Eight SME IPOs Open as Primary Market Activity Accelerates

Nidhi Thakur

September 30, 2026

The SME IPO segment has become active again with eight companies opening their public issues on September 30, 2026. Together, the eight IPOs are looking to raise around ₹440 crore from investors. The companies are TNA Solutions, Omara Ventures India, Sollfege Smart Electronics, Eventions, Acme India Industries, Paramount Syntex, SJP Ultrasonics and Dove Soft. The latest IPO activity comes as investors continue to track opportunities across the SME segment. The eight issues have different business models and issue structures, with the IPOs offering companies an opportunity to raise funds for growth and expansion.

Dove Soft is among the issues opening on September 30. The company had earlier announced a price band of ₹104 to ₹111 per share. The IPO is being closely tracked as part of the current wave of SME issues entering the primary market. Swastika Investmart is also in focus for its research coverage of the SRIT India IPO. The ₹218.40 crore issue carries a price band of ₹123 to ₹130 per share and opened on September 28. The issue is scheduled to close on September 30, with listing expected on October 6.

Swastika Investmart has given SRIT India a Neutral view. The brokerage has highlighted the company's strong return ratios and positioning in public-sector digitalisation as positive factors, while also pointing to its working-capital cycle, dependence on government-tendered contracts and high subcontracting costs as areas to monitor. The SRIT India IPO has also seen different brokerage views based on their valuation methods. Swastika's analysis uses pre-IPO EPS and arrives at a P/E of around 14.25 times, while other brokerages using post-issue diluted earnings arrive at higher multiples. This shows why valuation comparisons can differ depending on the earnings basis used.

The growing number of SME IPOs shows that the primary market remains active across smaller businesses. For investors tracking these issues, factors such as valuation, profitability, working capital, business concentration and the use of IPO proceeds remain important parts of the IPO analysis.