Upcoming SME IPOs in 2025

Upcoming SME IPOs in 2025
Find details about upcoming SME IPOs and stay updated.
sme
+91
Dates yet to be announced
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Solar91 Cleantech IPOPower Generation/Distribution, SME
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Victory Electric Vehicles International IPOSME
RHP Filed

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

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OnEMI Technology IPO: The proposed issue of Kissht operator comprises a fresh issuance of shares worth up to ₹1,000 crore and an offer for sale (OFS) component of 8,879,575 shares, according to the draft red herring prospectus (DRHP) filed on August 18.

2 min read

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Vikram Solar IPO will open for subscription on August 19 2025 to raise ₹2,079 crore. The company competes with Waaree Energies and Premier Energies in solar PV module space. Here is a brief comparison of three players based on their revenue, profitability, order book, and capacity along with future sector outlook.

5 min read

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Vikran Engineering IPO, valued at ₹772 crore, comprises a fresh issue of 7.43 crore shares worth ₹721 crore and an offer for sale of 0.53 crore shares totalling ₹51 crore.

2 min read

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Vikram Solar IPO intends to use fresh issue proceeds for investment in its wholly owned unit, VSL Green Power Pvt Ltd, for both Phase I and Phase II of the project. A portion will also be utilised for general corporate purposes.

3 min read

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Shreeji Shipping Global IPO: The company has reserved 50% of its shares for the qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.

3 min read

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Gem Aromatics IPO: The ₹451.25 crore initial share sale, with a price band of ₹309 to ₹325 per share, aims to raise ₹175 crore through the issuance of new equity shares and ₹276.25 crore via the offer for sale (OFS) component.

2 min read

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Mangal Electrical will launch its ₹400 crore IPO on August 20. The company manufactures a wide range of transformers for different clients. This public issue will be a complete fresh issue of over 71 lakh shares. The company plans to use net IPO proceeds for expansion, debt repayment, and general corporate purposes. Investors can bid for Mangal Electrical IPO till August 22.

4 min read

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Patel Retail IPO: The ₹242.76 crore initial public offering is a book-building issue, comprising a fresh issuance of ₹217.21 crore and an offer for sale (OFS) of ₹25.55 crore.

3 min read

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BlueStone Jewellery share price: The ₹1,540.65 crore IPO had set a price band of ₹492 to ₹517 per share. It was a mix of new equity shares valued at ₹820 crore and an offer for sale component of ₹720.65 crore.

2 min read

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Regaal Resources IPO allotment: The issue aims to raise ₹306 crore through a fresh issue worth ₹210 crore and an offer for sale of ₹96 crore. It had a price band of ₹96 to ₹102 per share, and a lot consisted of 144 shares.

3 min read

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Studio LSD IPO: The initial share sale seeks to raise ₹70.13 crore via a fresh issuance of ₹56.10 crore and an offer for sale (OFS) aggregating to ₹14.03 crore.

3 min read

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CleanMax IPO comprises a fresh issue of shares worth up to ₹1,500 crore and an Offer For Sale (OFS) of shares valued at ₹3,700 crore by promoters and an investor shareholder, according to the Draft Red Herring Prospectus (DRHP).

3 min read

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Upcoming IPOs this week: Vikram Solar's ₹2,079.37 crore IPO is the biggest initial share sale to open for subscription this week. The company is involved in manufacturing solar photovoltaic (PV) modules and providing engineering, procurement, and construction (EPC) solutions for solar power projects.

4 min read

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Upcoming IPOs: The company -- which has an R&D centre for electric vehicles in the UK, supported by the government there -- is ready with its electric motorcycle but will launch it only when the market is ready, especially in terms of charging infrastructure, MD and co-founder Anupam Thareja told PTI.

3 min read

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BlueStone Jewellery IPO allotment: The ₹1,540.65 crore initial share sale, with a price band of ₹492-₹517 per share, was an issuance of new equity shares costing ₹820 crore and an offer for sale of ₹720.65 crore.

3 min read

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Regaal Resources IPO: The ₹306 crore initial share sale has a fresh issue component of ₹210 crore and an offer-for-sale (OFS) aggregating to ₹96 crore.

3 min read

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The IPO market is expected to remain hot for the remaining part of the year as well, with strong demand for current issues. However, large issues continue to hold a higher offer-for-sale component, which remains a key cause of concern for market experts.

5 min read

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Prostarm Info Systems and Quality Power Electrical Equipments are the top IPOs of 2025, giving the highest returns in relation to their IPO issue prices. They are followed by Highway Infrastructure, Aditya Infotech, National Securities Depository Ltd (NSDL) and Belrise Industries.

5 min read

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The IPO market has been strong in 2025. Despite 67 IPOs trading with gains, the NIFTY IPO index is down 6.9% YTD. Five IPOs have seen gains of over 100%. Quality Power, Tejas Cargo, Grad Continent Hotels and Ather Energy IPOs witnessed strong investor interest despite weak listing.

3 min read

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JSW Cement share price: The ₹3,600 crore initial public offering, which was a fresh issue of ₹1,600 crore and an offer for sale of ₹2,000 crore, had set a price band of ₹139 to ₹147 per share.

2 min read

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All Time Plastics share price: The IPO was a mix of fresh issuance of shares worth up to ₹280 crore and an offer-for-sale of more than 43.8 lakh equity shares aggregating to ₹120.6 crore, at the upper end of the price band, by promoters.

2 min read

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Mangal Electrical IPO: The initial share sale seeks to raise ₹400 crore via fresh issuance of equity shares. There is no offer for sale (OFS) component.

2 min read

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Fractal Analytics IPO includes a fresh issue worth up to ₹1,279.3 crore, alongside an offer for sale (OFS) of ₹3,620.7 crore by existing investors, as per the draft red herring prospectus (DRHP) filed on Tuesday.

3 min read

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BlueStone Jewellery IPO, which seeks to raise ₹1,540.65 crore, involves an issuance of new equity shares worth ₹820 crore and an offer-for-sale (OFS) component of ₹720.65 crore.

3 min read

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Regaal Resources IPO: The initial share sale, which aims to raise ₹306 crore, consists of new equity shares worth ₹210 crore and an offer for sale of ₹96 crore by promoters Shruti Kishorepuria, Anil Kishorepuria, BFL Pvt Ltd and SRM Pvt Ltd.

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.
Other IPO Links
  1. Upcoming IPOs