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Anondita Medicare, Tankup Engineers among top 10 SME IPOs of 2025; check list
3 min read | Updated on December 23, 2025, 12:35 IST
SUMMARY
Top SME IPOs of 2025: In 2025, one SME IPO recorded gains of over 400%, one has risen more than 300%, while seven have climbed over 200%.
The ₹69.50 crore Anondita Medicare IPO was completely a fresh issuance of 47,93,000 shares. | Image: Shutterstock
Top SME IPOs of 2025: The small and medium enterprises IPO segment witnessed several successful debuts on the NSE SME Platform Emerge and BSE SME on the back of strong responses across investor categories. Companies like Anondita Medicare and Tankup Engineers were the top-performing SME IPOs in 2025 compared to their issue price.
The others in the list include Fabtech Technologies Cleanrooms, Cryogenic OGS, Sacheerome, Zelio E-Mobility, Monolithisch India, Avax Apparels & Ornaments, TechD Cybersecurity and Maxvolt Energy Industries.
Top SME IPOs of 2025
| Company | Issue price | Market price* | Gain from issue price |
|---|---|---|---|
| Anondita Medicare | ₹145 | ₹825.75 | 469.48% |
| Tankup Engineers | ₹140 | ₹679.6 | 385.42% |
| Fabtech Technologies Cleanrooms | ₹85 | ₹337 | 296.47% |
| Cryogenic OGS | ₹47 | ₹47 | 258.61% |
| Sacheerome | ₹102 | ₹349.15 | 242.30% |
| Avax Apparels & Ornaments | ₹70 | ₹235 | 235.71% |
| Zelio E-Mobility | ₹136 | ₹456.55 | 235.69% |
| Monolithisch India | ₹143 | ₹480 | 235.66% |
| TechD Cybersecurity | ₹193 | ₹619.25 | 220.85% |
| Maxvolt Energy Industries | ₹180 | ₹500 | 177.77% |
Anondita Medicare IPO
The ₹69.50 crore initial share sale of Anondita Medicare was completely a fresh issuance of 47,93,000 shares. The initial share sale was subscribed 300.89 times, according to Chittorgarh. The qualified institutional buyers (QIBs) category was subscribed 153.03 times, while the non-institutional investors' (NIIs) portion was booked 531.82 times. The part reserved for individual investors was subscribed 286.20 times.
The stock debuted on the NSE SME platform Emerge on September 1 at ₹275.5 per share, a premium of 90% over the IPO issue price of ₹145 apiece.
Anondita Medicare manufactures healthcare products under the 'Cobra' brand. The company operates manufacturing facilities at Noida. Its products are exported to several international markets, including Africa, Southeast Asia and the Middle East.
The company posted a 115.75% increase in its consolidated net profit to ₹13.01 crore in the half year ended September 2025, compared to ₹6.03 crore in the corresponding period of the previous fiscal year.
The revenue from operations increased 72.26% to ₹54.09 crore in H1 FY26 as against ₹31.4 crore a year back.
Tankup Engineers IPO
The ₹19.53 crore Tankup Engineers IPO was only a fresh issuance of 13.95 lakh shares.
It was subscribed 124.67 times, with NIIs subscribing their portion 437.62 times, individual investors 46.51 times and QIBs 43.65 times.
The stock started trading on the NSE SME platform Emerge on April 30 at ₹175 per share, reflecting a premium of 25% over the IPO issue price of ₹140 apiece.
Tankup Engineers offers custom vehicle superstructures and mobile storage solutions for sectors such as defence, aviation, infrastructure and petroleum.
The company had posted a standalone net profit of ₹2.03 crore in H1 FY26, up 2.03% from ₹52 lakh in the year-ago period. Its revenue from operations advanced 220.74% to ₹21.65 crore in the half year ended September 2025 compared to ₹6.75 crore in H1 FY25.
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