Kheria Autocomp, SpectraA Technology Solutions SME shares to list today: Check GMP, subscription and key details

Two SME IPOs — Kheria Autocomp and SpectraA Technology Solutions — are set to make their stock-market debut today, September 24, on the NSE SME platform. The two issues saw markedly different subscription responses during the bidding period, while their grey market premiums have also diverged sharply.

SpectraA Technology Solutions is commanding a much higher grey market premium, while Kheria Autocomp is currently trading at a relatively modest premium in the unofficial grey market. GMP figures are unofficial and unregulated and may change before listing, so they do not guarantee the actual listing price.

Both IPOs were open for subscription from September 17 to September 21, 2026. SpectraA Technology Solutions received a massive 212.98 times subscription, compared with 2.48 times for Kheria Autocomp.


Read more: NSE IPO Tracker: Catch all the highlights here

Kheria Autocomp IPO: 3% GMP over issue price

Kheria Autocomp IPO is a book-built issue of Rs 46.44 crore. The offering comprises a fresh issue of shares, with the company raising funds to support its expansion plans.

The IPO opened on September 17 and closed on September 21, with the basis of allotment finalised on September 22. The shares are scheduled to list on the NSE SME platform on September 24. The price band was fixed at Rs 96–Rs 101 per share, with a lot size of 1,200 shares.

The issue was subscribed 2.48 times overall, with the retail portion receiving stronger demand than the institutional segment.

Kheria Autocomp's latest grey market premium is around Rs 3 against the upper IPO price of Rs 101. This translates into an indicative grey-market price of about Rs 104 per share, or roughly 3% above the issue price.

However, GMP is only an unofficial market indicator and can fluctuate significantly before and after listing.

SMC Capitals Ltd. is the book-running lead manager, KFin Technologies Ltd. is the registrar, and SMC Global Securities Ltd. is the market maker.

The company plans to use the IPO proceeds primarily to part-fund capital expenditure for a new manufacturing facility for plastic-moulded auto components at GIDC Sanand Industrial Park. Around Rs 39.96 crore has been earmarked for the facility, while the remaining proceeds are intended for general corporate purposes.

Read more: 3 SME IPOs to open for subscription today: Check issue size, price band, lot size and key details

SpectraA Technology Solutions IPO: GMP at 65%

SpectraA Technology Solutions IPO is a Rs 42.52-crore book-built issue comprising a fresh issue of 32.56 lakh shares worth Rs 38.42 crore and an offer for sale of 3.48 lakh shares aggregating to Rs 4.11 crore.

The IPO opened on September 17 and closed on September 21, with allotment finalised on September 22. The shares are scheduled to debut on the NSE SME platform on September 24.

The company fixed the IPO price band at Rs 112–Rs 118 per share, with a lot size of 1,200 shares. At the upper price band, retail investors applying for the minimum two lots, or 2,400 shares, needed to invest Rs 2,83,200.

The issue received an exceptionally strong response, with the IPO subscribed 212.98 times overall.

SpectraA Technology Solutions GMP today

SpectraA Technology Solutions is seeing substantially stronger grey-market interest. The latest available GMP was around Rs 77, compared with the upper issue price of Rs 118. This implies an indicative grey-market price of about Rs 195 per share, although the GMP is unofficial and can change before listing. The GMP had reached Rs 73 on September 23, according to an IPO-tracking source.

Indcap Advisors Pvt. Ltd. is the book-running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar to the issue.

SpectraA Technology Solutions plans to deploy the IPO proceeds across multiple purposes, including capital expenditure at its Jaipur manufacturing facility, repayment of term loans, working capital requirements and general corporate purposes. The company has earmarked Rs 11 crore for capital expenditure, Rs 6.48 crore for repayment of term loans and Rs 9.50 crore for working capital requirements, with the balance proposed to be used for general corporate purposes.

Kheria Autocomp vs SpectraA Technology Solutions: What the GMP shows

The two SME IPOs are entering the market with a stark contrast in grey-market sentiment. Kheria Autocomp's GMP of Rs 3 points to a relatively small premium over its Rs 101 issue price, while SpectraA Technology Solutions' GMP of around Rs 73 represents a substantially higher premium over its Rs 118 upper price band.

However, GMP should not be treated as a prediction of the actual listing price. The final listing price will be determined by market trading once the shares begin trading on the NSE SME platform.

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