After a brief lull, June saw more SME IPOs cross 100x subscription as sentiment revives

The trend in June was in sharp contrast to some of the earlier months when both, the number of SME IPOs and the average subscription levels remained quite subdued – or realistic as many in the market say.

June was the best month since September 2024 for SME IPOs in terms of the number of public issuances, with as many as 30 companies tapping the primary market, with nearly a third of the issues mopping up subscription in excess of 100 times, according to statistics from Prime Database.

This is significant, as the last couple of months before June saw a slight dip in the number of SME issuances and even the subscriptions had dropped to a more realistic level.

In June, a total of 10 SME IPOs saw oversubscription in excess of 100 times each, with four of them getting subscribed well above 200 times.

Insight from Prime Database showed that SME IPOs of Sacheerome, Eppeltone Engineers, Suntech Infra Solutions and Adcounty Media India were all subscribed more than 200 times each.

Further, issues of SMEs like Silky Overseas, Neetu Yoshi, Ace Alpha Tech, Mayasheel Ventures, Influx Healthtech and Monolithisch India all saw their IPOs getting subscribed more than 100 times each.

Also Read: SME IPOs in 2025: A year of dazzling debuts and deep disappointments

The trend in June was in sharp contrast to earlier months when both the number of SME IPOs and the average subscription levels remained quite subdued, or realistic, as many in the market said.

In May, there were a total of 13 SME IPOs with only two breaching the 100x mark in terms of over-subscription. April was the most lacklustre month of the year with just four SME IPOs, none with such oversubscriptions – the only exception being Tankup Engineers that was subscribed around 89 times.

Market experts attribute the SME IPO revival to an overall improved market sentiment that has been reflected in the mainboard arena too, as June was a busy month for main board segment with eight IPOs.

“The overall market sentiment in June was relatively better when compared to some of the earlier months and that led to the jump in the number of SME IPOs and also the oversubscription levels,” said Pranav Haldea, Managing Director, Prime Database Group.

In January, a total of 20 SME IPOs were launched, with 13 of those subscribed more than 100 times. Similarly, February saw 20 SME IPOs hitting the markets though only one – Chamunda Electrical – got highly over-subscribed at nearly 513 times.

Experts advise that investors need to be cautious while investing in SME IPOs, as often the frenzy of subscription and listing gains becomes the primary reason for investor interest.

“Investors need to be extremely cautious as SME IPOs are very small in size, and it does not take a lot of demand for the issue to get hugely over-subscribed. One should do enough due diligence before investing even though data has shown that most investors invest in IPOs only for the listing gains,” added Haldea.

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