Corporate Solutions 7.28 Small (5-10 Cr) BSE SME Mar 2017 41.00 Very High (30-50) Aryaman Financial Services Limited
Maximus International Limited Vadodara Chemical 3.77 Very Small (< 5 Cr) BSE SME Mar 2017 34.00 Very High (30-50) Aryaman Financial Services Limited
Manas Properties Limited Mumbai Real Estate 39.96 Large (25-50 Cr) BSE SME Mar 2017 79.00 Extreme (50+) Aryaman Financial Services Limited
IFL Enterprises Limited New Delhi Banking and Finance 3.25 Very Small (< 5 Cr) BSE SME Mar 2017 11.00 Average (10-20) Aryaman Financial Services Limited
Tanvi Foods (India) Limited Hyderabad FMCG - Snacks and Beverages 6.60 Small (5-10 Cr) BSE SME Mar 2017 24.00 Moderately High (20-30) Aryaman Financial Services Limited
Diksat Transworld Limited Chennai Advertising and Media 18.43 Medium (10-25 Cr) BSE SME Oct 2016 307.00 Extreme (50+) Aryaman Financial Services Limited
Valiant Organics Limted Mumbai Chemical 21.23 Medium (10-25 Cr) BSE SME Oct 2016 7.00 Low (1-10) Aryaman Financial Services Limited
Mitsu Chem Plast Limited Mumbai Plastic and Polymer 9.51 Small (5-10 Cr) BSE SME Sep 2016 17.00 Average (10-20) Aryaman Financial Services Limited
Bajaj Healthcare Limited Boisar Pharmaceutical 30.90 Large (25-50 Cr) BSE SME May 2016 14.00 Average (10-20) Aryaman Financial Services Limited
Franklin Leasing and Finance Limited New Delhi Banking and Finance 6.34 Small (5-10 Cr) BSE SME Apr 2016 68.00 Extreme (50+) Aryaman Financial Services Limited
Relicab Cable Manufacturing Limited Daman Cables and Wires 0.32 Very Small (< 5 Cr) BSE SME Mar 2016 57.00 Extreme (50+) Aryaman Financial Services Limited
K.P. Energy Limited Surat Power and Energy - Wind 6.44 Small (5-10 Cr) BSE SME Feb 2016 9.00 Low (1-10) Aryaman Financial Services Limited
Vaksons Automobiles Limited New Delhi Automobile 6.24 Small (5-10 Cr) BSE SME Oct 2015 96.00 Extreme (50+) Aryaman Financial Services Limited
AGI Infra Limited Jalandhar Real Estate 14.99 Medium (10-25 Cr) BSE SME Mar 2015 17.00 Average (10-20) Aryaman Financial Services Limited
Vishal Fabrics Limited Ahmedabad Textiles 15.63 Medium (10-25 Cr) BSE SME Aug 2014 21.00 Moderately High (20-30) Aryaman Financial Services Limited
Dhanuka Commercial Limited New Delhi Banking and Finance 4.44 Very Small (< 5 Cr) BSE SME Jun 2014 1000.00 Extreme (50+) Aryaman Financial Services Limited
Karnimata Cold Storage Limited West Bengal Agro 3.04 Very Small (< 5 Cr) BSE SME Mar 2014 100.00 Extreme (50+) Aryaman Financial Services Limited
Suyog Telematics Limited Mumbai Telecom 4.55 Very Small (< 5 Cr) BSE SME Jan 2014 12.50 Average (10-20) Aryaman Financial Services Limited
Stellar Capital Services Limited New Delhi Banking and Finance 9.00 Small (5-10 Cr) BSE SME Nov 2013 500.00 Extreme (50+) Aryaman Financial Services Limited
SRG Securities Finance Limited Udaipur Banking and Finance 5.02 Small (5-10 Cr) BSE SME Oct 2013 0.00 NA Aryaman Financial Services Limited
Kushal Tradelink Limited Ahmedabad Retail 27.75 Large (25-50 Cr) BSE SME Sep 2013 20.00 Average (10-20) Aryaman Financial Services Limited
India Finsec Limited New Delhi Banking and Finance 6.00 Small (5-10 Cr) BSE SME Jun 2013 0.00 NA Aryaman Financial Services Limited
SRG Housing Finance Limited Udaipur Banking and Finance 7.01 Small (5-10 Cr) BSE SME Sep 2012 61.00 Extreme (50+) Aryaman Financial Services Limited
Jupiter Infomedia Limited Mumbai Advertising and Media 4.08 Very Small (< 5 Cr) BSE SME Aug 2012 0.00 NA Aryaman Financial Services Limited
Sangam Advisors Limited Mumbai Banking and Finance 5.07 Small (5-10 Cr) BSE SME Aug 2012 0.00 NA Aryaman Financial Services Limited
BCB Finance Limited Mumbai Banking and Finance 8.85 Small (5-10 Cr) BSE SME Mar 2012 0.00 NA Aryaman Financial Services Limited

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