SME IPO Fundraising Nearly Doubles To ₹3,791.67 Crore, Listings Jump 111% In July–September

New Delhi: India’s SME IPO market rebounded in July–September 2026, with fundraising almost doubling from the previous quarter to ₹3,791.67 crore, according to B2K Analytics.

The total compared with ₹1,890 crore raised during April–June. Renewed investor participation supported 80 SME IPO listings, signalling a recovery after activity moderated in the first two quarters of the calendar year.

SME IPO Listings Jump 111%

Listings increased 111 per cent quarter-on-quarter, with BSE SME accounting for 55 issues and NSE Emerge hosting 25.

Despite the sequential recovery, fundraising remained below the ₹4,531.27 crore recorded in July–September 2025. The comparison indicates that the rebound has yet to match the corresponding quarter’s peak.

Fresh Capital Drives Fundraising

Fresh issues contributed 94 per cent of total proceeds, highlighting the dominance of capital raised for companies rather than shareholder exits.

Fresh capital increased to ₹3,574.67 crore from ₹1,782.06 crore in the preceding quarter. Offer-for-sale proceeds roughly doubled, reaching ₹217 crore against ₹108 crore.

The quarter included several larger SME offerings, suggesting the platforms are attracting businesses with greater funding requirements, B2K Analytics CEO Ritaban Basu said.

Listing Gains Improve, Outcomes Remain Mixed

Of the 80 listings, 51 debuted at a premium, while 19 opened at a discount. Another 10 listed without gains or losses.

Basu linked listing performance to renewed investor appetite, potentially supported by expectations of tighter SEBI oversight.

However, the report also highlighted an increase in loss-making listings. Outcomes continued to differ according to issue pricing, business fundamentals and market demand, indicating selective participation rather than uniform enthusiasm across offerings.

Capital Goods Leads Broader Sector Sample

In the report’s broader sample of 158 companies, capital goods represented the largest category, comprising 40 businesses and approximately 25 per cent of the sample.

The five largest sectors accounted for nearly 58 per cent, while the top ten represented around 87 per cent.

These sector figures describe the sample and should be distinguished from the quarter’s 80 listings.