Upcoming SME IPOs in India – Key Dates & Investment Insights

India’s Small and Medium Enterprises are steadily entering the public markets to accelerate their growth, demonstrating strong entrepreneurial expertise and expansion potential while drawing investor interest. As of March 25, 2025 the following companies have announced their Initial Public Offerings (IPOs), along with their issue dates, listing dates, and price ranges.

Desco Infratech Limited is a Surat, Gujarat based company working in the Engineering, Planning & Construction Segment in the City Gas Distribution, Along with the Energy sector such as Renewable, Water & Power sectors in India. Currently present across 14 States with more than 45+ cities / towns in India. Desco Infra has expertise in Oil & Gas MDPE & Steel Pipeline and HDPE/DI/CI/RCC along with Construction of Overhead Tanks and Open wells including Effluent Treatment Plants in Water development & HT/LT Power cables and development projects.

Desco Infratech IPO is a book built issue of Rs 30.75 crores. The issue is entirely a fresh issue of 20.50 lakh shares.

Desco Infratech IPO bidding opened for subscription on March 24, 2025 and will close on March 26, 2025. The allotment for the Desco Infratech IPO is expected to be finalized on Thursday, March 27, 2025. Desco Infratech IPO will be list on BSE SME with a tentative listing date fixed as Tuesday, April 1, 2025.

Shri Ahimsa Naturals Incorporated in 1990, Shri Ahimsa Naturals Limited extracts and manufactures Caffeine Anhydrous, Green Coffee Bean Extracts, and Crude Caffeine, also trading other herbal extracts.

The company’s products find its application in the food & beverage, nutra-ceuticals, cosmetics and pharmaceutical industries due to their health benefits. The manufacturing unit is situated in Jaipur, Rajastha and the company exports its products to the USA, Germany, South Korea, the UK, Thailand, etc.

Shri Ahimsa Naturals IPO is a book built issue of Rs 73.81 crores. The issue is a combination of fresh issue of 42.04 lakh shares aggregating to Rs 50.02 crores and offer for sale of 19.99 lakh shares aggregating to Rs 23.79 crores.

Shri Ahimsa Naturals IPO bidding opened for subscription on March 25, 2025 and will close on March 27, 2025. The allotment for the Shri Ahimsa Naturals IPO is expected to be finalized on Friday, March 28, 2025. Shri Ahimsa Naturals IPO will be list on NSE SME with a tentative listing date fixed as Wednesday, April 2, 2025.

Identixweb Limited is a growing and innovative technology firm specializing in Shopify app development, WordPress plugins, and custom web app development. With a customer-first approach and a passion for innovation, its expert team develops powerful digital solutions that solve real-world challenges.

Identixweb IPO is a book built issue of Rs 16.63 crores. The issue is entirely a fresh issue of 30.80 lakh shares.

Identixweb IPO opens for subscription on March 26, 2025 and closes on March 28, 2025. The allotment for the Identixweb IPO is expected to be finalized on Tuesday, April 1, 2025. Identixweb IPO will be list on BSE SME with a tentative listing date fixed as Thursday, April 3, 2025.

Retaggio Industries Incorporated in 2022. Retaggio Industries Limited is engaged in the manufacturing of jewellery, including necklaces, bracelets, earrings, and other decorative pieces.

The company is a jewellery manufacturer with extensive experience in the B2B sector and offers high-end, heritage pieces known for exceptional craftsmanship and unique designs.

The company began as M/s Vaibhav Gems in 2012. In 2022, Mr. Savinay Lodha expanded the business by establishing Retaggio Industries Limited, acquiring M/s Vaibhav Gems through a Business Transfer Agreement.

The company has an in-house design team focused on customer needs, market analysis, and offering a wide product range. Its professionalism and commitment aim to build trust and deliver lasting value.

Retaggio Industries IPO is a fixed price issue of Rs 15.50 crores. The issue is entirely a fresh issue of 61.98 lakh shares.

Retaggio Industries IPO opens for subscription on March 27, 2025 and closes on April 2, 2025. The allotment for the Retaggio Industries IPO is expected to be finalized on Thursday, April 3, 2025. Retaggio Industries IPO will be list on BSE SME with a tentative listing date fixed as Monday, April 7, 2025.

Spinaroo Commercial Incorporated in August 17, 2012, Spinaroo Commercial Limited is engaged in the manufacturing of aluminum foil containers, aluminum home foil, paper cups, paper plates, paper bowls, and semi-processed materials for paper cups, including paper coating, printing, and blanking.

They also offer a range of paper cup-related machinery, such as high-speed paper cup-making machines, flexo printing machines, and automatic roll die-cutting machines, providing comprehensive end-to-end support.

The company offers a wide range of high-quality products made from superior raw materials. These are manufactured under expert guidance, ensuring exceptional performance, competitive pricing, and timely delivery to meet client specifications.

Spinaroo Commercial IPO is a fixed price issue of Rs 10.17 crores. The issue is entirely a fresh issue of 19.94 lakh shares.

Spinaroo Commercial IPO opens for subscription on March 28, 2025 and closes on April 3, 2025. The allotment for the Spinaroo Commercial IPO is expected to be finalized on Friday, April 4, 2025. Spinaroo Commercial IPO will be list on BSE SME with a tentative listing date fixed as Tuesday, April 8, 2025.

Infonative Solutions is among the fastest growing learning solutions companies in the world. INS specialises in designing and developing end-to-end learning solutions for corporates and educational institutes. With an experienced team of 140+ learning consultants, INS has successfully established itself as the preferred global learning partner for several Fortune 500 companies. The core team brings decades of Learning Consulting experience to Fortune 500 companies which helps them coherently understand organisations’​ workforce challenges and accordingly design and develop bespoke learning and technology solutions that help them these challenges. INS specialises in crafting Device Independent e-Learning, Micro-Learning, Mobile Learning, Game Based Learning, Video Based Learning and Instructor-Led Training solutions with rich instructional design strategies and multimedia intensive approaches

Infonative Solutions IPO is a book built issue of Rs 24.71 crores. The issue is entirely a fresh issue of 31.28 lakh shares.

The Infonative Solutions IPO will open for subscription on March 28 2025 and close on April 03 2025. The IPO allotment is expected to be finalized on Friday April 4 2025. Infonative Solutions is set to list on BSE SME with a tentative listing date of Tuesday, April 8 2025.

These anticipated IPOs accentuate the robust growth and investor interest in India’s SME sector. As these companies prepare to enter the public markets, they offer promising opportunities for investors seeking to participate in India’s economic expansion.​

Disclaimer: Investing in IPOs, including SME IPOs, carries inherent risks and should be undertaken with due diligence.