65  Total SME IPOs listed in 2025

2,746.17 Crs.  Total funds raised in 2025

43  SME IPOs listed with Gain in 2025

22  SME IPOs listed with loss in 2025

65  Total SME IPOs listed in 2025

2746.17 Crs.  Total funds raised in 2025

43  SME IPOs listed with Gain in 2025

22  SME IPOs listed with loss in 2025

65  Total SME IPOs listed in 2025

2746.17 Crs.  Total funds raised in 2025

43  SME IPOs listed with Gain in 2025

22  SME IPOs listed with loss in 2025

65  Total SME IPOs listed in 2025

2746.17 Crs.  Total funds raised in 2025

43  SME IPOs listed with Gain in 2025

22  SME IPOs listed with loss in 2025

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Summary

PE Ratio*
Highest 48.95
Median 18.65
Lowest 3.27
IPO Size (Cr.)
Highest 169.37
Median 42.25
Lowest 1.92
  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.

SME IPO Performance 2025

SME IPO Performance of All IPO based on IPO 2025 in India on NSE Emerge and BSE SME. List of IPO with IPO size, IPO Industry, Merchant Banker, PE Ratio, Issue price and current market price (CMP). Latest SME IPO Performance of all IPOs listed in 2025 for IPO analysis and review. Track the IPO performance 2025 of SME 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(%)
CLN Energy Limited Jan 2025 72.30 Engineering - Automotive 26.95 Aryaman Financial Services Limited 250.00 406.55 (63 %)
Solarium Green Energy Limited Feb 2025 105.04 Solar 26.36 Beeline Capital Advisors Private Limited 191.00 313.50 (64 %)
Fabtech Technologies Cleanrooms Limited Jan 2025 27.74 Furniture 9.69 Vivro Financial Services Private Limited 85.00 308.00 (262 %)
Desco Infratech Limited Apr 2025 30.75 Infrastructure 17.03 Smart Horizon Capital Advisors Private Limited 150.00 243.05 (62 %)
Tankup Engineers Limited Apr 2025 19.53 Engineering 52.19 Hem Securities Limited 140.00 236.95 (69 %)
Beezaasan Explotech Limited Mar 2025 59.93 Chemical 13.57 Smart Horizon Capital Advisors Private Limited 175.00 229.85 (31 %)
Srigee DLM Limited May 2025 16.98 Plastic and Polymer 11.43 GYR Capital Advisors Private Limited 99.00 228.97 (131 %)
Maxvolt Energy Industries Limited Feb 2025 54.00 Electric Equipments 20.57 Smart Horizon Capital Advisors Private Limited 180.00 219.15 (22 %)
Nukleus Office Solutions Limited Mar 2025 31.70 Corporate Solutions 46.82 Sundae Capital Advisors 234.00 207.50 (-11 %)
Rapid Fleet Management Services Limited Mar 2025 43.87 Logistics 17.68 Gretex Corporate Services Limited 192.00 200.95 (5 %)
HP Telecom India Limited Feb 2025 34.23 Telecom 12.28 Interactive Financial Services Limited 108.00 195.60 (81 %)
Chandan Healthcare Limited Feb 2025 107.36 Healthcare - Hospitals and Clinic 16.74 Unistone Capital Private Limited 159.00 181.75 (14 %)
Sat Kartar Shopping Limited Jan 2025 33.80 Healthcare - Ayurvedic 20.23 Narnolia Financial Services Limited 81.00 172.50 (113 %)
Active Infrastructures Limited Mar 2025 77.83 Infrastructure 24.48 Kreo Capital Private Limited 181.00 170.00 (-6 %)
Royal Arc Electrodes Limited Feb 2025 36.00 Cables and Wires 20.98 Fedex Securities Private Limited 120.00 165.00 (38 %)
Tejas Cargo India Limited Feb 2025 105.84 Logistics 22.95 New Berry Capitals Private Limited 168.00 160.05 (-5 %)
Shri Ahimsa Naturals Limited Apr 2025 73.81 Agro - Food Products 14.25 Srujan Alpha Capital Advisors Llp 119.00 156.90 (32 %)
Kabra Jewels Limited Jan 2025 40.00 Jewellery 10.16 Marwadi Chandarana Intermediaries Brokers Private Limited 128.00 149.00 (16 %)
Grand Continent Hotels Limited Mar 2025 74.46 Hotels and Resorts 20.67 Indorient Financial Services Limited 113.00 141.90 (26 %)
Avax Apparels And Ornaments Limited Jan 2025 1.92 Jewellery 4.01 SKI Capital Services Limited 70.00 140.70 (101 %)
Balaji Phosphates Limited Mar 2025 50.11 Minerals 16.72 Arihant Capital Markets Limited 70.00 140.00 (100 %)
Capital Numbers Infotech Limited Jan 2025 169.37 Information Technology - Data Solutions 23.50 GYR Capital Advisors Private Limited 263.00 139.90 (-47 %)
PS Raj Steels Limited Feb 2025 28.28 Steel 13.65 Khambatta Securities Limited 140.00 138.95 (-1 %)
Eleganz Interiors Limited Feb 2025 78.07 Home Decor 15.41 Vivro Financial Services Private Limited 130.00 137.70 (6 %)
B.R.Goyal Infrastructure Limited Jan 2025 85.21 Infrastructure 55.13 Beeline Capital Advisors Private Limited 135.00 130.50 (-3 %)
Paradeep Parivahan Limited Mar 2025 44.86 Logistics 15.07 Share India Capital Services Private Limited 98.00 122.58 (25 %)
Indobell Insulation Limited Jan 2025 10.14 Engineering 34.18 Finshore Management Services Limited 46.00 114.55 (149 %)
Ema Partners India Limited Jan 2025 76.01 Human Resources and Manpower 21.98 Indorient Financial Services Limited 124.00 114.15 (-8 %)
Readymix Construction Machinery Limited Feb 2025 37.66 Infrastructure 96.85 Hem Securities Limited 123.00 97.00 (-21 %)
ATC Energies System Limited Apr 2025 63.76 Power and Energy 20.84 Indorient Financial Services Limited 118.00 94.60 (-20 %)
Voler Car Limited Feb 2025 27.00 Logistics 20.17 GYR Capital Advisors Private Limited 90.00 89.20 (-1 %)
Amwill Health Care Limited Feb 2025 59.98 Healthcare - Personal Care 17.04 Unistone Capital Private Limited 111.00 83.98 (-24 %)
PDP Shipping & Projects Limited Mar 2025 12.65 Logistics 17.05 Sun Capital Advisory Services (P) Limited 135.00 81.00 (-40 %)
Rexpro Enterprises Limited Jan 2025 53.65 Furniture 21.04 Horizon Management Private Limited 145.00 79.05 (-45 %)
Accretion Pharmaceuticals Limited May 2025 29.75 Pharmaceutical 35.82 Jawa Capital Services Private Limited 101.00 78.80 (-22 %)
Identixweb Limited Apr 2025 16.63 Information Technology - SaaS 14.07 Beeline Capital Advisors Private Limited 54.00 78.48 (45 %)
Iware Supplychain Services Limited May 2025 27.13 Logistics 12.69 Getfive Advisors Private Limited 95.00 77.50 (-18 %)
H.M. Electro Mech Limited Jan 2025 27.74 Engineering - EPC 15.39 Beeline Capital Advisors Private Limited 75.00 74.00 (-1 %)
Parmeshwar Metal Limited Jan 2025 24.74 Metal 9.55 Beeline Capital Advisors Private Limited 61.00 73.00 (20 %)
Delta Autocorp Limited Jan 2025 54.60 Electric Equipments 24.11 GYR Capital Advisors Private Limited 130.00 70.00 (-46 %)
Spinaroo Commercial Limited Apr 2025 10.17 Aluminium 29.01 Finshore Management Services Limited 51.00 68.00 (33 %)
Malpani Pipes & Fittings Limited Feb 2025 25.92 Steel - Tubes and Pipes 12.69 Interactive Financial Services Limited 90.00 65.00 (-28 %)
Rikhav Securities Limited Jan 2025 88.82 Banking and Finance 3.27 Smart Horizon Capital Advisors Private Limited 86.00 61.42 (-29 %)
Leo Dryfruits & Spices Trading Limited Jan 2025 25.12 Agro - Food Products 14.02 Shreni Shares Limited 52.00 58.40 (12 %)
Barflex Polyfilms Limited Jan 2025 39.42 Packaging & Disposables 7.34 Almondz Financial Services Limited 60.00 57.75 (-4 %)
Landmark Immigration Consultants Limited Jan 2025 40.34 Corporate Solutions 13.74 Shreni Shares Limited 72.00 54.00 (-25 %)
L.K.Mehta Polymers Limited Feb 2025 7.38 Plastic and Polymer 48.95 Swastika Investmart Limited 71.00 53.20 (-25 %)
Manoj Jewellers Limited May 2025 16.20 Jewellery 9.66 Jawa Capital Services Private Limited 54.00 47.70 (-12 %)
Technichem Organics Limited Jan 2025 25.25 Chemical 20.15 Shreni Shares Limited 55.00 46.90 (-15 %)
GB Logistics Commerce Limited Jan 2025 25.07 Logistics 16.53 SKI Capital Services Limited 102.00 45.48 (-55 %)
Divine Hira Jewellers Limited Mar 2025 31.84 Jewellery 23.50 Horizon Management Private Limited 90.00 44.25 (-51 %)
NAPS Global India Limited Mar 2025 11.88 Textiles 19.49 Aryaman Financial Services Limited 90.00 43.83 (-51 %)
Chamunda Electrical Limited Feb 2025 14.60 Power and Energy 14.66 GYR Capital Advisors Private Limited 50.00 41.80 (-16 %)
Arunaya Organics Limited May 2025 33.99 Chemical - Paint and Adhesives 21.21 Unistone Capital Private Limited 58.00 40.15 (-31 %)
Shanmuga Hospital Limited Feb 2025 20.62 Healthcare - Hospitals and Clinic 11.36 Finshore Management Services Limited 54.00 38.82 (-28 %)
Ken Enterprises Limited Feb 2025 83.65 Textiles 16.16 Corporate Makers Capital Limited 94.00 37.85 (-60 %)
Super Iron Foundry Limited Mar 2025 68.05 Steel - Iron 19.89 Horizon Management Private Limited 108.00 36.29 (-66 %)
Infonative Solutions Limited Apr 2025 24.71 Information Technology 12.84 Share India Capital Services Private Limited 79.00 36.25 (-54 %)
Swasth Foodtech India Limited Feb 2025 14.92 Agro - Food Products 15.05 Horizon Management Private Limited 94.00 33.44 (-64 %)
Citichem India Limited Jan 2025 12.60 Chemical 59.65 Horizon Management Private Limited 70.00 31.50 (-55 %)
Anya Polytech & Fertilizers Limited Jan 2025 44.80 Chemical - Pesticides 9.26 Beeline Capital Advisors Private Limited 14.00 26.90 (92 %)
Kenrik Industries Limited May 2025 8.75 Jewellery 23.31 Turnaround Corporate Advisors Private Limited 25.00 20.24 (-19 %)
Retaggio Industries Limited Apr 2025 15.50 Jewellery 23.98 Gretex Corporate Services Limited 25.00 19.99 (-20 %)
Davin Sons Retail Limited Jan 2025 8.78 Textiles 19.67 Navigant Corporate Advisors Limited 55.00 18.73 (-66 %)
Shreenath Paper Products Limited Mar 2025 23.36 Paper and Stationery 26.97 Galactico Corporate Service Limited 44.00 15.33 (-65 %)

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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