Kheria Autocomp and SpectraA Technology Solutions SME IPOs open today: Check GMP and key details

Two NSE SME IPOs, Kheria Autocomp and SpectraA Technology Solutions, will open for subscription today, September 17, giving investors a three-day window to place their bids. The subscription period will remain open until September 21.

Kheria Autocomp is currently trading at a grey market premium (GMP) of Rs 10, implying a potential listing gain of around 9.90%, while SpectraA Technology Solutions is commanding a much stronger GMP of Rs 50, pointing to an indicative listing gain of around 42.37%.

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

Kheria Autocomp IPO

Kheria Autocomp IPO is a book-built issue worth Rs 46.44 crore and comprises an entirely fresh issue of 45.98 lakh shares. The IPO opened on September 17 and will close on September 21, with the allotment expected to be finalised on September 22. The shares are proposed to be listed on the NSE SME platform, with the tentative listing date set for September 24.

The price band for the Kheria Autocomp IPO has been fixed at Rs 96–Rs 101 per share, while the application lot size is 1,200 shares. Based on the upper price band, retail investors applying for the minimum two lots of 2,400 shares would need to invest Rs 2,42,400.

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

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

In the grey market, Kheria Autocomp's latest GMP stands at Rs 10, against the upper IPO price of Rs 101, this translates into an estimated listing price of Rs 111, implying a potential gain of approximately 10% over the issue price. However, grey market premiums are unofficial indicators and can change before listing.

SpectraA Technology Solutions IPO

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 issue opened on September 17 and will close on September 21, while the basis of allotment is expected to be finalised on September 22. The company is scheduled to make its debut on the NSE SME platform on September 24, subject to the applicable approvals and timelines.

SpectraA Technology Solutions has fixed its IPO price band at Rs 112–Rs 118 per share, with a lot size of 1,200 shares. Retail investors applying for the minimum two lots, or 2,400 shares, would need Rs 2,83,200 at the upper price band.

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

The company intends to deploy the net proceeds across several 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 intended for general corporate purposes.

SpectraA Technology Solutions is attracting significantly stronger grey market interest than Kheria Autocomp. Its latest GMP stands at Rs 50 as of September 17. At the upper issue price of Rs 118, the implied grey-market listing price works out to Rs 168, representing an indicative gain of 42%. As with Kheria Autocomp, the GMP is an unofficial market indicator and should not be treated as a guaranteed listing return.

With both IPOs opening on the same day and targeting the NSE SME platform, investors will be watching subscription trends, grey market movements and allotment demand closely over the next few days. While the grey market currently indicates a notable premium for both issues, actual listing prices can differ significantly depending on broader market conditions and investor demand.

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