Upcoming SME IPOs in India 2025: 2025 Listings

Upcoming SME IPOs in 2025

Find details about upcoming SME IPOs and stay updated.

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All Open Upcoming Closed Listed

Dates yet to be announced

Solar91 Cleantech IPOPower Generation/Distribution, SME

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Name	Status
Solar91 Cleantech IPOSME, Power Generation/Distribution	---	---

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

Iware Supplychain Services IPO: The initial share sale is solely a fresh issuance of 28,56,000 equity shares worth ₹27.13 crore. For retail investors, the minimum investment size is one lot, or 1,200 shares worth ₹1,14,000.

2 min read

Ather Energy IPO opens on April 28, 2025, with an issue size of ₹2,980.7 crore. The price band is set between ₹304-₹321 per share, with a lot size of 46 shares. Ather Energy is a leading electric two-wheeler manufacturer in India, known for premium e-scooters.

4 min read

Ather Energy IPO: The ₹2,980.76 crore initial share sale, with a price band of ₹304 to ₹321 per share, is a fresh issue of ₹2,626 crore as well as an offer for sale of 1.11 crore shares. The offer will conclude on April 30.

2 min read

Tankup Engineers IPO price band has been fixed at ₹133 to ₹140 per share. The initial share sale is a fresh issuance of equity shares worth ₹19.53 crore without an offer-for-sale (OFS) component.

2 min read

Ather Energy IPO is a mix of a fresh issue of 8.18 crore equity shares worth ₹2,626 crore and an offer for sale (OFS) of ₹354.76 crore. The total issue size is ₹2,980.76 crore.

2 min read

Tankup Engineers IPO is solely a fresh issue of 13.95 lakh shares aggregating to ₹19.53 crore. There is no offer-for-sale (OFS) component.

2 min read

Moon Beverages has invested ₹4,000 crore so far and plans to invest further for its two upcoming plants at Guwahati, Assam and Rourkela in Odisha, which will add up to 7,000 bpm (bottlings per minute) capacity.

4 min read

Continuum Green Energy Ltd has received approval from SEBI to launch its ₹3,650 crore IPO. The offer includes a fresh issue worth ₹1,250 crore and an offer-for-sale of ₹2,400 crore by its promoter.

2 min read

Tata Capital IPO: Tata Capital said that the board of directors of the company has approved the IPO of the equity shares of face value of ₹10 each, comprising a fresh issue of 23 crore shares and an OFS.

4 min read

Upcoming IPO: The initial share sale will be a combination of fresh issuance as well as an offer for sale (OFS) component. The money raised will likely be used to develop new properties and clear debt.

2 min read

Tankup Engineers IPO: The ₹19.53 crore initial share sale is solely a fresh issuance of 13.95 lakh shares. A retail investor can apply for a minimum of 1000 shares or 1 lot, requiring a minimum investment of ₹1,33,000.

2 min read

Zepto has renamed its parent entity from Kiranakart Technologies to Zepto Private Limited ahead of a potential IPO. Incorporated in 2021, Zepto operates in the fast-growing quick commerce space. This move comes ahead of a potential IPO.

3 min read

Ajax Engineering gained 2% to ₹640 on the National Stock Exchange (NSE) on April 16, with a market capitalisation of ₹7,322.04 crore. The stock is up 1.74% from the issue price of ₹629 per share.

2 min read

Upcoming IPOs: The two companies, which filed their draft IPO papers in November and December 2024, are expected to raise over ₹4,000 crore.

2 min read

Tata Capital, the financial services arm of Tata Group, has filed DRHP with SEBI for a $2 billion IPO via a confidential route. The valuation is expected to be around $11 billion.

3 min read

Hexaware Technologies shares on Tuesday climbed 2.23% to ₹640 per unit on the NSE. It is down 9.6% from the issue price of ₹708.

2 min read

Urban Company is expected to file a draft red herring prospectus (DRHP) or initial IPO papers with the market regulator, the Securities and Exchange Board of India, by next month

2 min read

Upcoming IPOs: The four companies are collectively looking to raise ₹6,345 crore through public issues. These firms received SEBI's observations between April 1 and 3.

2 min read

Spinaroo Commercial IPO was subscribed 1.52 times, with non-institutional investors (NIIs) being at the top with 1.84 times subscription. The portion set aside for retail investors was subscribed 1.2 times.

2 min read

Infonative Solutions share price: As the minimum bid size for retail individual investors was 1,600 shares, allottees were sitting at a loss of ₹25,280 per lot.

2 min read

Imagine Marketing's decision to opt for the confidential pre-filing route is part of a growing trend among Indian companies. Recently, Tata Group financial services arm Tata Capital and edtech unicorn PhysicsWallah also opted for the confidential filing route.

2 min read

Retaggio Industries share price: As the minimum bid size for retail individual investors was 6,000 shares, successful bidders managed listing gains of a mere ₹600 per lot.

2 min read

Tata Capital IPO will be a fresh issuance of equity shares, as well as an offer for sale (OFS) by a few shareholders. As of March 31, 2024, Tata Capital's holding company, Tata Sons, owned a 92.83% stake in the firm.

2 min read

Infonative Solutions IPO will be finalised on Friday, April 4, and the finalisation details will be available on the websites of the BSE and KFin Technologies.

3 min read

Spinaroo Commercial IPO was fully subscribed by April 3, with a 1.46 times overall subscription till 3:30 pm on the final day. IPO allotment status is expected to be finalised on April 4.

3 min read

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Reasons to invest in upcoming SME IPOs

Investing in upcoming SME IPOs offers several advantages. It’s an opportunity for investors to gain from the growth potential of small and medium enterprises. The SME IPOs also help with portfolio diversification, spreading the investment risk across various sectors. By investing in upcoming SME IPOs the investors get an opportunity to buy shares at a lower price than future market value if the company does well. In addition, SMEs with high growth potential could be undervalued and investing in an IPO helps to reap the benefits from the early-stage expansion of the company.

Who can participate in investing in SME IPOs?

Upcoming SME IPOs offer opportunities for a wide range of investors, from individual retail investors to large institutional participants. Retail investors can explore high-growth opportunities through SME IPO listings, as the lower application size makes it easier for those with modest capital to invest. This allows them to diversify their portfolios and tap into small-cap IPO listings that may have significant growth potential. Domestic institutions, including venture capital funds, mutual funds and portfolio management schemes, are also attracted to SME IPOs. Similarly, foreign investors, including NRIs and foreign venture capital funds, can also invest in SME IPOs.

A step-by-step guide to apply for SME IPOs

Web: You can apply for an IPO on the Upstox website. Go to https://upstox.com/ipo/ 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: Here’s how you can invest in SME IPOs through Upstox app:

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

What is the maximum number of lots I can apply for in an SME IPO?

The maximum number of lots you can apply for in an SME IPO depends on the lot size and the maximum bid amount fixed by the company. Each IPO will have a fixed lot size for different categories. There’s no fixed universal cap, the company determines the limits for each category. The investors can bid for at least a single lot size in their respective categories during the subscription of upcoming SME IPOs.

What distinguishes the DRHP from the RHP in the context of SME IPOs?

In the context of SME IPOs, the Draft Red Herring Prospectus (DRHP) is the initial filing with the stock exchanges, offering preliminary details about the company’s operations and the proposed IPO. It’s the first step in the IPO process and the subsequent approval. Any required changes are made before moving to the next stage. The Red Herring Prospectus (RHP) is a more detailed document filed after making changes as per the observations made by the stock exchanges. It includes important information like financial updates, changes in shareholding and final offer size, among others. The RHP is filed closer to the launch of the upcoming SME 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!