SME IPOs
Smaller issues on NSE Emerge and BSE SME. The minimum application is two lots (at least ₹2 lakh), a market maker supports trading after listing, and liquidity is thinner than on the mainboard.
Updated 10 Sept 2026, 10:08 am IST
| Price band | Lot · Min. investment | Trend | ||||||
|---|---|---|---|---|---|---|---|---|
| Vinod Texworld Limited Uncategorized | Open | 9 Sept – 11 Sept Lists 17 Sept | ₹94–₹94 | ₹2,25,600 1200 shares | ₹43 cr | — | Not yet quoted | — |
| Amtech Esters Limited Uncategorized | Open | 9 Sept – 11 Sept Lists 17 Sept | ₹71–₹75 | ₹2,40,000 1600 shares | ₹18 cr | — | Not yet quoted | — |
| Raksan Transformers Limited Uncategorized | Open | 10 Sept – 15 Sept Lists 18 Sept | ₹258–₹273 | ₹2,18,400 400 shares | ₹150 cr | — | Not yet quoted | — |
| Om Galaxy Limited Uncategorized | Open | 10 Sept – 15 Sept Lists 18 Sept | ₹85–₹90 | ₹2,88,000 1600 shares | ₹105 cr | — | Not yet quoted | — |
| Maharaja & Speedex India Limited Uncategorized | Open | 10 Sept – 15 Sept Lists 18 Sept | ₹177–₹186 | ₹2,23,200 600 shares | ₹80 cr | — | Not yet quoted | — |
| Qualiance International Limited Uncategorized | Allotment out | 4 Sept – 8 Sept Lists 11 Sept | ₹120–₹120 | ₹2,40,000 1000 shares | ₹45 cr | 68.2× Retail 92.8× | ₹55+45.8% |
SME issuers must show an operating profit of at least ₹1 crore in two of the last three financial years, promoter sales through the offer are capped at 20% of the issue, and use of proceeds is watched by a monitoring agency. These norms were tightened in 2024–25; confirm the current text on sebi.gov.in.
SME listings are more volatile than mainboard listings and grey market quotes for them are thinner and less reliable. Very high subscription numbers reflect small issue sizes as much as demand.