In a year that has seen the Indian primary markets brimming with enthusiasm, the small and medium-sized enterprises (SMEs) segment have emerged as a shining star. Fueled by strong support from retail and non-institutional investors, SMEs have witnessed solid subscription rates and made notable market entries with substantial premium openings.
According to data from Trendlyne, 116 companies have raised funds from Indian markets so far in 2023, with a significant portion of 97 companies falling within the SME category. The performance of SMEs listed this year has been outstanding, with shares of 40 companies trading with gains ranging from 100-400%.
Shares of Krishca Strapping Solutions stood at the top, delivering a return of over 400%. The shares got listed on the Indian stock exchanges on May 26, 2023, after successfully raising ₹17.6 crore.
The IPO received a tremendous response from investors, as it was subscribed to nearly 337 times. The HNI segment, in particular, witnessed solid interest, with a staggering subscription rate of 786.9 times.
Following the stellar response from investors, the stock debuted at ₹118.8, a premium of 120% over the issue price of ₹54. Since its listing, the stock has maintained a steady upward momentum to date, reaching to ₹272 levels.
Exhicon Events Media Solutions was another stock in this lineup whose shares have rallied from the issue price of ₹64 to ₹300, generating a return of 368.8%. Although the stock began with a flat start on its first day, it gradually gained momentum, and in the current month, it has surged by nearly 5%.
Likewise, MCON Rasayan India shares have gained 305% to trade at the current price of ₹162 from their issue price of ₹40 apiece. The IPO received a phenomenal response from all sections of investors, the retail portion was subscribed to 384 times and the HNI portion was subscribed to 307 times.
Other notable performers, including Infinium Pharmachem, Vasa Denticity, Remus Pharmaceuticals, Macfos, Srivasavi Adhesive Tapes, Bright Outdoor Media, Systango Technologies, Oriana Power, AccelerateBS India, and Comrade Appliances, are trading with gains of over 200%.
| Company Name | Issue Price (Rs) | Current Market Price (Rs) | Current gain |
| Krishca Strapping Solutions | 54 | 272 | 403.7% |
| Exhicon Events Media Solutions | 64 | 300 | 368.8% |
| MCON Rasayan India | 40 | 163.8 | 309.5% |
| Vasa Denticity | 128 | 516.5 | 303.6% |
| Infinium Pharmachem | 135 | 539 | 299.3% |
| Macfos | 102 | 380 | 272.6% |
| Remus Pharmaceuticals | 1229 | 4480 | 264.5% |
| Srivasavi Adhesive Tapes | 41 | 148 | 261% |
| Systango Technologies | 90 | 303 | 236% |
| Bright Outdoor Media | 146 | 484 | 231.5% |
| Oriana Power | 118 | 379.9 | 222% |
| AccelerateBS India | 90 | 289.2 | 221.3% |
| Srivari Spices and Foods | 42 | 128.8 | 206.6% |
| Comrade Appliances | 54 | 161.6 | 199.2% |
| Source: Trendlyne |
In terms of the highest subscription, Anlon Technology Solutions IPO emerges as the frontrunner which got subscribed by 428.5 times. The retail segment was subscribed to 446.8 times, while the NII portion was subscribed to 883.6 times.
Taking the current market price of ₹281 apiece into consideration, Anlon Tech shares are trading 163.7% higher than their issue price of ₹100.
| Company Name | Issue Size ( ₹in Crore)) | Total Subscription |
| Anlon Technology Solutions | 15 | 428.5x |
| Srivari Spices and Foods | 9.0 | 418.4x |
| MCON Rasayan India | 6.8 | 384.6x |
| Quality Foils (India) | 4.5 | 364.4x |
| Krishca Strapping Solutions | 17.9 | 336.6x |
| Kaka Industries | 21.2 | 271.3x |
| Infollion Research Services | 21.4 | 259.1x |
| Urban Enviro Waste Management | 11.4 | 242.7x |
| Earthstahl & Alloys | 13 | 234.8 |
| Aristo Bio-Tech and Lifescience | 13.1 | 217.7x |
| Chaman Metallics | 24.2 | 207.9x |
| Macfos | 23.7 | 193.8x |
| Source: Trendlyne |
In a similar fashion, Srivari Spices and Foods also received a huge response from investors, as the company's IPO was subscribed to 418 times during the bidding period from August 07 to August 09.
The stock enjoyed a great debut, opening at an almost 60% premium at ₹101 apiece compared to the issue price of ₹42. The stock has extended its bull run to date and is up by 206% over the issue price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of MintGenie.
