Upcoming SME IPO 2026 Complete List: Dates, GMP, Lot Size & Analysis

The SME IPO segment in 2026 has been one of the most active in recent years. Every week, new issues are opening on BSE SME and NSE Emerge, covering sectors from ceramics and hardware to packaging and engineering.

IPO Cracker tracks the upcoming SME IPO 2026 complete list with verified data from official RHP filings, BSE, NSE, and live grey market sources as of June 14, 2026. Every number here — lot size, issue size, GMP, financials — is pulled from primary sources, not estimates.

IPO Cracker monitors live GMP, subscription status, and allotment results for every SME issue on this list, updated daily.

What Is an SME IPO? — Key Terms for the Upcoming SME IPO 2026 Complete List

SME stands for Small and Medium Enterprise. A company in this category raises public funds by listing on BSE SME or NSE Emerge — separate platforms from the main BSE and NSE boards.

SEBI rules require that post-issue paid-up capital stays between ₹1 crore and ₹25 crore for SME listings. Minimum application lot sizes are set higher than Mainboard IPOs — typically ₹1 lakh to ₹3 lakh per application — because SME stocks carry higher post-listing risk and lower liquidity.

SME IPOs can deliver strong listing gains, but price swings after listing are wider and trading volumes are thinner. Investors need to understand this before applying.

Upcoming SME IPO 2026 Complete List — June 2026

Below is the upcoming SME IPO 2026 complete list for June 2026. All data is sourced from BSE, NSE filings, and RHP documents.

Company	Exchange	Price Band	Issue Size	Open	Close	Listing	GMP
Clay Craft India	NSE SME	₹193–₹203	₹110.11 cr	Jun 17	Jun 19	Jun 24	₹60 (+29.6%)
Diksha Polymers	BSE SME	₹112 (Fixed)	₹17.90 cr	Jun 17	Jun 19	Jun 24	₹0
Liotech Industries	BSE SME	₹321 (Fixed)	₹36.02 cr	Jun 17	Jun 19	Jun 24	₹0
Leapfrog Engineering	NSE SME	₹21–₹23	TBA	Jun 17	Jun 19	Jun 24	₹0
Horizon Reclaim	BSE SME	₹98–₹103	₹54.27 cr	Jun 12	Jun 16	Jun 19	₹53 (+51.5%)
Susan Electricals	NSE SME	₹120–₹127	TBA	Jun 11	Jun 15	Jun 18	₹65 (+51.2%)

GMP figures are from the unofficial grey market. They change daily and do not guarantee the actual listing price. Track live updates on IPO Cracker.

Clay Craft India SME IPO

Clay Craft India has been manufacturing bone china crockery and ceramic tableware since its incorporation in July 1994. Its products — plates, cups, tea sets, mugs, and customised pieces — serve retail customers, hotels, restaurants, and institutional clients (HoReCa segment).

As of March 2026, the company had 5,770 SKUs and 1,392 employees. This is a 100% fresh issue of ₹110.11 crore — no promoter exit via OFS. All proceeds go toward building a new manufacturing facility in Manda, Rajasthan to expand production capacity.

Price band is ₹193–₹203 per share. Lot size is 600 shares and the minimum retail investment is ₹2,43,600 for two lots at the upper band. GMP as of June 14, 2026 stood at ₹60, implying an expected listing price of around ₹263 — roughly 29.6% above issue price.

Detail	Information
Incorporated	July 1994, Rajasthan
Sector	Bone China / Ceramic Tableware
Issue Size	₹110.11 crore (100% Fresh Issue)
Price Band	₹193–₹203 per share
Lot Size	600 shares
Min. Retail Investment	₹2,43,600 (2 lots)
GMP	₹60 (+29.6%) as of Jun 14, 2026
Registrar	KFin Technologies Ltd.
Lead Manager	HEM Securities Ltd.
Listing Date	Jun 24, 2026 — NSE SME

Diksha Polymers SME IPO

Diksha Polymers manufactures PET bottles, PET containers, PET preforms, and caps used in food and beverages, lubricants, pharmaceuticals, agrochemicals, and consumer goods. The company operates three manufacturing facilities spread across 26,879 sq. ft. with an installed capacity of 2,163 MTPA for PET bottles and 1,913 MTPA for preforms.

PET bottles make up 71.3% of revenue while preforms account for 25.8%. The company had 17 employees as of March 31, 2026 and operates a B2B model serving customers across multiple sectors.

The issue is a fixed price IPO at ₹112 per share raising ₹17.90 crore. Proceeds will primarily go toward repaying debt and strengthening working capital. Minimum investment is ₹2,68,800 for 2,400 shares. GMP is currently ₹0 — grey market is neutral ahead of listing.

Detail	Information
Sector	Plastic Packaging — PET Bottles & Preforms
Manufacturing	3 facilities, 26,879 sq. ft.
Issue Size	₹17.90 crore (Fixed Price)
Issue Price	₹112 per share
Lot Size	2,400 shares
Min. Retail Investment	₹2,68,800
Employees	17 (as of March 31, 2026)
GMP	₹0
Registrar	Cameo Corporate Services
Listing Date	Jun 24, 2026 — BSE SME

Liotech Industries SME IPO

Liotech Industries was founded in 2020 in Rajkot, Gujarat. It manufactures architectural hardware and furniture fittings — hinges, door handles, locks, tower bolts, gate hooks, and aldrop in over 150 product specifications. It also trades complementary hardware items like door stoppers, magnets, and table brackets.

The company serves a B2B customer base across housing, infrastructure, automotive, agriculture, solar energy, cement, and mining sectors. Revenue in FY25 was ₹40.69 crore, up from ₹27.87 crore in FY24. Net profit grew from ₹2.93 crore to ₹4.16 crore in the same period. For the nine months ended December 31, 2025, revenue was already ₹51.79 crore.

The issue raises ₹36.02 crore — ₹28.89 crore fresh issue and ₹7.13 crore OFS. Issue price is fixed at ₹321 per share. Minimum investment per lot is ₹2,56,800 for 800 shares.

Detail	Information
Founded	2020, Rajkot, Gujarat
Sector	Architectural Hardware / Furniture Fittings
Products	Hinges, Locks, Handles, Tower Bolts, Door Kits (150+ specs)
Revenue FY25	₹40.69 crore
Net Profit FY25	₹4.16 crore
Issue Size	₹36.02 crore (₹28.89 cr fresh + ₹7.13 cr OFS)
Issue Price	₹321 per share (Fixed Price)
Lot Size	800 shares
Min. Retail Investment	₹2,56,800
GMP	₹0
Registrar	KFin Technologies Ltd.
Listing Date	Jun 24, 2026 — BSE SME

Leapfrog Engineering SME IPO

Leapfrog Engineering Services is opening its IPO from June 17 to 19, 2026. The price band is ₹21–₹23 per share — one of the lowest entry price points in the current SME pipeline. However, the lot size is 12,000 shares, bringing the minimum investment to approximately ₹2,76,000 at the upper band.

GMP is currently ₹0. Subscription data during the bidding window will be the most important signal for this issue. Leapfrog lists on NSE SME on June 24, 2026.

Detail	Information
Price Band	₹21–₹23 per share
Lot Size	12,000 shares
Min. Retail Investment	~₹2,76,000
GMP	₹0
Listing Date	Jun 24, 2026 — NSE SME

Why SME IPO Lot Sizes Are Much Higher Than Mainboard

First-time investors are often surprised by how much capital an SME IPO requires per application. While a Mainboard IPO needs ₹14,000–₹15,000, an SME application can demand ₹2–3 lakh or more.

SEBI has designed it this way deliberately. SME companies are smaller, post-listing liquidity is thinner, and price movements can be sharp. The higher entry point filters for investors who can absorb that risk. It also means SME allotment is proportionate — unlike the Mainboard lottery system, applying for more lots in an SME issue genuinely improves your chances of getting a larger allotment.

What to Check in the Upcoming SME IPO 2026 Complete List Before Applying

The upcoming SME IPO 2026 complete list has issues from very different sectors and risk profiles. Investors who regularly track the upcoming SME IPO 2026 complete list know that not every issue with a good GMP is worth applying for. These are the factors that matter.

Parameter	What a Strong Signal Looks Like
GMP Trend	Stable or rising through all 3 days of subscription
Issue Type	100% fresh issue preferred over heavy OFS
Revenue Growth	Consistent 20%+ YoY growth over last 2 years
Profitability	Company must be profit-making — loss-making SMEs carry very high risk
Use of Proceeds	Capex or capacity expansion over pure debt repayment
HNI Subscription	Strong HNI demand signals high-conviction interest
Lead Manager Track Record	Check past SME listings managed by the same merchant banker

Profitability is the most important filter for SME IPOs. Large Mainboard companies can sometimes justify losses with scale and future projections. SME investors cannot rely on that logic — the business must already be generating profit before you apply.

GMP trend over three days matters more than the Day 1 number. A GMP of ₹30 that holds steady through Day 3 is a more reliable signal than a ₹60 GMP that fades to ₹10 by close.

Always read the Risk Factors section of the RHP. SME companies often disclose customer concentration risk, unsecured loans repayable on demand, and dependence on a few large buyers — these are real risks that affect post-listing performance.

SME IPO vs Mainboard IPO — Side by Side

Factor	SME IPO	Mainboard IPO
Listing Exchange	BSE SME / NSE Emerge	BSE / NSE Main Board
Min. Retail Investment	₹1 lakh – ₹3 lakh	₹14,000 – ₹15,000
Post-listing Liquidity	Lower	Higher
Price Volatility Post-Listing	Higher	Comparatively lower
Allotment Process	Proportionate (min. 1 lot guaranteed)	Lottery if oversubscribed
SEBI Eligibility	Post-issue capital ₹1–₹25 crore	Stricter financial norms
QIB Participation	Rare or zero	Common in quality issues

Frequently Asked Questions

1. What is the minimum investment required for an SME IPO in 2026?

Each issue in the upcoming SME IPO 2026 complete list has a different lot size, Clay Craft India requires ₹2,43,600 for two lots, Diksha Polymers requires ₹2,68,800 for one lot, and Liotech Industries requires ₹2,56,800. Always verify the lot size and price band from the official RHP before applying.

2. How does SME IPO allotment work compared to Mainboard?

In oversubscribed Mainboard IPOs, SEBI mandates a lottery — each applicant either gets one lot or nothing. In SME IPOs, allotment is proportionate. Applying for more lots increases your chance of receiving a larger allotment. The minimum guaranteed allotment is one lot per successful applicant.

3. Is the GMP of an SME IPO a reliable indicator?

GMP is an unofficial grey market figure — it is not regulated by SEBI and carries no guarantee. For SME issues, track the GMP trend across all three subscription days rather than just Day 1. A GMP that holds steady or rises through Day 3 shows genuine demand. Never base your application decision purely on GMP.

4. Where do SME IPO shares list — BSE SME or NSE Emerge?

It depends on which exchange the company has chosen. Clay Craft India and Leapfrog Engineering list on NSE Emerge, while Diksha Polymers and Liotech Industries list on BSE SME. You can check and trade SME listed shares through your regular Demat account on your broker platform.

5. What documents and accounts do I need to apply for an SME IPO?

You need a valid PAN card, a Demat account with a registered broker, and a bank account with either UPI or ASBA facility enabled. Log in to your broker app, go to the IPO section, select the SME issue, enter your lot quantity and bid price, and submit. For fixed price issues like Diksha Polymers and Liotech Industries, you apply at the declared price — no bidding range.

Bookmark this page to stay updated with the upcoming SME IPO 2026 complete list — new issues from the upcoming SME IPO 2026 complete list are added as companies file their RHPs and open subscription windows.

This article is for informational purposes only and does not constitute investment advice. SME IPO investing involves higher market risk than Mainboard issues. Always read the Red Herring Prospectus before investing and consult a SEBI-registered financial advisor. GMP data is unofficial and not regulated by SEBI.