3 March 2025
IPO
6 Minutes Read

SME IPO Performance in India – 2024

The Indian SME IPO market in 2024 saw a phenomenal 247 listings, with 223 delivering positive listing day gains and 173 still trading above their issue prices. That’s a crazy 90% win rate (almost same as 2023).  2024 can be recorded as the year of IPO’s with 40% more IPO’s being listed (243) compared to 2023 where 179 IPO’s got listed. That’s an average of about 20 IPO’s every month or 1 IPO per working day.

The top performers included Winsol Engineers Limited and Kay Cee Energy & Infra Limited, which recorded over 411% and 343% returns respectively on listing day. Overall, the market showed robust investor enthusiasm and strong post-listing performance. Below is a detailed summary of IPO performances on the SME front in India during 2024. 

1. Total SME IPOs: 247

2. Positive Listing Day Gains: 223

3. Negative Listing Day Gains: 24

4. Still trading above issue price (as on 9th Jan 2025):

🔸 Positive Closing Prices: 173

🔸 Negative Closing Prices: 74

SME IPO - 2024
SME IPO - 2024

Fund Raise via SME Platforms: The total funds raised via the SME IPOs crossed a significant milestone, exceeding Rs 9,000 crore in FY 2024. The largest SME IPO was by Danish Power Limited (Rs 197.90 crores), followed by KP Green Engineering Limited (Rs 189.50 crores).

Company NameListed OnIssue Price ₹Listing Day CloseListing Day GainCurrent Profit/Loss
TAC Infosec LimitedFri, Apr 5, 2024106304.5187%1220%
Owais Metal and Mineral Processing LimitedMon, Mar 4, 202487262.5202%1123%
Afcom Holdings LimitedFri, Aug 9, 2024108215.4599%848%
Australian Premium Solar (India) LimitedThu, Jan 18, 202454147172%838%
Alpex Solar LimitedThu, Feb 15, 2024115345.45200%592%
Kay Cee Energy & Infra LimitedFri, Jan 5, 202454239.4343%590%
Ztech India LimitedWed, Jun 5, 2024110105-5%506%
Slone Infosystems LimitedFri, May 10, 202479112.643%476%
Teerth Gopicon LimitedTue, Apr 16, 2024111131.2518%429%
Toss The Coin LimitedTue, Dec 17, 2024182363.0599%385%
Esconet Technologies LimitedFri, Feb 23, 202484275.5228%379%
Sodhani Academy of Fintech Enablers LimitedMon, Sep 23, 20244055.6539%351%
Royal Sense LimitedTue, Mar 19, 202468122.7481%337%
C2C Advanced Systems LimitedTue, Dec 3, 2024226450.8599%315%
Winsol Engineers LimitedTue, May 14, 202475383.25411%288%
GSM Foils LimitedFri, May 31, 20243233.65%267%
Shubhshree Biofuels Energy LimitedMon, Sep 16, 2024119198.4567%266%
Aimtron Electronics LimitedThu, Jun 6, 2024161253.0557%263%
Atmastco LimitedFri, Feb 23, 20247795.5524%261%
V R Infraspace LimitedTue, Mar 12, 20248587.43%260%
Shree Karni Fabcom LimitedThu, Mar 14, 202422727320%258%
Rajesh Power Services LimitedMon, Dec 2, 2024335668.399%244%
KP Green Engineering LimitedFri, Mar 22, 202414421046%239%
Aelea Commodities LimitedMon, Jul 22, 202495173.2582%234%
AVP Infracon LimitedWed, Mar 20, 20247575.050%232%
Megatherm Induction LimitedMon, Feb 5, 2024108207.993%227%
Sathlokhar Synergys E&C Global LimitedTue, Aug 6, 202414024776%224%
Divine Power Energy LimitedTue, Jul 2, 202440152.3281%221%
Qualitek Labs LimitedMon, Jan 29, 2024100199.5100%210%
Vilas Transcore LimitedMon, Jun 3, 2024147225.7554%207%
Vruddhi Engineering Works LimitedWed, Apr 3, 20247074.557%198%
Manoj Ceramic LimitedWed, Jan 3, 20246277.926%198%
Sahaj Solar LimitedFri, Jul 19, 2024180359.1100%192%
HOAC Foods India LimitedFri, May 24, 202448139.65191%192%
Pratham EPC Projects LimitedMon, Mar 18, 202475118.9559%189%
Nisus Finance Services Co LimitedWed, Dec 11, 2024180236.2531%189%
Danish Power LimitedTue, Oct 29, 2024380598.558%185%
Akanksha Power and Infrastructure LimitedWed, Jan 3, 20245565.118%182%
Effwa Infra & Research LimitedFri, Jul 12, 202482163.5599%177%
Maxposure LimitedTue, Jan 23, 202433137.75317%174%
GP Eco Solutions India LimitedMon, Jun 24, 202494393.75319%169%
Ganesh Green Bharat LimitedFri, Jul 12, 2024190398109%168%
HRH Next Services LimitedWed, Jan 3, 20243643.0520%162%
Refractory Shapes LimitedTue, May 14, 20243178.75154%160%
RNFI Services LimitedMon, Jul 29, 2024105189.5581%159%
Enfuse Solutions LimitedFri, Mar 22, 202496115.4520%158%
Rajputana Biodiesel LimitedTue, Dec 3, 2024130259.35100%155%
Utssav Cz Gold Jewels LimitedWed, Aug 7, 2024110115.555%154%
OBSC Perfection LimitedTue, Oct 29, 2024100115.516%149%
Enser Communications LimitedFri, Mar 22, 20247070.10%148%
Prizor Viztech LimitedMon, Jul 22, 202487173.5599%148%
Purv Flexipack LimitedTue, Mar 5, 202471247248%147%
Namo eWaste Management LimitedWed, Sep 11, 202485169.5599%147%
TechEra Engineering LImitedThu, Oct 3, 202482131.2560%140%
NACDAC Infrastructure LimitedTue, Dec 24, 20243569.8299%139%
Pelatro LimitedTue, Sep 24, 2024200288.7544%139%
Travels & Rentals LimitedThu, Sep 5, 20244057.7544%138%
Macobs Technologies LimitedWed, Jul 24, 202475100.834%137%
Creative Graphics Solutions India LimitedTue, Apr 9, 202485176.25107%136%
VVIP Infratech LimitedTue, Jul 30, 202493185.5399%135%
Addictive Learning Technology LimitedTue, Jan 30, 2024140294.5110%132%
Energy-Mission Machineries (India) LimitedThu, May 16, 2024138384.25178%130%
Jay Bee Laminations LimitedTue, Sep 3, 2024146291.2599%126%
Winny Immigration and Education Services LtdThu, Jun 27, 202414025280%126%
Shivalic Power Control LimitedMon, Jul 1, 2024100326.55227%124%
Chatha Foods LimitedWed, Mar 27, 20245672.8230%123%
Neelam Linens and Garments (India) LtdMon, Nov 18, 20242438.0559%123%
Pune E-Stock Broking LimitedFri, Mar 15, 202483133.1860%122%
Mason Infratech LimitedMon, Jul 1, 20246492.444%120%
Mayank Cattle Food LimitedMon, Feb 5, 2024108119.9511%117%
Rajputana Industries LimitedTue, Aug 6, 20243875.899%115%
Apex Ecotech LimitedWed, Dec 4, 202473145.699%108%
HVAX Technologies LimitedMon, Oct 7, 2024458490.357%106%
Trom Industries LimitedThu, Aug 1, 2024115229.499%103%
Aprameya Engineering LimitedThu, Aug 1, 20245875.630%100%
S A Tech Software India LimitedFri, Aug 2, 202459117.799%100%
Envirotech Systems LimitedTue, Sep 24, 202456111.799%100%
Greenhitech Ventures LimitedMon, Apr 22, 20245099.75100%100%
Rudra Gas Enterprise LimitedThu, Feb 15, 202463125.6899%97%
Sahasra Electronics Solutions LimitedFri, Oct 4, 2024283564.5599%96%
Premier Roadlines LimitedFri, May 17, 20246791.3536%96%
TBI Corn LimitedFri, Jun 7, 202494207.9121%95%
Osel Devices LimitedTue, Sep 24, 2024160207.9530%95%
Nephro Care India LimitedFri, Jul 5, 202490179.55100%95%
Storage Technologies and Automation LtdWed, May 8, 202478153.0596%93%
Shiv Texchem LimitedTue, Oct 15, 2024166250.9551%85%
Yash Highvoltage LimitedThu, Dec 19, 2024146285.6396%84%
Blue Pebble LimitedWed, Apr 3, 2024168208.9524%83%
Thaai Casting LtdFri, Feb 23, 202477195.15153%79%
GEM Enviro Management LimitedWed, Jun 26, 202475149.6299%79%
Ganesh Infraworld LimitedFri, Dec 6, 202483165.5599%76%
Indian Emulsifier LimitedWed, May 22, 2024132451.5242%72%
Avi Ansh Textile LimitedFri, Sep 27, 20246271.1515%70%
Picture Post Studios LimitedFri, Aug 9, 20242431.531%69%
Gabriel Pet Straps LimitedWed, Feb 7, 2024101120.7520%68%
Konstelec Engineers LimitedTue, Jan 30, 202470220.5215%67%
Beacon Trusteeship LimitedTue, Jun 4, 20246094.558%66%
Ramdevbaba Solvent LimitedTue, Apr 23, 202485117.638%66%
Fonebox Retail LimitedFri, Feb 2, 202470210200%65%
Innomet Advanced Materials LimitedWed, Sep 18, 2024100199.5100%65%
Diensten Tech LimitedWed, Jul 3, 2024100252152%63%
Lakshya Powertech LimitedWed, Oct 23, 2024180359.1100%62%
Emerald Tyre Manufacturers LimitedThu, Dec 12, 202495189.599%60%
Freshara Agro Exports LimitedThu, Oct 24, 2024116134.716%58%
Signoria Creation LimitedTue, Mar 19, 202465137.55112%56%
Esprit Stones LimitedFri, Aug 2, 20248797.812%55%
United Heat Transfer LimitedTue, Oct 29, 20245963.958%54%
Rappid Valves (India) LimitedMon, Sep 30, 2024222309.3539%54%
Sylvan Plyboard (India) LtdMon, Jul 1, 20245569.326%53%
Medicamen Organics LimitedFri, Jun 28, 202434144.7326%53%
Naman In-Store (India) LimitedTue, Apr 2, 202489118.7533%52%
Harshdeep Hortico LimitedMon, Feb 5, 20244566.548%52%
Silkflex Polymers (India) LimitedWed, May 15, 20245258.713%50%
Shri Balaji Valve Components LimitedWed, Jan 3, 2024100199.5100%49%
Vdeal System LimitedTue, Sep 3, 2024112178.559%48%
Sati Poly Plast LimitedMon, Jul 22, 2024130259.35100%47%
Omfurn India LimitedThu, Mar 28, 20247576.62%46%
Sadhav Shipping LimitedFri, Mar 1, 202495141.7549%46%
Kataria Industries LimitedWed, Jul 24, 202496191.599%46%
Sunlite Recycling Industries LimitedTue, Aug 20, 2024105209.4599%43%
Associated Coaters LimitedThu, Jun 6, 2024121134.911%41%
Interiors and More LimitedFri, Feb 23, 2024227283.525%39%
Quest Laboratories LimitedThu, May 23, 202497147.3552%39%
Trust Fintech LimitedThu, Apr 4, 2024101150.449%38%
Radiowalla Network LimitedFri, Apr 5, 202476126.1566%37%
Aztec Fluids & Machinery LimitedFri, May 17, 20246785.528%36%
Aeron Composite LimitedWed, Sep 4, 2024125157.526%36%
Aluwind Architectural LimitedTue, Apr 9, 20244547.255%36%
Onyx Biotec LimitedFri, Nov 22, 20246156.75-7%35%
Identical Brains Studios LimitedThu, Dec 26, 20245499.7585%35%
Hamps Bio LimitedFri, Dec 20, 202451101.7499%35%
Purple United Sales LimitedWed, Dec 18, 2024126208.9566%35%
Positron Energy LimitedTue, Aug 20, 2024250498.75100%34%
V.L.Infraprojects LimitedTue, Jul 30, 20244283.7599%31%
Share Samadhan LimitedMon, Sep 16, 20247474.871%27%
Zenith Drugs LimitedTue, Feb 27, 202479105.1533%27%
Dhanlaxmi Crop Science LtdMon, Dec 16, 202455109.799%27%
Brace Port Logistics LimitedMon, Aug 26, 202480167.55109%25%
Forcas Studio LimitedMon, Aug 26, 202480144.481%25%
Kaushalya Logistics LimitedMon, Jan 8, 20247510540%25%
SD Retail LimitedFri, Sep 27, 2024131150.915%24%
Chetana Education LimitedWed, Jul 31, 202485103.822%23%
Emmforce Autotech LimitedTue, Apr 30, 202498195.51100%23%
Pranik Logistics LimitedThu, Oct 17, 20247782.958%20%
Nexxus Petro Industries LimitedFri, Oct 4, 2024105132.326%19%
K2 Infragen LimitedMon, Apr 8, 2024119173.2546%19%
Dhariwalcorp LimitedThu, Aug 8, 2024106142.534%18%
Sattrix Information Security LimitedWed, Jun 12, 2024121157.530%18%
Vision Infra Equipment Solutions LimitedFri, Sep 13, 2024163215.2532%17%
Aesthetik Engineers LimitedFri, Aug 16, 202458115.799%17%
ABS Marine Services LimitedTue, May 21, 2024147279.390%16%
Jungle Camps India LimitedTue, Dec 17, 202472129.9681%16%
Kizi Apparels LimitedTue, Aug 6, 20242124.316%15%
SAR Televenture LimitedMon, Jul 29, 2024210232.611%15%
Shree Marutinandan Tubes LimitedFri, Jan 19, 202414321047%15%
AIK Pipes And Polymers LimitedTue, Jan 2, 20248910518%14%
Shivam Chemicals LimitedTue, Apr 30, 20244447.48%13%
Mach Conferences and Events LimitedWed, Sep 11, 2024225295.5531%13%
TGIF Agribusiness LimitedWed, May 15, 202493142.553%12%
DelaPlex LimitedFri, Feb 2, 2024192324.4569%12%
Thinking Hats Entertainment Solutions LimitedThu, Oct 3, 2024445730%11%
Agarwal Toughened Glass India LimitedThu, Dec 5, 2024108141.7531%11%
Paramount Speciality Forgings LimitedWed, Sep 25, 20245987.1548%11%
Rulka Electricals LimitedFri, May 24, 2024235498.75112%10%
Docmode Health Technologies LimitedFri, Feb 2, 202479180.75129%10%
Wise Travel India LimitedMon, Feb 19, 2024147204.7539%9%
Ideal Technoplast Industries LimitedWed, Aug 28, 2024121138.715%7%
Yash Optics & Lens LimitedMon, Apr 8, 20248192.714%7%
Amkay Products LimitedWed, May 8, 202455109.7299%5%
Petro Carbon and Chemicals LimitedTue, Jul 2, 202417131584%5%
Divyadhan Recycling Industries LimitedFri, Oct 4, 20246488.238%5%
DCG Cables & Wires LimitedTue, Apr 16, 202410091.55-8%3%
IBL Finance LimitedTue, Jan 16, 20245158.815%2%
Mangal Compusolution LimitedThu, Nov 21, 20244542.75-5%-3%
Veritaas Advertising LimitedTue, May 21, 2024114261.25129%-4%
GConnect Logitech and Supply Chain LimitedWed, Apr 3, 20244044.110%-4%
NeoPolitan Pizza and Foods LimitedWed, Oct 9, 20242020.211%-5%
New Swan Multitech LimitedThu, Jan 18, 202466131.67100%-5%
WOL 3D India LimitedMon, Sep 30, 2024150189.0526%-5%
Bulkcorp International LimitedTue, Aug 6, 2024105136.530%-6%
Premium Plast LimitedMon, Oct 28, 20244948.90%-6%
Akiko Global Services LimitedTue, Jul 2, 20247793.3521%-6%
Dindigul Farm Product LimitedThu, Jun 27, 202454107.73100%-7%
Unilex Colours and Chemicals LimitedThu, Oct 3, 20248788.151%-7%
Brisk Technovision LimitedWed, Jan 31, 2024156183.7518%-7%
Ambey Laboratories LimitedThu, Jul 11, 20246889.2531%-7%
Paramatrix Technologies LimitedWed, Sep 4, 2024110120.810%-7%
Popular Foundations LimitedTue, Sep 24, 20243737.070%-8%
Visaman Global Sales LimitedMon, Jul 1, 20244347.3510%-9%
Jeyyam Global Foods LimitedMon, Sep 9, 20246164.055%-10%
Broach Lifecare Hospital LimitedWed, Aug 21, 20242549.8799%-11%
Three M Paper Boards LimitedMon, Jul 22, 20246979.816%-12%
Naturewings Holidays LimitedTue, Sep 10, 20247490.2522%-12%
Vishwas Agri Seeds LimitedMon, Apr 1, 20248683.6-3%-12%
Jay Kailash Namkeen LimitedMon, Apr 8, 20247380.7511%-12%
Subam Papers LimitedTue, Oct 8, 2024152152.150%-13%
Faalcon Concepts LimitedFri, Apr 26, 20246290.2546%-13%
Sona Machinery LimitedWed, Mar 13, 2024143131.25-8%-14%
Durlax Top Surface LimitedWed, Jun 26, 202468103.5552%-19%
Sai Swami Metals & Alloys LimitedWed, May 8, 202460119.7100%-20%
Forge Auto International LimitedFri, Oct 4, 2024108109.351%-21%
Aspire & Innovative Advertising LimitedWed, Apr 3, 20245459.310%-23%
Aditya Ultra Steel LimitedMon, Sep 16, 20246266.47%-23%
Indian Phosphate LimitedTue, Sep 3, 202499178.781%-24%
Boss Packaging Solutions LimitedFri, Sep 6, 20246686.631%-24%
Tunwal E-Motors LimitedTue, Jul 23, 20245960.83%-26%
Manglam Infra and Engineering LimitedWed, Jul 31, 202456111.799%-26%
Clinitech Laboratory LimitedThu, Aug 1, 202496120.7526%-27%
Koura Fine Diamond Jewelry LimitedThu, Mar 14, 20245578.6343%-27%
Saj Hotels LimitedMon, Oct 7, 20246552.45-19%-28%
My Mudra Fincorp LimitedThu, Sep 12, 2024110123.512%-28%
Grill Splendour Services LimitedTue, Apr 23, 2024120127.356%-29%
Paramount Dye Tec LimitedTue, Oct 8, 2024117101.7-13%-29%
Supreme Facility Management LimitedWed, Dec 18, 20247671.25-6%-30%
Piotex Industries LimitedFri, May 17, 202494114.322%-30%
Rapid Multimodal Logistics LimitedFri, Aug 30, 202484108.129%-30%
Magenta Lifecare LimitedWed, Jun 12, 20243547.2535%-31%
Usha Financial Services LimitedThu, Oct 31, 2024168155.85-7%-31%
Khyati Global Ventures LimitedFri, Oct 11, 20249999.751%-32%
Deem Roll Tech LimitedTue, Feb 27, 2024129209.763%-33%
Newmalayalam Steel LimitedFri, Dec 27, 20249085.5-5%-34%
Kalana Ispat LimitedThu, Sep 26, 20246647.4-28%-34%
Ashapura Logistics LimitedTue, Aug 6, 2024144175.7522%-34%
Italian Edibles LimitedMon, Feb 12, 20246857.75-15%-37%
Excellent Wires and Packaging LimitedThu, Sep 19, 20249077.95-13%-37%
Varyaa Creations LimitedTue, Apr 30, 2024150270.7581%-38%
Euphoria Infotech India LimitedTue, Jan 30, 2024100181.5182%-40%
United Cotfab LimitedMon, Jun 24, 20247078.7513%-40%
Abha Power and Steel LimitedWed, Dec 4, 20247577.84%-42%
Deccan Transcon Leasing LimitedTue, Sep 24, 2024108110.252%-43%
Kalahridhaan Trendz LimitedFri, Feb 23, 20244549.510%-43%
SPP Polymer LimitedTue, Sep 17, 20245959.851%-43%
3C IT Solutions & Telecoms (India) LimitedWed, Jun 12, 20245245.16-13%-44%
Resourceful Automobile LimitedThu, Aug 29, 2024117122.855%-46%
Gajanand International LimitedMon, Sep 16, 20243639.911%-50%
Sameera Agro And Infra LimitedMon, Jan 1, 2024180171-5%-50%
Falcon Technoprojects India LimitedWed, Jun 26, 20249288.2-4%-51%
Solve Plastic Products LimitedWed, Aug 21, 202491107.118%-51%
Polysil Irrigation Systems LimitedFri, Feb 16, 20245454.250%-52%
Mandeep Auto Industries LimitedTue, May 21, 20246765.35-2%-53%
QVC Exports LimitedWed, Aug 28, 202486152.9578%-53%
BikeWo GreenTech LimitedFri, Sep 27, 20246247.25-24%-54%
Phoenix Overseas LimitedFri, Sep 27, 20246460.8-5%-56%
Lamosaic India LimitedFri, Nov 29, 2024200172.2-14%-57%
Finelistings Technologies LimitedTue, May 14, 2024123133.358%-60%
Baweja Studios LimitedTue, Feb 6, 2024180173.85-3%-63%
M.V.K. Agro Food Product LtdThu, Mar 7, 202412082.95-31%-67%

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