Paluck Technologies, Complete Sports and Management SME shares to list today: GMP signals diverging sentiment

SME IPOs Paluck Technologies and Complete Sports and Management India are set to debut today on the BSE SME platform. Interestingly, the two issues show a sharp divergence in grey market sentiment ahead of their listings.

Paluck Technologies IPO currently commands a grey market premium (GMP) of around 19%, suggesting grey market participants expect a strong listing. In contrast, the Complete Sports and Management IPO has no reported GMP, pointing to muted expectations and the possibility of a flat listing.

Paluck Technologies raised Rs 33 crore through its IPO, while Complete Sports and Management raised a significantly higher Rs 74.93 crore.

Paluck Technologies IPO

The Rs 33 crore Paluck Technologies IPO comprised entirely of a fresh issue of 68.76 lakh shares. The public issue opened for subscription on August 28, 2026, and closed on September 1, 2026. The price band was fixed at Rs 46 to Rs 48 per share.

The issue received an overwhelming response from investors and was subscribed 271.68 times overall. The individual investor category was subscribed 372.67 times, while the QIB and NII portions received subscriptions of 83.89 times and 286.74 times, respectively.

Horizon Management Pvt. Ltd. acted as the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. was appointed as the registrar.

Paluck Technologies SME IPO is currently commanding a GMP of Rs 9, representing a premium of around 19% over its upper price band of Rs 48. Based on the current grey market premium, the issue is estimated to list at around Rs 57 per share.

The company plans to utilise the IPO proceeds primarily to strengthen its operations and financial position. It has earmarked Rs 10 crore for the purchase of new RMC machinery and DG sets, Rs 3.10 crore for the repayment or prepayment of borrowings, and Rs 10 crore to meet its working capital requirements. The remaining funds will be used for general corporate purposes. In total, Rs 23.10 crore has been allocated towards these specific objectives.

Established in April 2010, Paluck Technologies is a diversified engineering and infrastructure support company with operations spanning automobile and engineering services, construction equipment rentals, logistics, fleet management and telecom engineering.

The company traces its origins to a diesel generator service proprietorship started in 2009 and has since expanded into several infrastructure-related businesses. It currently operates a fleet of more than 190 specialised vehicles across key regions in India, providing services such as concrete transportation, equipment rentals, RMC plant setup and logistics. The company also provides telecom engineering, operations and maintenance services across more than 7,500 sites. In addition, it operates authorised service centres and dealerships for various original equipment manufacturers (OEMs). As of February 28, 2026, the company had 192 employees.

Complete Sports and Management IPO

Complete Sports and Management India is the second SME IPO scheduled to make its stock market debut today. The company raised Rs 74.93 crore through a book-built issue comprising entirely of a fresh issue of 56 lakh shares.

The Complete Sports & Management IPO was subscribed 3.45 times overall. The portion reserved for individual investors received 1.57 times subscription, while the QIB category, excluding anchor investors, was subscribed 7.34 times. The NII portion received 2.66 times subscription.

The IPO opened for subscription on August 28 and closed on September 1, 2026. The price band was fixed at Rs 128 to Rs 135 per share, with a lot size of 1,000 shares.

Smart Horizon Capital Advisors Pvt. Ltd. acted as the book-running lead manager, while Bigshare Services Pvt. Ltd. served as the registrar to the issue. The company had also raised Rs 21.32 crore from anchor investors, with anchor bidding taking place on August 27, 2026.

Complete Sports and Management plans to use a significant portion of the IPO proceeds towards capital expenditure. Of the estimated Rs 59.47 crore allocated for specific purposes, Rs 39.88 crore will be used to purchase gaming and other equipment for its Bhiwandi warehouse. Another Rs 8.09 crore will be utilised to establish the ‘Duckpin – The Bowling Bistro’ in Mumbai, while Rs 11.50 crore will be used to repay or prepay outstanding borrowings. The remaining funds will be deployed towards general corporate purposes.

Founded in 2002, Complete Sports and Management India is engaged in sourcing, trading and distributing amusement and leisure equipment. The company also provides installation, maintenance, commissioning and consulting services, offering end-to-end solutions across the entertainment and leisure infrastructure value chain.

With Paluck Technologies showing a strong GMP of around 19% and Complete Sports and Management having no reported grey market premium, the two SME IPOs are entering the market debut with notably different investor expectations.

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