SME IPOs: Over 2x listing gains, massive oversubscription, SME frenzy beats mid and smallcap

The small and mid-sized enterprises' initial public offerings have been on a stellar run, beating the small and mid-cap index by a healthy margin.

The small and mid-sized enterprises' initial public offerings have been on a stellar run, beating the small and mid-cap index by a healthy margin. Given the latest trajectory, it looks like the momentum will further gather steam as at least 13 more SME IPOs are scheduled for the next 10 days.

As per data, there have been as many as 135 SME IPOs in 2023, out of which 85 issues have gained after listing, while 20 have tumbled.

Srivari Spices and Foods Limited, engaged in the business of manufacturing spices in and around Telangana and Andhra Pradesh, has been the hottest IPO with about a massive Rs 2,700 crore subscriptions or about 450 times.

Here's a list of other companies that have really caught the eye of investors.

Basilic Fly Studio: With a market cap of Rs 525 crore, Basilic delivers VFX solutions for a range of projects including movies, TV, OTT series, as well as commercials. In a span of two weeks, the company has gained nearly 225 percent since its listing on September 11.

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Meson Valves: Listed on September 21, the latest data suggests that the stock has gained 110 percent in the last couple of trading sessions. The company, with a market cap of Rs 227 crore, specialises in supplying valves, actuators, strainers, and remote-control valve systems to various industries, both domestically and internationally.

Kahan Packaging: Shares made their debut on the bourses on September 15. Since listing, the stock has gained nearly 86 percent. Kahan offers bulk packaging solutions to B2B producers in a variety of sectors, such as agro-pesticides, cement, chemicals, fertilizers, and food products.

Pramara Promotions: Involved in promotional marketing, the stock has gained 58 percent since its listing on September 13. With a market cap of Rs 85 crore, the company is India's largest supplier and manufacturer of promotional toys, promotional merchandise, corporate gifts and more.

How has SME index fared?

Since the start of the year, the NSE SME Emerge Index has gained 71 percent while the small-cap index has gained 28 percent over the same time frame.