Ten SME share sales left in 2025: Only two IPOs have GMP over 50%; check details

Shyam Dhani Industries, E to E Transportation Infrastructure SME IPO GMPs rise.

About 10 small and medium enterprise (SME) public issues are open or scheduled to open for subscription in the primary market this week. Of these, only two issues are commanding a grey market premium (GMP) of over 50 percent in the unregulated market.

Spices maker Shyam Dhani Industries has fixed a price band of Rs 65–70 per share for its Rs 38.5-crore SME initial public offering (IPO). According to platforms tracking grey market activity, the company’s shares are quoting at a GMP of around 67–71 percent. Investorgain has quoted a GMP of Rs 50, indicating a potential listing gain of 71.43 percent, while IPO Watch has pegged the premium at over 67 percent.

Another issue drawing strong grey market interest is E to E Transportation Infrastructure. As per market trackers, the shares are commanding a GMP in the range of 45–57 percent. Investorgain has quoted a GMP of Rs 100, suggesting a possible listing gain of 57.47 percent, while IPO Watch has indicated a premium of over 45 percent.

E to E Transportation Infrastructure, which provides system integration and engineering solutions for the railway sector, will open this week. The issue, aggregating over Rs 84 crore, will open for subscription on December 26 with a price band of Rs 164–174 per share.

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The SME segment will see 10 public issues during the week. Four issues — Dachepalli Publishers, Shyam Dhani Industries, Sundrex Oil and EPW India — opened for subscription on December 22 and close on December 24.

On December 23, five more issues — Bai Kakaji Polymers, Dhara Rail Projects, Apollo Techno Industries, Admach Systems and Nanta Tech — will open for public subscription. Bidding for these offers will close on December 26, as December 25 is a public holiday.