SME IPO GMP today
Grey market premium for SME IPOs on NSE Emerge, and what the listing record shows about them. GMP is unofficial and not a forecast.
GMP is not published by any exchange or regulator, and SME issues are small and thinly traded. Not investment advice. Read the disclaimer.
SME IPOs open, upcoming or awaiting listing
| IPO | Status | Bidding | Upper price | Lot size | Subscription | Reported GMP |
|---|---|---|---|---|---|---|
| Vedant Poly Fabs | Awaiting listing | 2 Nov – 4 Nov | ₹94 | 1200 | 1.85x | Not reported |
What SME listings have looked like
NSE Emerge SME IPOs that listed from 8 Dec 2025 to 6 Nov 2026, 80 issues. Listing gain is the listing price against the issue price, from NSE.
The average is pulled up by a few very large gains, so the median is the better guide to a typical issue.
Listing gain by subscription
| Final subscription | Issues | Average listing gain | Listed below issue price |
|---|---|---|---|
| Under 5 times | 20 | +1.3% | 9 of 20 |
| 5 to 20 times | 3 | +5.2% | 0 of 3 |
| 20 to 100 times | 2 | +1.5% | 0 of 2 |
| 100 times or more | 11 | +64.8% | 0 of 11 |
Only 36 of the 80 issues have a final subscription figure in our data, and some groups hold only a few issues, so read the pattern, not the exact figures. It is a record of past listings and does not predict the next one.
Recent SME listings and last reported GMP
| IPO | Listed | Issue price | Subscription | Last GMP | Listing gain |
|---|---|---|---|---|---|
| HGS (India) | 6 Nov | ₹120 | 231x | Not recorded | +33.3% |
| Maxwell Engineering Solutions | 6 Nov | ₹158 | 491x | Not recorded | +90.0% |
| Ravita Engineering Services | 22 Oct | ₹112 | 6.68x | +₹1 | 0.0% |
| Vaibhav Vyapaar | 21 Oct | ₹54 | 3.08x | +₹3 | -2.0% |
| R.K. Fashion Accessories | 12 Oct | ₹82 | 2.61x | +₹1.5 | -2.4% |
| Eventions | 8 Oct | ₹118 | 2.32x | ₹0 | -5.9% |
| Papadmalji Agro Foods | 7 Oct | ₹72 | 2.46x | ₹0 | +0.4% |
| Green Asia Impex | 7 Oct | ₹89 | 0.98x | ₹0 | 0.0% |
| Bench Mark Infotech Services | 5 Oct | ₹110 | 95.97x | +₹15 | 0.0% |
| Himalayan Solar | 5 Oct | ₹103 | 1.18x | ₹0 | -17.5% |
| Coreintegra Consulting Services | 30 Sept | ₹78 | 1.38x | Not recorded | +0.1% |
| Pooja Logistics | 30 Sept | ₹115 | 2.96x | ₹0 | +2.6% |
| Axiom Gas Engineering | 25 Sept | ₹54 | 1.37x | ₹0 | +1.4% |
| Kheria Autocomp | 24 Sept | ₹101 | 2.37x | +₹3 | +3.9% |
| SpectraA Technology Solutions | 24 Sept | ₹118 | 283x | +₹81 | +90.0% |
| Vinod Texworld | 17 Sept | ₹94 | 1.57x | Not recorded | 0.0% |
| Qualiance International | 11 Sept | ₹127 | 427x | Not recorded | +77.1% |
| Ashutosh Fibre | 7 Sept | ₹92 | 124x | Not recorded | +52.2% |
| Shanti Inorganics | 7 Sept | ₹83 | 132x | Not recorded | +90.0% |
| Sumax Engineering | 2 Sept | ₹101 | 152x | Not recorded | +9.9% |
| ABH Healthcare | 1 Sept | ₹102 | 1.42x | Not recorded | -2.9% |
| Madhur Knit Crafts | 1 Sept | ₹100 | 1.47x | Not recorded | 0.0% |
| Fascinate Textiles | 24 Aug | ₹151 | 1.45x | Not recorded | -20.0% |
| Skytech Infinite Platform | 21 Aug | ₹77 | 1.99x | Not recorded | -3.9% |
| Credent Connect N Care | 20 Aug | ₹189 | 142x | Not recorded | +90.0% |
Last GMP is the final figure reported before listing by Investorgain’s SME performance tracker, shown only where we have recorded it. A GMP of ₹0 usually means no figure was quoted, not that the grey market expected no gain.
About SME IPO GMP
What is SME IPO GMP?
It is the unofficial grey market premium quoted for an IPO on an exchange’s SME platform, such as NSE Emerge. It works like mainboard GMP: a GMP of ₹10 on an issue price of ₹100 implies a listing price of about ₹110. No exchange or regulator publishes it.
Is SME GMP more reliable than mainboard GMP?
There is less to go on. SME issues are small, thinly traded and often have no reported GMP at all, which the sites show as ₹0. In the NSE Emerge listings tracked here, issues with a reported GMP of ₹0 have listed both well above and well below the issue price. Treat any number as a rumour.
Why do some SME IPOs list at exactly +90% or -20%?
SME listings can open within a price band set by the exchange. Many of the biggest moves on this page sit at the edge of that band, so the figure shows the band limit more than a market price.
Which exchanges do you cover?
NSE Emerge only. We do not yet cover BSE SME issues, so some SME IPOs people search for will not appear here.
Where do the figures come from?
Prices, subscription and listing gains are from NSE. Each GMP figure is entered by hand from a named published source with its date. If we have none, we say so.
Mainboard issues are on the IPO GMP page. See also IPO subscription status and the IPO dashboard.
Use this data
Download the figures on this page. If you use them, please credit India in Data and the original source.
Cite this
India in Data, "SME IPO GMP and listing gains on NSE Emerge", data as of 8 November 2026. https://indiaindata.online/sme-ipo-gmp. Original source: NSE Emerge issue and listing data; named published GMP sources.