Check out the highest SME IPO subscription in 2025 in India. The list of most popular SME IPOs contains all public offers on SME platforms of NSE and BSE during the year.
SME IPOs with the highest subscriptions have certain common traits such as strong fundamentals, capable management, and the presence of external investors. IPOs exhibiting these characteristics usually attract more buyers and investors, in turn, driving activity in the grey market as well. Since the majority of the value discovery process takes place after listing in the case of SME IPOs, investors don’t mind shelling out premiums in promising cases. As such, the performance of most subscribed SME IPOs is usually linked with superior listing gains as well as positive subsequent performance.
Check out the top SME IPO subscription in 2025 in India. The report also provides you with a category-wise subscription status by retail investors (RIIs), non-institutional investors (NIIs), and qualified institutional bidders (QIBs).
If you want to check more reports, here are the links:
- All-time Biggest IPOs in India
- All-time Highest IPO Subscription
- Best IPOs by Sector in 2025
- Biggest IPOs by Size in 2025
- Best IPOs in 2025
- Highest IPO Subscription in 2025
- Highest SME IPO Subscription in 2025
- Statewise Mainboard IPOs
- Best SME IPOs by Sector
- Biggest IPOs by Applications
- Best IPOs That Doubled Investors’ Money
List of Highest SME IPO Subscription in 2025 in India
| IPO Name | QIB (X) | NII (X) | Retail (X) | Ovreall (X) | Listing Return % |
|---|---|---|---|---|---|
| Austere Systems | 236.50 | 2149.54 | 1090.93 | 1077.12 | 44.22 |
| SatKartar Shopping | 177.52 | 1126.79 | 264.92 | 952.71 | 99.44 |
| Fabtech Technologies Cleanrooms | 224.50 | 1485.86 | 715.05 | 740.45 | 99.49 |
| Chamunda Electrical | 155.85 | 1943.47 | 554.09 | 738.03 | 33.00 |
| TechD Cybersecurity | 284.17 | 1279.38 | 726.06 | 718.37 | 99.48 |
| Cryogenic OGS | 209.59 | 1155.73 | 773.80 | 695.02 | 99.49 |
| Parmeshwar Metal | 177.32 | 1203.16 | 597.09 | 607.14 | 45.44 |
| BLT Logistics | 81.80 | 1018.18 | 637.42 | 560.91 | 27.32 |
| Srigee DLM | 137.59 | 1535.01 | 243.71 | 491.31 | 99.49 |
| Anya Polytech and Fertilizers | 150.80 | 1100.80 | 321.81 | 440.03 | 28.21 |
| Technichem Organics | 101.49 | 1079.28 | 329.43 | 425.17 | 9.29 |
| Citichem India | 285.63 | 543.18 | 414.40 | -2.57 | |
| Current Infraprojects | 191.77 | 640.84 | 396.50 | 379.52 | 90.94 |
| Gallard Steel | 228.48 | 624.90 | 351.58 | 375.62 | 56.17 |
| Medistep Healthcare | 289.26 | 461.17 | 375.29 | 17.09 | |
| Kabra Jewels | 154.53 | 557.58 | 384.90 | 356.17 | 99.49 |
| Delta Autocorp | 178.64 | 624.79 | 314.33 | 342.20 | 28.65 |
| FlySBS Aviation | 191.93 | 564.03 | 286.18 | 318.82 | 99.49 |
| Sacheerome | 173.15 | 808.91 | 180.28 | 313.02 | 57.40 |
| Rikhav Securities | 170.92 | 616.78 | 251.36 | 307.08 | 99.48 |
Check out the top SME IPO subscription in 2023.
A downside of high subscription in SME IPOs is that the chances of successful allotment get difficult. The rules, created by market regulator SEBI, state a lottery-based allotment for IPOs where demand outstrips supply.