5 biggest SME IPOs of 2024 by offer size

The SME IPO street has seen a flurry of activity this year. More than 200 public offers have been launched on the SME platforms of BSE and NSE in 2024 so far, aiming to raise approximately ₹5,400 crore.

SME public offers are considered low-ticket size issues. An analysis of SME IPO data showed companies hit the capital markets to raise as low as ₹4 crore from public investors through listing on stock exchanges. The offer size of a majority of SME IPOs ranged between ₹4 crore and ₹50 crore.

However, there are some SME public offers which surprised investors by their offer size which was at par with some of the mainboard public offers.

According to the analysis, as many as eight IPOs launched in 2024 had an offer size of more than ₹100 crore. Moreover, 22 public offers had an offer size between ₹50 crore and ₹100 crore.

Here is a list of five top SME IPOs in terms of offer size.

KP Green Engineering Limited (Rs 189.5 crore)

Sahasra Electronics Solutions Limited (₹186.16 crore)

The IPO of Sahasra Electronics Solutions Limited is close second in terms of offer size in 2024 so far. The electronics manufacturing services provider launched its IPO with an offer size of ₹186.16 crore on the NSE SME platform from September 26 to 30. The stock made its market debut on October 4, with a listing premium of 90% against the issue price of ₹283 per share.

Mach Conferences and Events Limited (₹125.28 crore)

Mach Conferences and Events Limited launched a public offer with an issue size of ₹125.28 crore on the BSE SME platform. The IPO was open for subscription from September 4 to 6. The company made its market debut on September 11. The stock has risen from ₹225 (issue price) to ₹258.65 per share on the BSE SME platform, producing returns of around 15% so far.

Ganesh Green Bharat Limited (₹125.23 crore)

Ganesh Green Bharat Limited launched its IPO with an issue size of ₹125.23 crore on the NSE SME platform. The IPO was open for subscription from July 5 to 9. The company listed on the exchange on July 12. The stock gave listing day returns of 109% against the listing price of ₹190. The stock has given returns of over 100% in 2024 so far to trade at ₹386.25.

Tunwal E-Motors Limited IPO (₹115.64 crore)

Tunwal E-Motors Limited’s public offer of ₹115.64 crore is the fifth largest in 2024 so far. The IPO was open for subscription from Jul 15 to 18 and made its market debut on July 23 on the NSE SME platform.

The stock listed at ₹64 apiece, reflecting an upside of 8.47% compared to the IPO price of ₹59.

In addition to these top five issues, the offer sizes of IPOs of Petro Carbon and Chemicals Limited, Vision Infra Equipment Solutions Limited and Shiv Texchem Limited exceeded ₹100 crore mark.

Petro Carbon and Chemicals’ offer size was ₹113.16 crore, followed by Vision Infra Equipment Solutions (₹106.21 crore) and Shiv Texchem Limited (₹101.35 crore).