Two SME IPOs open for subscription today: Injecto Polymers, Century Business Media in focus

Investors looking to tap the SME primary market have two new opportunities opening for subscription today. Injecto Polymers IPO and Century Business Media IPO will open for bidding on September 11 and remain available for subscription until September 16, giving investors a three-day bidding window, excluding market holidays. Both issues will be listed on the BSE SME platform.

Injecto Polymers is launching a Rs 56.12 crore book-built issue, while Century Business Media is looking to raise Rs 17.11 crore. Both IPOs comprise entirely fresh issues of shares. However, investors should note that neither IPO is currently commanding a grey market premium (GMP), indicating no unofficial premium is being quoted in the grey market at present.

Injecto Polymers IPO

The Injecto Polymers IPO is a Rs 56.12 crore book-built issue consisting entirely of a fresh issue of 56.12 lakh shares. The IPO opens on September 11, 2026, and closes on September 16, with the share allotment expected to be finalized on September 17. The company is likely to make its debut on the BSE SME platform on September 21, 2026.


The IPO has fixed a price band of Rs 98 to Rs 100 per share, with a lot size of 1,200 shares. At the upper end of the price band, a retail investor applying for the minimum retail requirement of 2,400 shares would need to invest Rs 2.40 lakh. For HNI investors, the minimum application is three lots, or 3,600 shares, requiring an investment of Rs 3.60 lakh at the upper price band.

Indcap Advisors Pvt. Ltd. is the book-running lead manager for the issue, while Integrated Registry Management Services Pvt. Ltd. has been appointed as the registrar.

IPO Proceeds : The company plans to deploy a significant portion of the IPO proceeds towards strengthening its balance sheet and expanding manufacturing capacity. Around Rs 10 crore will be used for the repayment or pre-payment, either fully or partly, of certain outstanding borrowings. Another Rs 30.50 crore has been earmarked for capital expenditure related to the proposed Phase IV expansion at the company's existing manufacturing facility, Unit-I, located on NH2 Bypass Road, Jaugram, Abujhati, Jamalpur, West Bengal. The remaining funds will be deployed towards general corporate purposes. The total estimated utilisation of the issue proceeds stands at Rs 40.50 crore.

Century Business Media IPO

The second SME issue hitting the market today is the Century Business Media IPO, which aims to raise Rs 17.11 crore through a book-built issue. The issue is entirely a fresh issue of 23.12 lakh shares.

The IPO opens on September 11 and closes on September 16, 2026. The allotment is expected to be finalized on September 17, while the tentative listing date on the BSE SME platform is September 21.

Century Business Media has set the IPO price band at Rs 70 to Rs 74 per share, with a lot size of 1,600 shares. At the upper end of the price band, the minimum retail application requires 3,200 shares, translating into an investment of Rs 2.368 lakh. HNI investors need to apply for at least three lots, or 4,800 shares, involving an investment of Rs 3.552 lakh at the upper price band.

Hem Securities Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar to the issue.

IPO proceeds: Century Business Media plans to channel the IPO proceeds towards expanding its media and advertising assets. The company has proposed spending around Rs 4.21 crore on the purchase of media assets and another Rs 3.77 crore as a security deposit for advertising rights at Patna Airport. The company also plans to allocate Rs 3.25 crore towards meeting its working capital requirements. In addition, around Rs 1.45 crore will be used to repay certain borrowings, with the balance earmarked for general corporate purposes. The total estimated utilisation of the issue proceeds is Rs 12.68 crore.

Two SME IPOs, two different growth stories

With both issues opening on the same day, investors have two SME IPOs to evaluate, each with a different business focus and proposed use of funds. Injecto Polymers is targeting manufacturing expansion and debt reduction, while Century Business Media plans to strengthen its media assets, advertising business and working capital position.

For investors tracking SME IPOs, the subscription numbers, valuation, financial performance and eventual listing response will be key factors to watch. With no current GMP for either issue, the market's unofficial pricing signal remains neutral ahead of the opening day.

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