6 IPOs open for subscription with GMPs up to 28%. Check all details

The SME primary market remains busy as six initial public offerings (IPOs) opened for subscription on June 30, offering investors exposure to businesses across engineering, logistics, electrical equipment, packaging and polymers.

The issues, which collectively aim to raise nearly Rs 193 crore, will remain open until July 2. Four companies are targeting a listing on the BSE SME platform, while two plan to debut on the NSE SME exchange.

The fresh offerings come amid mixed investor interest in the SME segment, although listing performance has remained muted in recent weeks, prompting investors to focus more closely on business fundamentals, valuations and subscription trends.


Among all the IPOs IC Electricals is commanding the highest GMP of 28% over the issue price, followed by Atharva Polyplast at 13%. The remaining issues have no premium in the grey market.

Also Read: NSE IPO to value exchange at Rs 5 lakh crore? 2 scenarios every investor should watch

IC Electricals eyes largest fundraise

Among the six offerings, IC Electricals Co. is the largest, looking to raise Rs 47.91 crore through a book-built issue.

The company has fixed a price band of Rs 94-99 per share, with the IPO scheduled to close on July 2. The shares are proposed to be listed on the NSE SME platform, while Nexgen Financial Solutions is the book-running lead manager.

Teja Engineering launches fixed-price issue

Teja Engineering Industries has opened a Rs 37.36 crore fixed-price IPO at Rs 220 per share.

The company plans to list on the NSE SME platform after the issue closes. Interactive Financial Services is managing the public issue.

Unlike the other offerings opening today, Teja Engineering's IPO follows the fixed-price route instead of book building.

Vinit Mobile seeks Rs 34 crore

Electronics and mobile-related player Vinit Mobile has launched a Rs 34.13 crore book-built issue with a price band of Rs 150-158 per share.

The company will list on the NSE SME platform. Comfort Securities is acting as the lead manager for the issue.

Atharva Polyplast, Sampark India Logistics target BSE SME

Packaging products manufacturer Atharva Polyplast has opened its Rs 27 crore IPO with a price band of Rs 55-60 per share.

Meanwhile, Sampark India Logistics is seeking to raise Rs 27.22 crore through its public issue, priced at Rs 80-84 per share.

Both companies have chosen the BSE SME platform for listing. Horizon Management is managing the Atharva Polyplast issue, while Finshore Management Services is the lead manager for Sampark India Logistics.

Seemax Resources opens Rs 20 crore issue

Seemax Resources has also entered the primary market with a Rs 19.74 crore book-built IPO.

The company has fixed a price band of Rs 134-141 per share, with the shares proposed to be listed on the BSE SME platform. Wealth Mine Networks is the book-running lead manager.

Investors to track subscription demand

With all six IPOs remaining open until July 2, investors will closely monitor subscription data across retail, non-institutional and qualified institutional investor categories over the next three days.

The SME primary market has remained active this year with a steady stream of new listings, although performance after listing has varied significantly across issues. While several companies have delivered strong listing gains and healthy post-listing returns, others have struggled amid volatile market conditions.

As a result, investors are increasingly focusing on company fundamentals, valuations, growth prospects and demand from institutional investors rather than relying solely on listing premium expectations. The subscription response over the coming days will offer further insight into investor appetite for SME offerings as the primary market heads into the second half of the year.