SME IPO stands for Small and Medium Enterprise Initial Public Offering. It is a process where a small or medium-sized company raises money from the public by listing its shares on a special SME platform of a stock exchange.
In other words, an SME IPO allows small businesses to raise capital from retail and institutional investors through the stock market.
Unlike large companies that list on the main board, SMEs list on dedicated platforms such as:
- BSE SME
- NSE SME
These platforms are specially created to help smaller businesses access public funding.
| IPO Name | Status | IPO Type | Issue Price | Price Band | Lot Size | Start Date | End Date | Listing Date |
|---|---|---|---|---|---|---|---|---|
| Rajputana Stainless IPO | Upcoming | Mainboard | ₹254.98 Cr | ₹116 – ₹122 | 110 | 09 Mar 2026 | 11 Mar 2026 | 16 Mar 2026 |
| Srinibas Pradhan Constructions IPO | Upcoming | SME | ₹20.32 Cr | ₹91 – ₹98 | 1200 | 06 Mar 2026 | 10 Mar 2026 | 13 Mar 2026 |
| Elfin Agro India IPO | Upcoming | SME | ₹25.03 Cr | ₹47 | 3000 | 05 Mar 2026 | 09 Mar 2026 | 12 Mar 2026 |
| SEDEMAC Mechatronics IPO | Upcoming | Mainboard | ₹1,087.45 Cr | ₹1,287 – ₹1,352 | 11 | 04 Mar 2026 | 06 Mar 2026 | 11 Mar 2026 |
| Acetech E-Commerce IPO | Ongoing | SME | ₹48.95 Cr | ₹106 – ₹112 | 1200 | 27 Feb 2026 | 04 Mar 2026 | 09 Mar 2026 |
| Striders Impex IPO | Closed | SME | ₹36.29 Cr | ₹71 – ₹72 | 1600 | 26 Feb 2026 | 02 Mar 2026 | 06 Mar 2026 |
| Omnitech Engineering IPO | Closed | Mainboard | ₹583.00 Cr | ₹216 – ₹227 | 66 | 25 Feb 2026 | 27 Feb 2026 | 05 Mar 2026 |
| Yaap Digital IPO | Closed | SME | ₹80.11 Cr | ₹145 | 1000 | 25 Feb 2026 | 27 Feb 2026 | 05 Mar 2026 |
| PNGS Reva Diamond Jewellery IPO | Closed | Mainboard | ₹380.00 Cr | ₹367 – ₹386 | 32 | 24 Feb 2026 | 26 Feb 2026 | 04 Mar 2026 |
| Clean Max Enviro Energy Solutions IPO | Listed | Mainboard | ₹3,100.00 Cr | ₹1,000 – ₹1,053 | 14 | 23 Feb 2026 | 25 Feb 2026 | 02 Mar 2026 |
| Shree Ram Twistex IPO | Listed | Mainboard | ₹110.24 Cr | ₹95 – ₹104 | 144 | 23 Feb 2026 | 25 Feb 2026 | 02 Mar 2026 |
| Mobilise App Lab IPO | Listed | SME | ₹20.10 Cr | ₹75 – ₹80 | 1600 | 23 Feb 2026 | 25 Feb 2026 | 02 Mar 2026 |
| Accord Transformer & Switchgear IPO | Listed | SME | ₹25.59 Cr | ₹46 | 3000 | 23 Feb 2026 | 25 Feb 2026 | 02 Mar 2026 |
| Kiaasa Retail IPO | Listed | SME | ₹69.72 Cr | ₹127 | 1000 | 23 Feb 2026 | 25 Feb 2026 | 02 Mar 2026 |
| Gaudium IVF and Women Health IPO | Listed | Mainboard | ₹165.00 Cr | ₹75 – ₹79 | 189 | 20 Feb 2026 | 24 Feb 2026 | 27 Feb 2026 |
| Manilam Industries India IPO | Listed | SME | ₹39.95 Cr | ₹65 – ₹69 | 2000 | 20 Feb 2026 | 24 Feb 2026 | 27 Feb 2026 |
| Yashhtej Industries (India) IPO | Listed | SME | ₹88.88 Cr | ₹110 | 1200 | 18 Feb 2026 | 20 Feb 2026 | 25 Feb 2026 |
| Fractal Industries IPO | Listed | SME | ₹49.00 Cr | ₹205 – ₹216 | 600 | 16 Feb 2026 | 18 Feb 2026 | 23 Feb 2026 |
| Marushika Technology IPO | Listed | SME | ₹26.97 Cr | ₹111 – ₹117 | 1200 | 12 Feb 2026 | 16 Feb 2026 | 19 Feb 2026 |
| Fractal Analytics IPO | Listed | Mainboard | ₹2,833.90 Cr | ₹857 – ₹900 | 16 | 09 Feb 2026 | 11 Feb 2026 | 16 Feb 2026 |
| Aye Finance IPO | Listed | Mainboard | ₹1,010.00 Cr | ₹122 – ₹129 | 116 | 09 Feb 2026 | 11 Feb 2026 | 16 Feb 2026 |
| Biopol Chemicals IPO | Listed | SME | ₹31.26 Cr | ₹102 – ₹108 | 1200 | 06 Feb 2026 | 10 Feb 2026 | 13 Feb 2026 |
| PAN HR Solutions IPO | Listed | SME | ₹17.04 Cr | ₹74 – ₹78 | 1600 | 06 Feb 2026 | 10 Feb 2026 | 13 Feb 2026 |
| Brandman Retail IPO | Listed | SME | ₹0.49 Cr | ₹167 – ₹176 | 800 | 04 Feb 2026 | 06 Feb 2026 | 11 Feb 2026 |
| Grover Jewells IPO | Listed | SME | ₹33.83 Cr | ₹83 – ₹88 | 1600 | 04 Feb 2026 | 06 Feb 2026 | 11 Feb 2026 |
| CKK Retail Mart IPO | Listed | SME | ₹88.00 Cr | ₹163 | 800 | 30 Jan 2026 | 03 Feb 2026 | 06 Feb 2026 |
| Accretion Nutraveda IPO | Listed | SME | ₹24.77 Cr | ₹129 | 1000 | 28 Jan 2026 | 30 Jan 2026 | 04 Feb 2026 |
| Msafe Equipments IPO | Listed | SME | ₹66.42 Cr | ₹123 | 1000 | 28 Jan 2026 | 30 Jan 2026 | 04 Feb 2026 |
| Kanishk Aluminium India IPO | Listed | SME | ₹29.20 Cr | ₹73 | 1600 | 28 Jan 2026 | 30 Jan 2026 | 04 Feb 2026 |
| Kasturi Metal Composite IPO | Listed | SME | ₹17.61 Cr | ₹64 | 2000 | 27 Jan 2026 | 29 Jan 2026 | 03 Feb 2026 |
| Shayona Engineering IPO | Listed | SME | ₹15.00 Cr | ₹140 – ₹144 | 1000 | 22 Jan 2026 | 27 Jan 2026 | 30 Jan 2026 |
| Hannah Joseph Hospital IPO | Listed | SME | ₹42.00 Cr | ₹70 | 2000 | 22 Jan 2026 | 28 Jan 2026 | 01 Feb 2026 |
| KRM Ayurveda IPO | Listed | SME | ₹77.49 Cr | ₹135 | 1000 | 21 Jan 2026 | 23 Jan 2026 | 29 Jan 2026 |
| Shadowfax Technologies IPO | Listed | Mainboard | ₹1,907.27 Cr | ₹118 – ₹124 | 120 | 20 Jan 2026 | 22 Jan 2026 | 28 Jan 2026 |
| Digilogic Systems IPO | Listed | SME | ₹81.01 Cr | ₹104 | 1200 | 20 Jan 2026 | 22 Jan 2026 | 28 Jan 2026 |
| Aritas Vinyl IPO | Listed | SME | ₹37.52 Cr | ₹40 – ₹47 | 3000 | 16 Jan 2026 | 20 Jan 2026 | 23 Jan 2026 |
| Armour Security India IPO | Listed | SME | ₹26.51 Cr | ₹55 – ₹57 | 2000 | 14 Jan 2026 | 19 Jan 2026 | 22 Jan 2026 |
| GRE Renew Enertech IPO | Listed | SME | ₹39.56 Cr | ₹100 – ₹105 | 1200 | 13 Jan 2026 | 16 Jan 2026 | 21 Jan 2026 |
| INDO SMC IPO | Listed | SME | ₹91.95 Cr | ₹141 – ₹149 | 1000 | 13 Jan 2026 | 16 Jan 2026 | 21 Jan 2026 |
| Amagi Media Labs IPO | Listed | Mainboard | ₹1,788.62 Cr | ₹343 – ₹361 | 41 | 13 Jan 2026 | 16 Jan 2026 | 21 Jan 2026 |
| Avana Electrosystems IPO | Listed | SME | ₹35.22 Cr | ₹56 – ₹59 | 2000 | 12 Jan 2026 | 14 Jan 2026 | 20 Jan 2026 |
| Narmadesh Brass Industries IPO | Listed | SME | ₹44.87 Cr | ₹515 | 240 | 12 Jan 2026 | 16 Jan 2026 | 21 Jan 2026 |
| Bharat Coking Coal IPO | Listed | Mainboard | ₹1,071.11 Cr | ₹23 | 600 | 09 Jan 2026 | 13 Jan 2026 | 19 Jan 2026 |
| Defrail Technologies IPO | Listed | SME | ₹13.77 Cr | ₹74 | 1600 | 09 Jan 2026 | 13 Jan 2026 | 19 Jan 2026 |
| Yajur Fibres IPO | Listed | SME | ₹120.00 Cr | ₹168 – ₹174 | 800 | 07 Jan 2026 | 09 Jan 2026 | 14 Jan 2026 |
| Victory Electric Vehicles International IPO | Listed | SME | ₹34.56 Cr | ₹41 | 3000 | 07 Jan 2026 | 09 Jan 2026 | 14 Jan 2026 |
| Gabion Technologies India IPO | Listed | SME | ₹29.00 Cr | ₹76 – ₹81 | 1600 | 06 Jan 2026 | 08 Jan 2026 | 13 Jan 2026 |
| Modern Diagnostic & Research Centre IPO | Listed | SME | ₹37.00 Cr | ₹85 – ₹90 | 1600 | 31 Dec 2025 | 02 Jan 2026 | 07 Jan 2026 |
| E TO E Transportation Infrastructure IPO | Listed | SME | ₹84.22 Cr | ₹164 – ₹174 | 800 | 26 Dec 2025 | 30 Dec 2025 | 02 Jan 2026 |
| Dhara Rail Projects IPO | Listed | SME | ₹50.20 Cr | ₹120 – ₹126 | 1000 | 23 Dec 2025 | 26 Dec 2025 | 31 Dec 2025 |
| Shyam Dhani Industries IPO | Listed | SME | ₹38.49 Cr | ₹65 – ₹70 | 2000 | 22 Dec 2025 | 24 Dec 2025 | 30 Dec 2025 |
| Gujarat Kidney & Super Speciality IPO | Listed | Mainboard | ₹250.80 Cr | ₹108 – ₹114 | 128 | 22 Dec 2025 | 24 Dec 2025 | 30 Dec 2025 |
| KSH International IPO | Listed | Mainboard | ₹710.00 Cr | ₹384 | 39 | 16 Dec 2025 | 18 Dec 2025 | 23 Dec 2025 |
| ICICI Prudential AMC IPO | Listed | Mainboard | ₹10,602.65 Cr | ₹2,061 – ₹2,165 | 6 | 12 Dec 2025 | 16 Dec 2025 | 19 Dec 2025 |
| Park Medi World IPO | Listed | Mainboard | ₹920.00 Cr | ₹162 | 92 | 10 Dec 2025 | 12 Dec 2025 | 17 Dec 2025 |
| Nephrocare Health Services IPO | Listed | Mainboard | ₹871.05 Cr | ₹460 | 32 | 10 Dec 2025 | 12 Dec 2025 | 17 Dec 2025 |
| Billionbrains Garage Ventures IPO (Groww IPO) | Listed | Mainboard | ₹6,632.30 Cr | ₹100 | 150 | 04 Nov 2025 | 07 Nov 2025 | 12 Nov 2025 |
| Lenskart Solutions IPO | Listed | Mainboard | ₹7,278.02 Cr | ₹382 – ₹402 | 37 | 31 Oct 2025 | 04 Nov 2025 | 10 Nov 2025 |
IPO – To be announced
| Company | Status | IPO Type | Issue Price | Price Band | Lot Size | Start Date | End Date | Listing Date |
|---|---|---|---|---|---|---|---|---|
| Reliance Jio IPO | Awaited | Mainboard | - | - | - | - | - | - |
| NFP Sampoorna Foods IPO | Awaited | SME | ₹25.00 Cr | ₹52 – ₹55 | 2000 | - | - | - |
Who Qualifies as an SME?
In India, businesses are classified based on investment and turnover.
| Type | Investment | Turnover |
|---|---|---|
| Small Enterprise | ₹1 – ₹10 crore | ₹5 – ₹50 crore |
| Medium Enterprise | ₹10 – ₹50 crore | ₹50 – ₹250 crore |
If such companies meet exchange requirements, they can apply for SME listing.
Key Features of SME IPO
Before you invest, understand these important points:
✔ Post-issue paid-up capital must be between ₹1 crore and ₹25 crore
✔ Listed only on SME platform
✔ Minimum application size usually starts around ₹1 lakh
✔ Trading happens in lot size only
✔ Half-yearly financial reporting
✔ Minimum 50 allottees required
Yes, the entry amount is higher than a regular IPO.
SME IPO vs Mainboard IPO (Major Differences)
Many investors confuse the two.
Here’s a clear comparison:
| SME IPO | Mainboard IPO |
|---|---|
| Capital: ₹1–₹25 crore | Minimum ₹10 crore |
| Lot size ~₹1 lakh+ | Lot size ₹10,000–₹15,000 |
| Listed on SME platform | Listed on NSE/BSE main board |
| 100% underwriting mandatory | Not mandatory |
| Half-yearly reporting | Quarterly reporting |
| Must sell full lot | Can sell partial shares |
One important rule: You cannot sell individual shares in SME IPO. You must sell in full lots.
Liquidity can also be lower compared to mainboard stocks.
How to Apply for SME IPO (Step-by-Step)
Applying for SME IPO is similar to mainboard IPO.
You can apply through:
- UPI method
- ASBA through bank
- Broker platform
Method 1: Apply via UPI
- Login to your trading app
- Go to IPO section
- Select SME IPO
- Enter number of lots
- Enter UPI ID
- Approve mandate
Done.
Method 2: Apply via ASBA
- Login to net banking
- Select IPO option
- Fill Demat & PAN details
- Enter bid amount
- Submit
FAQs on SME IPO
What is SME IPO full form?
Small and Medium Enterprise Initial Public Offering.
What is minimum investment in SME IPO?
Usually around ₹1 lakh per lot.
Can retail investors apply for SME IPO?
Yes, but lot size is larger than mainboard IPO.
Can I sell SME IPO shares on listing day?
Yes, but only in complete lot size.
Are SME IPOs risky?
Yes, they carry higher risk compared to mainboard IPOs.
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