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SME IPOs could see tighter regulations from Sebi in the not-so-distant future - Issue Date: Apr 14, 2024

The S&P BSE SME IPO index dropped 2.3% to 56017.74. Shares of Resgen, Pace E-Commerce Ventures, Navoday Enterprises, Captain Technocast, Kahan Packaging, and AA Plus Tradelink were the big laggards, dropping 6-14%.

Here’s a hint: There is a lot of money chasing these stocks, but the excesses are creating a scenario where if something goes wrong investors could take a massive hit

The offer of Net Avenue Tech is a completely a fresh equity issue of up to 56.96 lakh equity shares. The company plans to raise Rs 10.25 crore through the IPO. The massive demand was led by retail investors, whose category was subscribed 721 times, while that of non-institutional investors was subscribed 616 times. The part reserved for institutional investors was subscribed 62 times. The issue closed on December 4.​

In the current calendar year, small and medium enterprises (SMEs) have witnessed an impressive surge in initial public offerings (IPOs), surpassing the 2018 record. Over 150 SME IPOs have been introduced to the market, breaking the previous record of 141 set in 2018. According to data from PRIME Database, a primary market tracking firm, 147 companies successfully concluded their debut share sales by the end of October, raising a cumulative Rs 3,727 crore.