SME IPO — NSE Emerge & BSE SME
Every SME IPO we track, in one place — 10 open now, 3 coming up and 123 in the archive. SME issues list on NSE Emerge or BSE SME, carry a minimum application of about ₹1 lakh, and trade in lot multiples after listing.
SME IPOs open today
Accepting applications right now. The closing date is the last day to bid.
Upcoming SME IPOs
Dates announced, bidding not yet started.
Closed SME IPOs — awaiting listing
Bidding is over; allotment and listing are still to come.
Recently listed SME IPOs
The nine most recent SME listings.
What to check before applying to an SME IPO
- Lot size and minimum amount. SME lots are large by design. Work out the full rupee amount that will be blocked in your bank account before you bid.
- The prospectus, not the premium. Read the objects of the issue, promoter holding, related-party transactions and the risk factors in the RHP.
- Financial track record. Check whether revenue and profit growth is genuine and sustained, or concentrated in the year just before the issue.
- Liquidity after listing. SME scrips trade in lot multiples with a market maker, and volumes can be very thin. Plan for the possibility that exiting takes time.
- Subscription data over grey market chatter. Follow the category-wise subscription rather than GMP, which is unofficial and can change hourly.
New to the process? Read how to apply for an IPO and our IPO glossary. This page is information only and is not investment advice — see our disclaimer.
Frequently Asked Questions
What is an SME IPO?
An SME IPO is a public issue by a small or medium enterprise that lists on a dedicated exchange platform — NSE Emerge or BSE SME — rather than the main board. SEBI applies lighter listing requirements to these companies, which is why the issues are smaller and the disclosure history is shorter.
What is the minimum investment in an SME IPO?
SEBI sets a minimum application value of roughly ₹1 lakh or more for SME IPOs, against about ₹14,000–₹15,000 for a Mainboard issue. One lot is the smallest application you can make, and you cannot apply for a part of a lot.
How is an SME IPO different from a Mainboard IPO?
SME issues are smaller, have a much larger lot size, are traded in lot multiples after listing, have a market maker obliged to provide two-way quotes for three years, and are typically far less liquid. Their reservation structure also differs — many SME issues have no QIB anchor book of the size seen on the main board.
Are SME IPOs riskier than Mainboard IPOs?
They carry different risks. SME companies are smaller, often promoter-driven, and have thinner financial track records and lower post-listing liquidity, so prices can move sharply on small volumes. SEBI has repeatedly cautioned investors to read the offer document rather than rely on grey market chatter. Nothing on this page is investment advice.
Can I sell SME IPO shares on listing day?
Yes, once they are credited to your demat account and trading opens, but SME scrips trade only in multiples of the lot size and can hit circuit limits quickly, so an exit at the price you want is not guaranteed.