The Indian stock market witnessed a notable trend in March 2025, as the mainboard segment experienced a lull with no new initial public offerings (IPOs) launched throughout the month. In contrast, the Small and Medium Enterprises (SME) segment demonstrated remarkable activity, with several companies successfully launching their IPOs and making their debut on Dalal Street.
Desco Infratech’s Successful Debut
Desco Infratech, an infrastructure sector company, opened its IPO for subscription from March 24 to March 26, 2025. The company aimed to raise Rs.30.75 crore by issuing 20.5 lakh new shares. The price band was set between Rs.147 and Rs.150 per share. Following the successful subscription, Desco Infratech’s shares were listed on April 1, 2025, marking a significant milestone for the company.
ATC Energies System Charges Ahead
ATC Energies System, specializing in lithium-ion battery manufacturing, launched its IPO from March 25 to March 27, 2025. The company sought to raise Rs.63.76 crore through the issuance of 54.03 lakh shares, comprising 43.23 lakh new shares and 10.8 lakh shares offered by promoters. The price band was set between Rs.112 and Rs.118 per share. ATC Energies System’s shares were listed on April 2, 2025, receiving a warm welcome from investors.
Identixweb’s Digital Leap
Identixweb, a Shopify app development company, opened its IPO for subscription from March 26 to March 28, 2025. The company aimed to raise Rs.16.66 crore by issuing 30.8 lakh shares, with a price band set between Rs.51 and Rs.54 per share. The shares were listed on April 3, 2025, marking a significant step in Identixweb’s growth journey.
Active Infrastructures Builds Market Presence
Active Infrastructures Limited, a civil construction company specializing in development and commercial projects, launched its IPO from March 21 to March 25, 2025. The company aimed to raise approximately Rs.77.83 crore through a fresh issue, with a price band set between Rs.178 and Rs.181 per share. The shares were listed on March 29, 2025, enhancing the company’s market presence.
Grand Continent Hotels’ Hospitality Entry
Grand Continent Hotels Limited, based in Bangalore, launched its IPO in March 2025, aiming to raise Rs.74.46 crore. The company’s shares were listed on March 27, 2025, marking its entry into the public market and expanding its footprint in the hospitality industry.
Divine Hira Jewellers’ Sparkling Offering
Divine Hira Jewellers Limited, a gold jewelry retailer, opened its IPO from March 17 to March 19, 2025, with a price band set at Rs.90 per share. The company aimed to raise Rs.31.84 crore through a fresh issue. The shares were listed on March 24, 2025, adding a new sparkle to the stock market.
Rapid Fleet Management Services Accelerates Market Entry
Rapid Fleet Management Services Limited, a logistics company, launched its IPO in March 2025, aiming to raise Rs.43.87 crore. The shares were listed on March 28, 2025, accelerating the company’s growth trajectory in the logistics sector.
SME IPOs: A Growing Trend
The surge in SME IPOs during March 2025 highlights a growing trend of small and medium enterprises tapping into the capital markets to fuel their expansion plans. This increased activity in the SME segment contrasts with the mainboard’s quiet phase, indicating a shift in investor interest towards emerging companies with high growth potential.
Investor Considerations
Investors exploring SME IPOs should conduct thorough due diligence, considering factors such as the company’s financial health, business model, competitive landscape, and growth prospects. While SME IPOs offer opportunities for substantial returns, they may also carry higher risks compared to established mainboard companies.
Conclusion
March 2025 has been a dynamic month for the SME segment on Dalal Street, with several companies successfully launching and listing their IPOs. This trend underscores the vitality and resilience of small and medium enterprises in India’s economic landscape, offering new opportunities for investors and contributing to the broader growth of the stock market.
