SME IPO Activity Remains Strong as New Issues and Listings Stay in Focus

Nidhi Thakur

September 28, 2026

The SME IPO segment continues to remain active, with new issues, upcoming offerings and fresh listings attracting market attention. Robokidz Eduventures, FX Multitech and Vivekanand Cotspin were among the SME IPOs scheduled to list, while Dove Soft was preparing to open its issue. At the same time, Acevector's IPO drew attention because of competition, losses and the company's valuation. Robokidz, FX Multitech and Vivekanand Cotspin were scheduled to make their market debut on September 28. Vivekanand Cotspin's IPO had a price band of ₹32–₹37 per share, while Swastika Investmart was the book-running lead manager for the issue. The company planned to use the IPO proceeds mainly for plant and machinery, working capital and general corporate purposes.

FX Multitech's ₹45.24-crore issue included a fresh issue of 35.52 lakh shares worth ₹41.20 crore and an offer for sale of 3.48 lakh shares worth ₹4.04 crore. The IPO opened on September 21 and closed on September 23, 2026. Another upcoming SME issue in focus is Dove Soft. The company is set to open its SME IPO for subscription, with investors tracking its price band and other issue details. This adds to the steady flow of smaller public issues coming to the market during the current IPO cycle.

Acevector's IPO has attracted a different kind of attention. Business Standard reported that analysts raised concerns around competition, continued losses and logistics costs. The company's Unicommerce SaaS business was identified as an important positive, while the Snapdeal marketplace remained loss-making. Swastika Investmart highlighted continued losses, high logistics and marketing costs and dependence on future SaaS growth as key risks.

The latest activity shows that the SME IPO market continues to have a mix of companies at different stages. Some are preparing for listing, some are coming to the market with fresh issues, and others are being assessed on their financial performance and business risks. Investors therefore continue to track issue structure, valuation, profitability and the planned use of IPO proceeds.