Open SME IPO

SME Issues Open Today — 20 August 2026

As of 20 August 2026, 2 issues are open for subscription. Demand across the open book is uneven: Mopshop Distribution is at 1.03x while Dhanwel Hybrid Seeds is at 0.54x.

• Dhanwel Hybrid Seeds — SME, ₹95–99, closing tomorrow. Subscribed 0.54x overall — NII 0.07x, retail 1.02x. Highest category multiple: retail at 1.02x.   Grey market premium ₹12 (12.1%).
• Mopshop Distribution — SME, ₹138 fixed price, closing tomorrow. Subscribed 1.03x overall — NII 0.15x, retail 1.91x. Highest category multiple: retail at 1.91x.   Grey market premium ₹1 (0.7%).

Subscription multiples are taken from the exchange bidding feed and move through the day; grey market premiums are unofficial dealer quotes, not exchange prices, and carry no settlement guarantee. What GMP does and does not tell you →

Bidding on an Open SME IPO — the Rules That Changed in 2025

SME bidding no longer works the way most guides describe it. The rules that took effect on 1 July 2025 changed the mechanics for every category, and applying with the old assumptions is how applications get rejected.

• There is no retail category any more. The old Retail Individual Investor bucket was replaced by a single Individual Investor category, with a minimum of two lots valued above Rs 2 lakh. The Rs 1 lakh–1.5 lakh thresholds you may have applied at previously are obsolete.
• Cut-off price is gone — for every category. You must name a price. A bid below the eventual issue price simply does not participate in the allotment, so bidding at the top of the band is the only way to guarantee your application is considered.
• You cannot revise downward or cancel. Once placed, an SME bid can be revised upward only. Decide your number before you submit it.
• Above Rs 5 lakh, UPI will not work. The UPI mandate ceiling is Rs 5 lakh, so larger SME applications must go through ASBA with a bank block. Since the SME minimum is already above Rs 2 lakh, this catches applicants sooner than on Mainboard.
• Bid on the right platform. SME issues list on BSE SME or NSE Emerge, not the main exchanges — check which one before placing the order.

Live subscription multiples above update through the bidding window. Compare ASBA and UPI → · See how recent SME issues listed →

IPO investing carries risk of capital loss, allotment is not guaranteed, and grey market premium is an unofficial signal rather than a prediction. Nothing here is investment advice — read the offer document and consult a SEBI-registered adviser before committing capital.