Three SME IPOs to open today: Vinod Texworld, Amtech Esters, Infrax Renewable; check GMP and other details

The Indian SME IPO market is set for a busy start today, with three public issues—Vinod Texworld IPO, Amtech Esters IPO and Infrax Renewable IPO—opening for subscription on September 9, 2026. Investors will have a three-day window to place their bids, with all three issues closing on September 11.

Among the three offerings, Vinod Texworld is attracting the strongest grey-market interest, while Amtech Esters is also commanding a premium. Infrax Renewable, meanwhile, is currently showing no grey market premium (GMP), pointing towards a potentially flat listing based on current unofficial market indications.

Combined, the three SME IPOs are looking to raise around Rs 101.59 crore from investors.

Vinod Texworld IPO: 16% GMP puts it in the spotlight

Of the three IPOs opening today, Vinod Texworld IPO has emerged as the grey-market favourite. The issue is priced at Rs 94 per share, while its current GMP stands at around Rs 15, implying a premium of approximately 16% over the issue price. Based on the prevailing GMP, the estimated listing price is around Rs 109 per share.

Vinod Texworld IPO is a fixed-price issue worth Rs 42.83 crore, comprising an entirely fresh issue of 45.56 lakh shares.

The IPO opens on September 9 and closes on September 11, 2026. The basis of allotment is expected to be finalized on September 15, while the shares are likely to debut on the NSE SME platform on September 17.

The lot size is 1,200 shares. Retail investors are required to bid for a minimum of two lots, or 2,400 shares, translating into a minimum investment of Rs 2,25,600 at the issue price of Rs 94.

Novus Capital Advisors Pvt. Ltd. is the book-running lead manager, while Kfin Technologies Ltd. is the registrar.

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Amtech Esters IPO: 9% premium in grey market

Amtech Esters IPO is the second issue opening today and is also seeing positive grey-market sentiment. Its GMP is currently around Rs 7 per share, or roughly 9% above the upper price band of Rs 75. If the current GMP holds, the estimated listing price could be around Rs 82 per share.

The IPO is a Rs 17.88-crore book-built issue, comprising an entirely fresh issue of 23.84 lakh shares. The price band has been fixed at Rs 71 to Rs 75 per share.

Subscription will remain open from September 9 to September 11, 2026. Allotment is expected on September 15, followed by a tentative BSE SME listing on September 17.

The IPO has a lot size of 1,600 shares. Retail investors need to apply for at least two lots, or 3,200 shares, requiring a minimum investment of Rs 2,40,000 at the upper price band.

Credora Partners Pvt. Ltd. is the book-running lead manager and Maashitla Securities Pvt. Ltd. is the registrar.

Infrax Renewable IPO: No GMP, flat listing indicated

The third IPO hitting the market today is Infrax Renewable IPO, which is seeking to raise Rs 40.88 crore. Unlike Vinod Texworld and Amtech Esters, Infrax Renewable is currently not commanding any grey market premium. A zero GMP generally indicates that the shares could list around the issue price, although GMP is an unofficial indicator and can change before listing.

Infrax Renewable IPO is priced at Rs 104 per share and comprises a combination of a fresh issue of 32.51 lakh shares worth Rs 33.81 crore and an offer for sale of 6.80 lakh shares worth Rs 7.08 crore.

The issue opens on September 9 and closes on September 11, 2026. The allotment is expected to be finalized on September 15, with a tentative BSE SME listing scheduled for September 17.

The lot size is 1,200 shares, with retail investors required to apply for a minimum of two lots, or 2,400 shares. At Rs 104 per share, the minimum investment works out to Rs 2,49,600.

Smart Horizon Capital Advisors Pvt. Ltd. is the book-running lead manager, while Bigshare Services Pvt. Ltd. is the registrar.

Read more: IPO flood breaks 30-year record as 6 issues hit stock market on same day

Grey market gives Vinod Texworld an early edge

With all three issues opening simultaneously, investors have several SME IPO options to consider. Vinod Texworld currently stands out on grey-market momentum, with a GMP of around 16%, followed by Amtech Esters at approximately 9%.

Infrax Renewable, on the other hand, has a zero GMP, suggesting no premium over its issue price in the unofficial market at present.

However, investors should remember that GMP is not an official or regulated indicator of IPO performance. Grey-market premiums can fluctuate sharply before listing and should not be the sole basis for an investment decision.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)