Four SME IPOs open for subscription today: Check issue size, price band, lot size and key dates

Four SME initial public offerings (IPOs) — Vans Electroengineerings, Papadmalji Agro Foods, Black Opal Consultants and EverestIMS Technologies — are set to open for subscription today, September 29, 2026. Together, the four issues aim to raise around Rs 158 crore from investors.

Among the four, Black Opal Consultants is the largest issue at Rs 55.08 crore, followed by EverestIMS Technologies at Rs 48.46 crore, Vans Electroengineerings at Rs 33.98 crore and Papadmalji Agro Foods at Rs 20.18 crore.

Vans Electroengineerings IPO

Vans Electroengineerings IPO is a book-built issue worth Rs 33.98 crore, comprising an entirely fresh issue of 28.80 lakh shares. The IPO will open for subscription on September 29 and close on October 1, 2026. The allotment is expected to be finalised on October 5, while the shares are likely to list on the BSE SME platform on October 7.


The price band has been fixed at Rs 112–Rs 118 per share, with a lot size of 1,200 shares. Retail investors will need to apply for a minimum of two lots, or 2,400 shares, requiring an investment of Rs 2,83,200 at the upper price band. For HNIs, the minimum application is three lots, or 3,600 shares, amounting to Rs 4,24,800.

Hem Securities Ltd. is the book-running lead manager, while Bigshare Services Pvt. Ltd. is the registrar to the issue.

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Papadmalji Agro Foods IPO

Papadmalji Agro Foods IPO is a Rs 20.18-crore book-built issue comprising a fresh issue of 25.73 lakh shares worth Rs 18.52 crore and an offer for sale (OFS) of 2.30 lakh shares aggregating Rs 1.66 crore. The issue will remain open from September 29 to October 1, 2026. The allotment is expected to be completed on October 5, with the company's shares scheduled to list on the NSE SME platform on October 7.

The IPO has a price band of Rs 69–Rs 72 per share and a lot size of 1,600 shares. Retail investors need to bid for at least two lots, or 3,200 shares, translating into a minimum investment of Rs 2,30,400 at the upper price band. HNIs can apply for a minimum of three lots, or 4,800 shares, requiring Rs 3,45,600.

Kreo Capital Pvt. Ltd. is the book-running lead manager, while MAS Services Ltd. is the registrar.

Black Opal Consultants IPO

Black Opal Consultants IPO is the largest among the four issues, with a size of Rs 55.08 crore. The issue consists of a fresh issue of 22.38 lakh shares worth Rs 44.09 crore and an OFS of 5.58 lakh shares aggregating Rs 10.99 crore. The IPO opens on September 29 and closes on October 1, 2026. The allotment is expected to be finalised on October 5, and the shares are proposed to be listed on the BSE SME platform on October 7.

The price band has been fixed at Rs 185–Rs 197 per share, while the lot size is 600 shares. Retail investors need to apply for a minimum of two lots, or 1,200 shares, requiring Rs 2,36,400 at the upper price band. The minimum HNI application is three lots, or 1,800 shares, amounting to Rs 3,54,600.

Khambatta Securities Ltd. is the book-running lead manager and Skyline Financial Services Pvt. Ltd. is the registrar to the issue.

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EverestIMS Technologies IPO

EverestIMS Technologies IPO is a Rs 48.46-crore book-built issue comprising a fresh issue of 45.94 lakh shares aggregating Rs 39.05 crore and an OFS of 11.07 lakh shares worth Rs 9.41 crore. Unlike the other three IPOs, the EverestIMS Technologies issue will remain open for a longer period, from September 29 to October 5, 2026. 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 80–Rs 85 per share and a lot size of 1,600 shares. Retail investors will need to apply for at least two lots, or 3,200 shares, involving a minimum investment of Rs 2,72,000 at the upper price band. HNIs need to apply for a minimum of three lots, or 4,800 shares, amounting to Rs 4,08,000.

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

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