105  Total SME IPOs listed in 2025

4,682.85 Crs.  Total funds raised in 2025

71  SME IPOs listed with Gain in 2025

34  SME IPOs listed with loss in 2025

105  Total SME IPOs listed in 2025

4,682.85 Crs.  Total funds raised in 2025

71  SME IPOs listed with Gain in 2025

34  SME IPOs listed with loss in 2025

105  Total SME IPOs listed in 2025

4,682.85 Crs.  Total funds raised in 2025

71  SME IPOs listed with Gain in 2025

34  SME IPOs listed with loss in 2025

105  Total SME IPOs listed in 2025

4682.85 Crs.  Total funds raised in 2,025.00

71  SME IPOs listed with Gain in 2025

34  SME IPOs listed with loss in 2025

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Summary

PE Ratio*
Highest 44.54
Median 18.86
Lowest -47.91
IPO Size (Cr.)
Highest 12500.00
Median 1,806.43
Lowest 119.00
  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.

Year wise IPO Performance 2025

IPO Performance of All IPO based on IPO 2025 in India on NSE and BSE stock exchanges. List of IPO with IPO size, IPO Industry, Merchant Banker, PE Ratio, Issue price and current market price (CMP). Latest IPO Performance of all IPOs listed in IPO 2025 for IPO analysis and review. Track the IPO performance 2025 of Mainboard IPO on NSE and BSE. IPOPlatform provides data-driven insights into how Indian IPOs have performed each Calendar year helping investors, analysts, and businesses understand share market trends. Our comprehensive IPO performance tracker is your go-to source for IPO analytics and performance comparison.

Company Name IPO Year (Listed) IPO Size (Cr.) Sector PE Ratio Merchant Banker Offer Price CMP CMP(%)
Quality Power Electrical Equipments Limited Feb 2025 858.70 Electric Equipments 32.86 Pantomath Capital Advisors Private Limited 425.00 737.20 73%
Quadrant Future Tek Limited Jan 2025 290.00 Information Technology -47.91 Sundae Capital Advisors 290.00 465.45 61%
Prostarm Info Systems Limited Jun 2025 168.00 Power and Energy 20.97 Choice Capital Advisors Private Limited 105.00 164.06 56%
Ellenbarrie Industrial Gases Limited Jul 2025 852.53 Oil and Gas 67.69 IIFL Securities Limited and Jm Financial Limited and Motilal Oswal Investment Advisors Limited 400.00 604.70 51%
Scoda Tubes Limited Jun 2025 220.00 Steel 25.25 Monarch Networth Capital Limited 140.00 202.86 45%
Sambhv Steel Tubes Limited Jul 2025 540.00 Steel 44.54 Motilal Oswal Investment Advisors Limited and Nuvama Wealth Management Limited 82.00 111.15 36%
Belrise Industries Limited May 2025 2150.00 Engineering - Automotive 24.47 Axis Capital Limited and Hsbc Securities & Capital Markets Private limited and Jefferies India Private Limited and SBI Capital Markets Limited 90.00 112.40 25%
Hexaware Technologies Limited Feb 2025 8750.00 Information Technology Citigroup Global Markets India Private Limited and Hsbc Securities & Capital Markets Private limited and IIFL Securities Limited and J.P. Morgan India Private Limited and Kotak Mahindra Capital Company Limited 708.00 882.50 25%
Oswal Pumps Limited Jun 2025 1387.34 Solar 24.22 Axis Capital Limited and Clsa India Private Limited and IIFL Securities Limited and Jm Financial Limited and Nuvama Wealth Management Limited 614.00 736.90 20%
Standard Glass Lining Technology Limited Jan 2025 410.05 Engineering 38.50 IIFL Securities Limited and Motilal Oswal Investment Advisors Limited 140.00 167.90 20%
Crizac Limited Jul 2025 860.00 Education - Edtech 28.03 Anand Rathi Securities Limited and Equirus Capital Private Limited 245.00 287.03 17%
HDB Financial Services Limited Jul 2025 12500.00 Banking and Finance 28.15 Bnp Paribas and Bofa Securities India Limited and Goldman Sachs (India) Securities Private Limited and Hsbc Securities & Capital Markets Private limited and IIFL Securities Limited and Jefferies India Private Limited and Jm Financial Limited and Morgan Stanley India Company Private Limited and Motilal Oswal Investment Advisors Limited and Nomura Financial Advisory And Securities (India) Private Limited and Nuvama Wealth Management Limited and Ubs Securities India Private Limited 740.00 849.45 15%
Ajax Engineering Limited Feb 2025 1269.35 Infrastructure 35.62 Citigroup Global Markets India Private Limited and ICICI Securities Limited and Jm Financial Limited and Nuvama Wealth Management Limited and SBI Capital Markets Limited 629.00 684.00 9%
Globe Civil Projects Limited Jul 2025 119.00 Engineering - EPC 17.88 Mefcom Capital Markets Limited 71.00 76.74 8%
Dr Agarwals Health Care Limited Feb 2025 3027.26 Healthcare - Hospitals and Clinic 160.48 Jefferies India Private Limited and Kotak Mahindra Capital Company Limited and Morgan Stanley India Company Private Limited and Motilal Oswal Investment Advisors Limited 402.00 431.95 7%
Stallion India Fluorochemicals Limited Jan 2025 199.45 Chemical 21.55 Sarthi Capital Advisors Private Limited 90.00 96.58 7%
Aegis Vopak Terminals Limited Jun 2025 3500.00 Oil and Gas 259.32 Bnp Paribas and Hdfc Bank Limited and ICICI Securities Limited and IIFL Securities Limited and Jefferies India Private Limited 235.00 250.05 6%
Borana Weaves Limited May 2025 144.89 Textiles - Fabrics 1.47 Beeline Capital Advisors Private Limited 216.00 226.92 5%
Kalpataru Limited Jul 2025 1590.00 Real Estate 1160.05 ICICI Securities Limited and Jm Financial Limited and Nomura Financial Advisory And Securities (India) Private Limited 414.00 429.85 4%
Ather Energy Limited May 2025 2980.76 Automobile -15.52 Axis Capital Limited and Hsbc Securities & Capital Markets Private limited and Jm Financial Limited and Nomura Financial Advisory And Securities (India) Private Limited 321.00 329.75 3%
Laxmi Dental Limited Jan 2025 698.06 Healthcare 51.73 Motilal Oswal Investment Advisors Limited and Nuvama Wealth Management Limited and SBI Capital Markets Limited 428.00 427.65 -0%
Leela Hotels - Schloss Bangalore Limited Jun 2025 3500.00 Hotels and Resorts 213.09 Axis Capital Limited and Bofa Securities India Limited and Citigroup Global Markets India Private Limited and ICICI Securities Limited and IIFL Securities Limited and J.P. Morgan India Private Limited and Jm Financial Limited and Kotak Mahindra Capital Company Limited and Morgan Stanley India Company Private Limited and Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited 435.00 427.80 -2%
Denta Water and Infra Solutions Limited Jan 2025 220.50 Infrastructure 16.22 Smc Capitals Limited 294.00 285.90 -3%
Indogulf Cropsciences Limited Jul 2025 200.00 Agro 24.27 Systematix Corporate Services Limited 111.00 102.93 -7%
Indo Farm Equipment Limited Jan 2025 260.15 Engineering 105.25 Aryaman Financial Services Limited 215.00 180.96 -16%
Capital Infra Trust InvIT Jan 2025 1578.00 Infrastructure Hdfc Bank Limited and SBI Capital Markets Limited 100.00 77.99 -22%
Aris Infra Solutions Limited Jun 2025 499.60 Infrastructure IIFL Securities Limited and Jm Financial Limited and Nuvama Wealth Management Limited 222.00 160.34 -28%

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Summary

PE Ratio*
Highest 44.54
Median 18.86
Lowest -47.91
IPO Size (Cr.)
Highest 12500.00
Median 1,806.43
Lowest 119.00
  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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SME IPO

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.

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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.

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  • 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