SME IPOs in 2025
SME IPOs in 2025
Explore all SME IPOs and discover potential investments.
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Open IPOs
Open - Close11 Nov - 13 Nov
Issue size₹70.00
Price range₹108 – ₹114
Closes on 13 Nov
Open - Close11 Nov - 13 Nov
Issue size₹69.00
Price range₹200 – ₹204
Closes on 13 Nov
Name | Open - Close | Issue size | Price range | Subscription | |
|---|---|---|---|---|---|
 Mahamaya Lifesciences Limited SME | 11 Nov - 13 Nov | ₹70Cr | ₹108 – ₹114 | 0.11x | |
Workmates Core2Cloud Solution IPOSME, IT - Software | 11 Nov - 13 Nov | ₹69Cr | ₹200 – ₹204 | 1.63x |
View more open IPOs
Upcoming IPOs
Date announced
There are no upcoming sme IPOs at the moment
Dates yet to be announced
Closed IPOs
Allotment Date12 Nov 2025
Demat Transfer13 Nov 2025
Listing Date14 Nov 2025
Allotment Date12 Nov 2025
Demat Transfer13 Nov 2025
Listing Date14 Nov 2025
Allotment Date11 Nov 2025
Demat Transfer12 Nov 2025
Listing Date13 Nov 2025
Allotment Date10 Nov 2025
Demat Transfer11 Nov 2025
Listing Date12 Nov 2025
Name | Allotment Date | Demat Transfer | Listing Date | Subscription |
|---|---|---|---|---|
Curis Lifesciences IPOSME, Pharmaceuticals & Drugs | 12 Nov 2025 | 13 Nov 2025 | 14 Nov 2025 | 37.25x |
Shining Tools Limited SME | 12 Nov 2025 | 13 Nov 2025 | 14 Nov 2025 | 1.20x |
Finbud Financial Services IPOSME, Finance - NBFC | 11 Nov 2025 | 12 Nov 2025 | 13 Nov 2025 | 4.51x |
Shreeji Global FMCG IPOSME | 10 Nov 2025 | 11 Nov 2025 | 12 Nov 2025 | 3.90x |
Listed IPOs
Name | Listing Date | Today's LTP | Listing Price | Listing gains/loss |
|---|---|---|---|---|
Safecure Services IPOSME | 06 Nov 2025 | --- | ₹81.60 | -20.00% |
Game Changers Texfab IPOSME | 04 Nov 2025 | --- | ₹104.15 | 2.11% |
Jayesh Logistics IPOSME, Logistics | 03 Nov 2025 | --- | ₹111.95 | -8.24% |
Shlokka Dyes IPOSME, Chemicals | 17 Oct 2025 | --- | ₹90.00 | -1.10% |
SK Minerals & Additives IPOSME, Chemicals | 17 Oct 2025 | --- | ₹145.00 | 14.17% |
View more listed IPOs
How to apply for IPOs on Upstox
Step 1
Go to www.upstox.com/ipo or open the Upstox mobile app and select the IPO you wish to apply for from the 'Open IPO' section
Step 2
Click on apply, enter the lot size, price and provide your UPI mandate.
Step 3
Approve the UPI mandate on your UPI app and you are all set!
Latest News on IPO
Pine Labs IPO is looking to raise ₹3,899.91 crore by offering new equity shares valued at ₹2,080 crore and an offer for sale (OFS) of ₹1,819.91 crore by existing investors.
3 min read
Emmvee Photovoltaic IPO: The ₹2,900 crore book-building issue is a mix of fresh issuance of ₹2,143.86 crore and an offer for sale of ₹756.14 crore.
3 min read
PhysicsWallah IPO: The ₹3,480 crore book-build issue consists of new equity shares valued at ₹3,100 crore and an offer for sale of shares totalling ₹380 crore by promoters Prateek Boob and Alakh Pandey.
3 min read
Groww IPO Listing Date: The initial share sale sought ₹6,632.30 crore by a combination of new equity shares valued at ₹1,060 crore and an offer for sale of ₹5,572.30 crore.
3 min read
Capillary Technologies IPO: The initial share sale is a fresh issuance of ₹345 crore as well as an offer for sale of ₹532.50 crore by Capillary Technologies International Pte Ltd and Trudy Holdings.
2 min read
Groww IPO allotment status finalised: The ₹6,632.30 crore initial share sale consisted of new equity shares worth ₹1,060 crore and an offer for sale (OFS) of ₹5,572.30 crore by existing investors.
4 min read
Both companies, which filed their preliminary IPO papers with SEBI in August, obtained their observations between October 30 and November 4, according to the update.
2 min read
Pine Labs IPO: The ₹3,899.91 crore initial share sale, which will end on November 11, has set a price band of ₹210 to ₹221 per share. The lot size for an application is 67 shares.
3 min read
Lenskart share price: The ₹7,278.02 crore book-building issue consisted of a fresh issuance of ₹2,150 crore and an offer for sale component of ₹5,128.02 crore by promoters and existing investors.
3 min read
PhysicsWallah IPO aims to raise ₹3,480 crore through its public issue. The company is among the top five education companies in India by revenue. It offers various kinds of courses through online and offline channels. The IPO price band has been fixed between ₹103 and ₹109 per share, with a lot size of 137 shares.
7 min read
Rapido co-founder Aravind Sanka said the firm expects to be very close to posting operational profit in the current financial year as it has no cash burn like competitors and it has been growing at the rate of 100% YoY.
4 min read
Upcoming IPOs: Solar photovoltaic module maker Emmvee Photovoltaic Power's ₹2,900 crore initial share sale will be open from November 11 to November 13. The company has set a price range of ₹206 to ₹217 per share.
4 min read
Fujiyama Power Systems IPO date: The ₹828 crore initial share sale is a fresh issuance of shares worth ₹600 crore and an offer for sale of shares aggregating to ₹228 crore by promoters Pawan Kumar Garg and Yogesh Dua.
2 min read
Financially, InCred Finance reported a profit after tax of ₹372 crore in FY25, up 18% year-on-year, and its total income surged 50% to ₹1,255 crore
2 min read
As part of the transaction, Think Investments picked up 1.07 crore equity shares, amounting to a 0.37% stake in PhysicsWallah, from 14 employees of the edtech firm
2 min read
Pine Labs IPO: The ₹3,899.91 crore initial share sale comprises a fresh issue of shares valued at ₹2,080 crore and an offer for sale (OFS) of over 8.23 crore equity shares aggregating to ₹1,819.91 crore.
3 min read
Groww IPO: The ₹6,632.30 crore public offer is a mix of fresh issuance of shares valued at ₹1,060 crore as well as an offer for sale (OFS) of ₹5,572.30 crore by existing investors.
3 min read
The ₹3,600-crore IPO will be opened for public subscription next week on November 12 and conclude on November 14
2 min read
Lenskart IPO allotment status: The ₹7,278.02 crore book-building issue comprised a fresh issuance of shares worth ₹2,150 crore and an offer for sale (OFS) component of ₹5,128.02 crore.
4 min read
Studds Accessories share price: The ₹455.49 crore initial share sale was completely an offer for sale of 7,786,120 equity shares by promoters and shareholders. The price range was set at ₹557 to ₹585 per share.
3 min read
Groww IPO is a mix of fresh issue of equity shares worth ₹1,060 crore along with an offer-for-sale (OFS) component of 55.72 crore equity shares valued at ₹5,572.30 crore. The total issue size is ₹6,632.30 crore.
3 min read
SBI Funds Management IPO: SBI Funds Management Ltd, which operates under the name SBI Mutual Fund, offers various products like mutual funds (equity, debt, hybrid, etc.), exchange-traded funds (ETFs), and other solutions for institutional and individual investors.
3 min read
Orkla India share price: The ₹1,667.54 crore IPO was exclusively an offer for sale (OFS) of 2.28 crore shares by promoter Orkla Asia Pacific and shareholders Navas Meeran and Feroz Meeran.
2 min read
PhysicsWallah IPO date: The ₹3,480 crore issue comprises a fresh issuance of shares totalling ₹3,100 crore and an offer for sale (OFS) of shares aggregating to ₹380 crore.
3 min read
PhysicsWallah IPO: Both promoters, Alakh Pandey and Prateek Boob, will each offload shares worth ₹190 crore through the OFS. At present, both hold a 40.31% stake each in the company.
4 min read
What our users have to say
Why invest in SME IPOs?
Investing in Small and Medium Enterprise (SME) IPOs provides an opportunity to capitalise on growing businesses while benefiting from their potential for expansion and profitability. These initial public offerings allow SMEs to raise capital by listing shares on stock exchanges. SME IPOs provide long-term capital for the company, which can be utilised for expansion, marketing, meeting working capital needs, or other strategic investments. Unlike loans, this capital does not require repayment, offering more financial flexibility. Additionally, public listing enhances the SME’s visibility and reputation, attracting institutional investors and improving corporate governance. The SME IPOs hold immense potential for early investors as many recently listed SME issues have given multifold returns after market debut.
How to apply for SME IPOs with Upstox?
Web: You can apply for an IPO on the Upstox website. Go to https://upstox.com/ipo/sme and log in with your credentials. From the list of open IPOs, select the IPO you want to apply for and click Apply. Enter details like the cutoff price, lot size, and UPI ID for the mandate. Approve the UPI mandate on your UPI application. You can track your application status from the My Application tab.
App: To get started
- Open the Upstox app and log in using your 6-digit PIN or Biometrics.
- From the bottom menu, tap on the More tab and select the IPO option.
- In the Explore section, check the Show SME IPOs box to see all the available SME IPOs.
- Browse through the listed SME IPOs and click on Pre-apply now or Apply Now for your desired IPO.
- Enter the required details like quantity and price, then click on Continue to apply.
- Provide your UPI ID linked to your bank account and click Continue to apply.
- Monitor your application status by selecting Timeline or Summary. A message will appear regarding the pending UPI mandate.
- Open your UPI app and approve the payment mandate.
- Once the mandate is accepted, track your application under the View Application tab.
- To see a detailed IPO timeline, check the Timeline section for date-wise updates.
Frequently asked questions
How does the size of an SME IPO differ from that of a mainboard IPO?
An IPO refers to the first time a company offers its shares to the public to raise capital from the primary market. The main difference between SME IPOs and mainboard IPOs lies in the issue size. Mainboard IPOs tend to have larger issue sizes, while SME IPOs involve smaller issue sizes. To qualify for an SME IPO in India, the Securities and Exchange Board of India (SEBI) has issued a set of guidelines. For instance, the SMEs should have an operating profit of ₹1 crore for two out of three financial years before applying for an IPO, the offer-for-sale is capped at 20% of the issue size, or 50% of the holding, whichever is lower, and the maximum post-issue capital is ₹25 crore, among others.
Which SME IPO is expected to launch next?
Some of the upcoming SME IPOs are:
Shipwaves Online IPO,
Riddhi Display Equipments IPO,
Solar91 Cleantech IPO,
Victory Electric Vehicles International IPO
Other IPO Links
Workmates Core2Cloud Solution IPO
Trending
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How to apply for IPOs on Upstox
Step 1
Go to www.upstox.com/ipo or open the Upstox mobile app and select the IPO you wish to apply for from the 'Open IPO' section
Step 2
Click on apply, enter the lot size, price and provide your UPI mandate.
Step 3
Approve the UPI mandate on your UPI app and you are all set!
Other IPO Links