Expert insights on Mainboard and SME IPO trends.
Q-Line Biotech Limited is set to launch India’s largest SME IPO of 2026 on May 21, aiming to raise ₹214.48 crore through a fresh issue of shares. The healthcare diagnostics company has attracted strong market attention due to its rapid revenue growth, expanding diagnostics business, and large-scale fundraising plans.
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Vegorama Punjabi Angithi Limited launched its SME IPO today with positive grey market sentiment and rising investor interest in the food and cloud kitchen sector. The Delhi-based quick service restaurant (QSR) brand aims to raise around ₹38 crore through the public issue.
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M R Maniveni Foods Limited is set to launch its SME IPO on May 22, 2026, aiming to raise nearly ₹31 crore through a fresh issue of shares. The Tamil Nadu-based packaged snacks and food products company plans to utilize the IPO proceeds for manufacturing expansion, working capital requirements, and brand growth initiatives.
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Autofurnish Limited is set to launch its SME IPO on May 21, 2026, with the company aiming to raise ₹14.60 crore through a fixed-price issue. The Delhi-based automotive accessories manufacturer plans to utilize the proceeds for machinery expansion, working capital requirements, and business growth initiatives.
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Bio Medica Laboratories Limited launched its SME IPO today with the company aiming to raise fresh capital for manufacturing expansion and working capital needs. The pharmaceutical company’s public issue has gained investor attention amid growing demand in India’s healthcare and pharma sector.
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Harikanta Overseas Limited launched its SME IPO today with the company aiming to raise ₹25.63 crore through a fresh issue of shares. The Surat-based synthetic textile manufacturer plans to utilize the proceeds for business expansion, working capital requirements, and strengthening manufacturing operations.
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Teamtech Formwork Solutions Limited is set to launch its SME IPO on May 19, 2026, with the company aiming to raise ₹50.15 crore through a fresh issue of shares. The Hyderabad-based construction solutions company plans to use the proceeds for a new manufacturing unit, debt repayment, and working capital expansion.
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NFP Sampoorna Foods Limited is set to launch its SME IPO on May 18, 2026, with the company aiming to raise around ₹24.53 crore through a fresh issue of shares. The Delhi-based food processing company plans to utilize the proceeds for debt repayment, working capital needs, and expansion of its dry fruits business.
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RFBL Flexi Pack Limited launched its SME IPO today with a price band of ₹47–₹50 per share. The Gujarat-based flexible packaging manufacturer plans to utilize the IPO proceeds mainly for debt repayment, working capital, and future expansion initiatives.
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Recode Studios IPO received an overwhelming response from investors on the final day of bidding, with strong participation from retail and high-net-worth investors. The beauty and personal care company’s SME issue has emerged as one of the most talked-about IPOs this week.
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Simca Advertising Limited is set to launch its SME IPO on May 8, 2026, aiming to raise ₹58.04 crore through a book-building issue. The outdoor advertising company plans to strengthen its digital OOH presence and expand operations across major Indian cities.
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Bagmane Prime Office REIT IPO witnessed strong investor participation and achieved full subscription on the second day of bidding. Backed by premium office assets in Bengaluru and major institutional interest, the ₹3,405 crore REIT issue continues to gain traction in the market.
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Bengaluru-based Leapfrog Engineering Services Limited, an integrated Engineering, Procurement, Construction, and Commissioning (EPCC) firm, is launching its ₹88.51 crore initial public offering on Thursday, April 23, 2026. Specializing in high-end electrical, automation, and fire safety solutions for heavy industries like Oil & Gas and Pharma, the company is seeking capital to establish a new assembly unit and strengthen its global presence.
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Citius Transnet Investment Trust, the infrastructure-focused yield platform, has entered its second day of bidding with strong momentum. Following a robust anchor round from global funds, the ₹1,105 crore issue is seeing steady demand from institutional and non-institutional investors seeking stable, long-term returns from its portfolio of 10 major road assets.
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Lucknow-based Safety Controls & Devices Limited, an integrated EPC (Engineering, Procurement, and Construction) player, has launched its ₹48.00 crore IPO on the BSE SME platform. With a strong order book of over ₹139 crore and a focus on government-backed power transmission and solar projects, the company aims to use the proceeds to stabilize its working capital and pare down existing debt.
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Jaipur-based Emiac Technologies Limited, a specialist in AI-powered digital marketing and business automation, has officially announced its ₹31.75 crore initial public offering. Opening on Friday, March 27, 2026, the company has fixed a price band of ₹93–₹98 per share, aiming to fund its next phase of global client acquisition and high-end tech infrastructure.
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Mumbai-based Highness Microelectronics Limited, a specialized manufacturer of high-reliability digital imaging and rugged display solutions, is launching its ₹21.67 crore IPO on Tuesday, March 24, 2026. The company, which serves mission-critical sectors like Defense, Railways, and Healthcare, is seeking capital to establish a new assembly line in Mumbai and bolster its working capital for large-scale infrastructure projects.
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Mumbai-based Vivid Electromech Limited, a specialized manufacturer of Low Voltage (LV) and Medium Voltage (MV) electrical panels, is launching its ₹130.54 crore SME IPO on Wednesday, March 25, 2026. With a strong focus on the data center and renewable energy sectors, the company is looking to utilize the fresh capital to settle debts and fuel its next phase of operational expansion.
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Hyderabad-based pharmaceutical formulation specialist Sai Parenterals Limited has officially announced its IPO price band as it prepares to list on the NSE and BSE. The ₹409 crore offering is strategically timed to fund the company’s aggressive expansion into international markets, including a high-profile acquisition in Australia and the establishment of a state-of-the-art R&D center.
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Ahmedabad-based Speciality Medicines Limited, a high-growth distributor of specialty pharmaceutical formulations (oncology, immunology, and neurology), is launching its ₹29.14 crore SME IPO this Friday. With a price band of ₹117 to ₹124, the company aims to transition from a pure distribution model to a research-driven entity by setting up its own R&D center and accelerating international product registrations.
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The ₹400 crore mainboard IPO of Ahmedabad-based GSP Crop Science concludes its three-day subscription window today. While the overall issue is nearly fully booked at 96% (as of Day 2 close), a stark divide has emerged between institutional enthusiasm and retail caution, with the Grey Market Premium (GMP) remaining flat at par.
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Central Mine Planning & Design Institute (CMPDI), the technical "brain" of India’s coal sector and a Mini Ratna subsidiary of Coal India, has opened its Anchor Investor bidding today, March 18, 2026. This 100% Offer for Sale (OFS) is part of the government’s strategic push to list all Coal India subsidiaries, following the blockbuster listing of Bharat Coking Coal (BCCL) earlier this year.
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Novus Loyalty Limited, a Gurugram-based "Loyalty-as-a-Service" provider, is currently in the midst of its ₹60.15 crore SME IPO. While the retail segment showed an early lead on Day 1, the overall subscription remains at a balanced pace as investors weigh the company’s explosive H1-FY26 profit growth against its aggressive pricing in a competitive SaaS market.
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Ahmedabad-based GSP Crop Science Limited, a research-driven agrochemical manufacturer with over 40 years of industry presence, has launched its ₹400 crore mainboard IPO today. Following a successful ₹120 crore anchor round, the company is offering a mix of fresh equity and an Offer for Sale (OFS) to strengthen its balance sheet and capitalize on the rising global demand for crop protection solutions.
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Tipco Engineering India Limited, a Haryana-based specialist in industrial process machinery, has finalized its plans for a ₹60.55 crore IPO on the BSE SME platform. As the only SME issue currently scheduled to launch next week, it is drawing significant attention from investors tracking high-growth industrial manufacturing. The company aims to use the funds primarily to become debt-free and expand its working capital.
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Novus Loyalty Limited, a B2B technology provider specializing in digital rewards and loyalty infrastructure, has opened its Anchor Investor bidding today, March 16, 2026. The company is launching its ₹60.15 crore SME IPO to fund new product development and aggressive marketing. With a price band of ₹139 to ₹146, the issue is set to open for public subscription tomorrow, March 17.
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Elfin Agro India Limited, an established agro-processing player specializing in high-fiber wheat products and edible oils, launched its ₹25.03 crore BSE SME IPO today. With a strong presence across 8 states and brands like "Shiv Nandi," the company is offering fresh equity to optimize its working capital and capitalize on the growing demand for packaged ethnic staples.
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Rajputana Stainless Limited, a prominent Gujarat-based manufacturer of high-grade stainless steel long and flat products, has finalized the details for its ₹254.98 crore mainboard IPO. The company, which serves critical sectors like aerospace, defense, and oil & gas, is entering the market to fund a major forward-integration project into the high-margin seamless pipe segment.
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Srinibas Pradhan Constructions Limited (SPCL), a key player in Odisha’s infrastructure sector, is set to launch its ₹20.32 crore SME IPO on the NSE Emerge platform tomorrow. The company, which boasts a robust order book of over ₹184 crore, is offering a mix of fresh equity and an Offer for Sale (OFS) to fund its working capital and strengthen its balance sheet for larger government tenders.
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Acetech E-Commerce Limited, a tech-driven dropshipping and cross-border retail specialist, is currently in the middle of its ₹48.95 crore IPO on the NSE SME platform. While the grey market remains quiet, the issue has seen steady participation from retail investors attracted by the company’s 71% profit growth and its strategic shift from an LLP to a public powerhouse.
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Yaap Digital Limited, a high-tech digital marketing and content agency with operations in India, UAE, and Singapore, launched its ₹80.11 crore NSE SME IPO today. Backed by marquee investors like Mukul Agrawal and Sunil Singhania, the company plans to use the proceeds to acquire creative agency GoZoop and establish a cutting-edge AI-led content production hub.
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Mumbai-based Striders Impex Limited, a fast-growing player in the toys and kids' consumer merchandise segment, is set to launch its ₹36.29 crore SME IPO tomorrow. With a portfolio that includes global licenses like Disney and Hamleys, the company is looking to utilize public funds to solidify its footprint in the Middle East and scale its proprietary brand network.
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Accord Transformer & Switchgear Limited, a specialist in electrical infrastructure and EV charging solutions, has launched its ₹25.59 crore IPO today. Driven by strong demand in the power sector and strategic partnerships with global leaders like Schneider Electric, the issue is already seeing significant retail traction and commanding one of the highest premiums among this week’s SME offerings.
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Rajkot-based Omnitech Engineering Limited, a high-precision manufacturer for global energy and aerospace giants, is launching its ₹583 crore Mainboard IPO this Wednesday. Backed by a massive ₹1,764 crore order book and a 132% surge in annual profits, the company aims to use the fresh capital to build two new manufacturing facilities and slash its debt.
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Faridabad-based Mobilise App Lab Limited, a specialized SaaS (Software as a Service) provider, has announced its ₹20.10 crore SME IPO. The company, which provides cloud-based ERP solutions for sectors like healthcare and education, is set to open its doors to public investors next Monday with a price band of ₹75 to ₹80.
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Kolkata-based Manilam Industries India Limited, a leading manufacturer of decorative laminates and plywood, is set to launch its ₹39.95 crore NSE SME IPO this Friday. With a massive portfolio of 1,000+ designs and established experience centers in major metros, the company aims to use the fresh capital to settle debts and significantly expand its working capital for a nationwide B2C brand offensive.
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Latur-based Yashhtej Industries (India) Limited, a rising player in the soybean processing and agro-commodity sector, has launched its ₹88.88 crore SME IPO today. The company, which specializes in soybean crude oil and de-oiled cake (DOC), is offering shares at a fixed price of ₹110 to fund major capital expenditures and diversify into solar energy.
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PNGS Reva Diamond Jewellery Limited, a high-margin spin-off from the legendary P.N. Gadgil & Sons group, has finalized the details for its ₹380 crore Mainboard IPO. The issue, which is entirely a fresh sale of shares, aims to fund a massive expansion—transitioning from its current "shop-in-shop" model to a dominant standalone retail presence in the affordable luxury diamond segment.
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Mumbai-based Clean Max Enviro Energy Solutions, India’s largest renewable energy provider for the commercial and industrial (C&I) sector, has announced its ₹3,100 crore mainboard IPO. Following a successful pre-IPO funding round from Temasek and Bain Capital, the company is set to hit the market next Monday, targeting a valuation of over ₹12,300 crore.
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New Delhi-based Gaudium IVF & Women Health Limited, a pioneer in Assisted Reproductive Technology (ART), is set to make stock market history as the first specialized fertility services provider to list in India. The ₹165 crore IPO will officially open for public subscription this Friday, following the Anchor Investor bidding process which is taking place today, February 18.
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Global AI powerhouse Fractal Analytics Limited enters the final day of its public offering today, February 11, 2026. While the issue received massive backing from anchor investors like SBI MF and Goldman Sachs, retail and HNI demand has been measured as investors weigh high valuations against the company's "pure-play AI" moat.
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New Delhi-based NFP Sampoorna Foods Limited, a specialized processor and distributor of premium dry fruits and makhana, is officially listing on the NSE SME platform today. Following a successful subscription window earlier this month, the company enters the secondary market with a focus on using its ₹24.53 crore proceeds to scale its "B2C" healthy snacking brand.
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Ahmedabad-based Biopol Chemicals Limited, a manufacturer of silicone-based speciality chemicals, enters the second day of its public bidding with a cautious response from investors. The ₹31.26 crore NSE SME issue, priced between ₹102 and ₹108, is primarily being raised to fund industrial land acquisition in Gujarat and reduce existing company debt.
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Noida-based PAN HR Solutions Limited, a comprehensive provider of staffing and workforce management solutions, has achieved full subscription on the second day of its ₹17.04 crore SME IPO. While institutional investors have shown strong interest, retail participation remains cautious as the issue approaches its final day of bidding.
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Delhi-based Marushika Technology Limited, an integrated provider of IT, telecom infrastructure, and specialized defense auto-tech solutions, has finalized its ₹26.97 crore SME IPO. The company, which serves high-profile clients like Bharat Electronics (BEL) and the National Security Guard (NSG), is set to open its bidding process this Thursday at a price band of ₹111–₹117.
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Alphabet-backed Aye Finance Limited, an NBFC focused on the micro-enterprise (MSME) sector, sees its ₹1,010 crore IPO enter its final subscription day. While the company boasts a massive reach across 18 states, concerns over high employee attrition and rising NPAs have led to a cautious response from the market.
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Global AI giant Fractal Analytics Limited has officially announced its price band and timeline for its ₹2,834 crore initial public offering. Backed by TPG and Apax Partners, the company is seeking a valuation of approximately ₹15,474 crore as it gears up to become the first major AI-focused firm to list on the Indian bourses.
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New Delhi-based Grover Jewells Limited, a major player in the wholesale gold jewellery and casting segment, is preparing to launch its ₹33.83 crore SME IPO this Wednesday. With a price band of ₹83–₹88, the company aims to fuel its B2B expansion across India and international markets like Australia and the UAE.
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Ahmedabad-based Biopol Chemicals Limited, a manufacturer and distributor of high-demand speciality chemicals for textiles and home care, is launching its ₹31.26 crore SME IPO. The public subscription period is scheduled to open this Friday, February 6, 2026, on the NSE SME platform.
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New Delhi-based Brandman Retail Limited, a key distributor for global giants like New Balance, On, and Salomon, has announced its ₹86.09 crore SME IPO. The company, which operates a high-growth "asset-light" retail model across 19 stores in North India, will open its bidding window tomorrow, Wednesday, February 4, 2026.
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Rajasthan-based Kanishk Aluminium India Limited, a manufacturer of aluminum profiles and the brand "Baari by Kanishk," is in the second day of its public offering. The ₹29.20 crore SME IPO is a fixed-price issue aiming to strengthen the company’s financials by significantly reducing its debt.
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Vadodara-based Shayona Engineering Limited, a diversified provider of precision engineering and piping solutions, sees its ₹14.86 crore SME IPO enter its final hours of bidding today, Tuesday, January 27, 2026. While the overall demand has been moderate, the issue has seen a strong pull from institutional buyers as it prepares for its debut on the BSE SME platform.
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Greater Noida-based Msafe Equipments Limited, a specialized manufacturer and rental provider of scaffolding and height-safety solutions, is seeing robust demand on the second day of its ₹66.42 crore SME IPO. Backed by a 48% revenue growth in FY25, the issue is currently oversubscribed as investors eye the booming infrastructure safety market.
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Ahmedabad-based Accretion Nutraveda Limited, a specialized manufacturer of Ayurvedic and nutraceutical formulations, has opened its ₹24.77 crore SME IPO today, Tuesday, January 27, 2026. The company, which operates a WHO-GMP certified facility, is offering shares in the price band of ₹122 to ₹129 to fund its next phase of manufacturing automation and global expansion.
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Mumbai-based CKK Retail Mart Limited, a prominent distributor of packaged agro-commodities and carbonated beverages, has announced its ₹88.02 crore SME IPO. The company, which recently expanded into branded juices with "FruitzzzUp," is scheduled to open its public subscription window this coming Friday, January 30, 2026.
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Madurai-based Hannah Joseph Hospital Limited, a specialist in Neurosciences and Trauma care, sees its ₹42 crore SME IPO enter its final day of bidding today, Tuesday, January 27, 2026. While institutional interest has remained steady, retail participation has been cautious as the hospital eyes major expansion into the radiation oncology sector.
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NFP Sampoorna Foods Limited, a growing player in the processing and distribution of premium dry fruits like cashews, almonds, and makhana, has announced its ₹24.53 crore SME IPO. The public subscription period is scheduled to begin on Tuesday, January 27, 2026, on the NSE SME platform.
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Ahmedabad-based Accretion Nutraveda Limited, a specialized manufacturer of Ayurvedic and nutraceutical products, is set to launch its ₹24.77 crore SME IPO on Tuesday, January 27, 2026. Operating as a Contract Development and Manufacturing Organization (CDMO), the company is seeking funds to automate its current facilities and set up a new manufacturing unit to meet growing global demand.
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Precision engineering specialist Shayona Engineering Limited is all set to launch its ₹14.86 crore SME IPO tomorrow, January 22, 2026. The company, known for its expertise in heavy fabrication and advanced piping solutions, has seen its grey market premium (GMP) remain steady ahead of the bidding window.
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Shadowfax Technologies IPO: Flipkart-Backed Logistics Giant Sets Price Band at ₹118–₹124; Anchor Bidding Opens Today
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Hannah Joseph Hospital Limited, a specialized multi-specialty hospital in Madurai focused on Neurosciences and Trauma care, is launching its ₹42 crore SME IPO. The anchor investor bidding window has opened today, January 21, 2026, ahead of the public issue which opens for bidding tomorrow, Thursday.
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The book-built SME IPO of Ahmedabad-based technical textile manufacturer Aritas Vinyl Limited is currently open for public bidding. As of today, Monday, January 19, 2026, the issue has seen a moderate response from investors, with the Grey Market Premium (GMP) currently trading at ₹0, suggesting a cautious market outlook ahead of its closing tomorrow.
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Hyderabad-based Digilogic Systems Limited, a specialist in automated test equipment for the defence and aerospace sectors, is launching its ₹81 crore SME IPO. The anchor portion of the issue opens today, January 19, 2026, with the public subscription period set to run from tomorrow, January 20, until January 22.
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The much-anticipated SME IPO of Indo SMC Limited, a leading manufacturer of electrical enclosure boxes and composite materials, is set to open for public bidding tomorrow, January 13, 2026. Backed by marquee investor Ashish Kacholia, the company aims to raise ₹91.95 crore to fund its aggressive expansion plans in the power infrastructure sector.
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Bengaluru-based cloud-native SaaS unicorn Amagi Media Labs is set to launch its ₹1,789 crore initial public offering tomorrow, January 13, 2026. As a global leader in cloud-based broadcast and Connected TV (CTV) technology, the company has attracted significant attention, with anchor investor bidding taking place today, January 12.
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The SME IPO of Faridabad-based rubber component manufacturer, Defrail Technologies Ltd, is seeing steady demand as it reaches its final bidding day today, January 12, 2026. With a price band of ₹70–₹74, the issue has been oversubscribed, primarily driven by retail investors.
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Mehsana-based solar energy solutions provider, GRE Renew Enertech Ltd, is launching its ₹39.56 crore SME IPO tomorrow, January 13, 2026. The company, which operates on both CAPEX and RESCO models, has opened its anchor book today, drawing early interest from institutional investors.
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New Delhi-headquartered Armour Security (India) Limited, a provider of manned guarding and facility management services, has announced its ₹26.51 crore SME IPO. The issue is scheduled to open for subscription this Wednesday, January 14, 2026, as the company seeks to fund its nationwide expansion and working capital needs.
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The fixed-price SME IPO of Narmadesh Brass Industries Ltd has opened for public subscription today, January 12, 2026. The company, a prominent player in Gujarat’s "Brass City," aims to raise ₹44.87 crore. On its first day, the issue saw moderate interest with a subscription of 49% (0.49x), while the Grey Market Premium (GMP) remains flat.
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The NSE SME IPO of Bengaluru-based Avana Electrosystems Ltd, a manufacturer of specialized control and relay panels, has opened for bidding today, January 12, 2026. With a price band of ₹56–₹59, the issue has already seen a healthy response, particularly from retail investors, as the company looks to raise ₹35.22 crore.
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SBI Funds Management Limited, the asset management arm of the State Bank of India, has officially kicked off its IPO process for a H1 2026 debut. The company has appointed a powerhouse consortium of nine investment banks to manage the ₹11,000–₹12,500 crore public issue, which will see promoters SBI and Amundi divest a combined 10% stake.
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Defrail Technologies Limited, an RDSO-approved manufacturer of rubber components for the automotive, railway, and defense sectors, has finalized its BSE SME listing plans. The company aims to raise ₹13.77 crore through an entirely fresh issue of shares to fund its capital expenditure and solar power initiatives at its Faridabad facilities.
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Avana Electrosystems Limited, a specialist in customized control and relay panels for high-voltage power systems, has announced its entry into the public market via the NSE SME (Emerge) platform. The company aims to raise ₹35.22 crore to fund the establishment of a new integrated manufacturing facility and meet its growing working capital needs.
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West Bengal-based Yajur Fibres Limited is seeing a steady response for its ₹120.41 crore IPO, which is the largest SME issue opening this week. The company, a specialist in "cottonising" bast fibers like flax and hemp, is witnessing high interest from retail investors who have already pushed that segment past the 1.0x mark on the second day of bidding.
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Gabion Technologies India Limited, a leading provider of geotechnical engineering solutions like steel gabions and rockfall protection, concluded its bidding process today with record-breaking numbers. The ₹29.16 crore issue saw intense bidding across all categories, signaling a high-conviction "Blockbuster" listing scheduled for next week.
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The maiden public offer of Victory Electric Vehicles International Ltd is seeing steady momentum as it enters its second day of bidding. The company, a diversified manufacturer of electric two-wheelers and customized three-wheelers, is looking to raise ₹34.56 crore to fuel its expansion across 12 Indian states.
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After shelving its previous plans in 2022 due to market volatility, BoAt is back in the IPO race with a trimmed issue size of ₹1,500 crore. The company, led by Aman Gupta and Sameer Mehta, is positioning itself as a mature, profitable hardware-tech player rather than a high-burn startup, having successfully posted a profit of ₹61 crore in FY25.
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Bengaluru-based media SaaS unicorn Amagi Media Labs has finalized its public offer details. The IPO will open on January 13, 2026, with a price band of ₹343 to ₹361 per share. The company aims to raise approximately ₹1,788.62 crore, valuing the firm at nearly ₹7,810 crore ($885 million) at the upper end of the price band.
