8 SME IPOs to open today, seek to raise Rs 440 crore; check price bands, lot sizes and key dates

Eight SME initial public offerings (IPOs) — TNA Solutions, Omara Ventures India, Sollfege Smart Electronics, Eventions, Acme India Industries, Paramount Syntex, SJP Ultrasonics and Dove Soft — are set to open for subscription today, September 30. Together, the eight issues will raise around Rs 440 crore from the primary market.

Of the eight IPOs, seven will list on the BSE SME platform, while Eventions will make its debut on the NSE SME platform. The IPOs have different closing dates, with some issues closing on October 5 and others remaining open until October 6.

TNA Solutions IPO

TNA Solutions IPO is a book-built issue of Rs 37.86 crore and comprises an entirely fresh issue of 54.08 lakh shares. The IPO will remain open for subscription from September 30 to October 6, with the basis of allotment expected to be finalised on October 7. The shares are scheduled to list on the BSE SME platform on October 9.


The price band has been fixed at Rs 66 to Rs 70 per share, while the lot size is 2,000 shares. At the upper price band, retail investors will need to invest Rs 2.80 lakh for 4,000 shares, or two lots. The minimum application size for HNI investors is three lots, or 6,000 shares, requiring an investment of Rs 4.20 lakh. Credora Partners Pvt Ltd is the book-running lead manager, while Maashitla Securities Pvt Ltd is the registrar to the issue.

Omara Ventures India IPO

Omara Ventures India IPO is a book-built issue of Rs 41.99 crore and consists entirely of a fresh issue of 13.50 lakh shares. The issue will open on September 30 and close on October 5. The allotment is expected to be finalised on October 6, with listing scheduled on the BSE SME platform on October 8.

The IPO has a price band of Rs 296 to Rs 311 per share and a lot size of 400 shares. Retail investors applying for two lots, or 800 shares, will require Rs 2.49 lakh at the upper price band. For HNI investors, the minimum application is three lots, or 1,200 shares, amounting to Rs 3.73 lakh. Wealth Mine Networks Ltd is the book-running lead manager, while Bigshare Services Pvt Ltd is the registrar to the issue.

Sollfege Smart Electronics IPO

Sollfege Smart Electronics IPO is a fixed-price issue of Rs 21.78 crore and comprises a fresh issue of 39.60 lakh shares. The IPO will open on September 30 and close on October 5. The allotment is expected to be finalised on October 6, followed by a tentative BSE SME listing on October 8.

The issue price has been fixed at Rs 55 per share, with a lot size of 2,000 shares. Retail investors will have to apply for at least two lots, or 4,000 shares, requiring Rs 2.20 lakh. HNI investors will need to apply for a minimum of three lots, or 6,000 shares, amounting to Rs 3.30 lakh. Finshore Management Services Ltd is the book-running lead manager and KFin Technologies Ltd is the registrar to the issue.

Eventions IPO

Eventions IPO is a book-built issue of Rs 38.12 crore and consists entirely of a fresh issue of 32.30 lakh shares. The IPO will be open from September 30 to October 5, with allotment expected on October 6. The company is scheduled to list on the NSE SME platform on October 8.

The price band has been fixed at Rs 112 to Rs 118 per share, while the lot size is 1,200 shares. Retail investors will need to apply for at least two lots, or 2,400 shares, requiring Rs 2.83 lakh at the upper price band. HNI investors will have a minimum application size of three lots, or 3,600 shares, amounting to Rs 4.25 lakh. Corporate Professionals Capital Pvt Ltd is the book-running lead manager, while Mudra RTA Ventures Private Limited is the registrar to the issue.

Acme India Industries IPO

Acme India Industries IPO is a book-built issue of Rs 121.69 crore, making it the largest among the eight SME issues opening today. The issue comprises a fresh issue of 54.07 lakh shares aggregating to Rs 105.98 crore and an offer for sale (OFS) of 8.02 lakh shares worth Rs 15.71 crore.

The IPO will open on September 30 and close on October 6. The allotment is expected to be finalised on October 7, while the shares are scheduled to list on the BSE SME platform on October 9.

The price band has been fixed at Rs 186 to Rs 196 per share and the lot size is 600 shares. Retail investors will need to apply for at least two lots, or 1,200 shares, requiring Rs 2.35 lakh at the upper price band. The minimum HNI application is three lots, or 1,800 shares, amounting to Rs 3.53 lakh. Hem Securities Ltd is the book-running lead manager, while Bigshare Services Pvt Ltd is the registrar to the issue.

Paramount Syntex IPO

Paramount Syntex IPO is a book-built issue of Rs 81.79 crore and comprises an entirely fresh issue of 64.40 lakh shares. The IPO will open on September 30 and remain available for subscription until October 6. The allotment is expected to be finalised on October 7, with a tentative BSE SME listing date of October 9.

The price band has been fixed at Rs 119 to Rs 127 per share, while the lot size is 1,000 shares. Retail investors will need to apply for at least two lots, or 2,000 shares, involving an investment of Rs 2.54 lakh at the upper price band. HNI investors will have to apply for a minimum of three lots, or 3,000 shares, amounting to Rs 3.81 lakh. Sobhagya Capital Options Pvt Ltd is the book-running lead manager and Bigshare Services Pvt Ltd is the registrar to the issue.

SJP Ultrasonics IPO

SJP Ultrasonics IPO is a fixed-price issue of Rs 23.45 crore and comprises a fresh issue of 35 lakh shares. The issue will open on September 30 and close on October 5. The allotment is expected to be finalised on October 6, with the company scheduled to list on the BSE SME platform on October 8.

The issue price has been fixed at Rs 67 per share and the lot size is 2,000 shares. Retail investors will need to apply for two lots, or 4,000 shares, requiring Rs 2.68 lakh. The minimum HNI application is three lots, or 6,000 shares, amounting to Rs 4.02 lakh.

Khandwala Securities Ltd is the book-running lead manager. The registrar details were not provided in the information available for the issue.

Dove Soft IPO

Dove Soft IPO is a book-built issue of Rs 73.26 crore. The issue comprises a fresh issue of 53.28 lakh shares aggregating to Rs 59.14 crore and an offer for sale of 12.72 lakh shares worth Rs 14.12 crore.

The IPO will open for subscription on September 30 and close on October 5. The allotment is expected to be finalised on October 6, while the shares are scheduled to list on the BSE SME platform on October 8.

The price band has been fixed at Rs 104 to Rs 111 per share, with a lot size of 1,200 shares. Retail investors will need to apply for at least two lots, or 2,400 shares, requiring Rs 2.66 lakh at the upper price band. The minimum HNI application is three lots, or 3,600 shares, amounting to Rs 3.996 lakh. Swastika Investmart Ltd is the book-running lead manager, while Purva Sharegistry (India) Pvt Ltd is the registrar to the issue.

With eight SME IPOs opening simultaneously, investors will have multiple primary-market issues to track over the coming days. The IPOs differ significantly in terms of issue size, pricing, lot size, issue structure and proposed listing platform.

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