If you are someone who is also planning to invest in the SME IPO and looking for the best upcoming SME IPO in 2026, then you are at the right place. In this blog, we will break down the top SME IPO to watch in 2026 that could deliver high-risk, high-reward returns. Note that all the IPOs below have not announced a date, details, or issue size yet.
What is an SME IPO?
SME IPOs are small to medium-sized companies that go public to raise funds via an Initial Public Offering (IPO). The SME IPOs get listed at the BSE SME or NSE Emerge platforms. Usually, SMEs carry a higher risk because they are small- and medium-sized companies still seeking liquidity to grow and strengthen their financial stability.
Unlike mainboard IPOs, to invest in SME IPOs, investors must have a higher amount of funding due to larger lot sizes and lower liquidity. That’s why SME IPOs are more suitable for high-risk, high-reward investors. So if that sounds like you, then the following is the list of the upcoming SME IPO in 2026 you can invest in.
Top SME IPO list to watch in 2026
| Company | IPO Date | Sector | Listing Platform |
| GenxAI Analytics Limited | 2026 | Information Technology (IT) sector | NSE SME |
| MTE Structures Ltd. | 2026 | Solar Panels sector | BSE SME |
| Axiom Gas Engineering Limited | 2026 | energy and oil & gas sector | NSE SME |
| Fourfront Ltd. | 2026 | Automotive & EV component manufacturing | BSE SME |
| SJP Ultrasonics Ltd. | 2026 | Industrial automation & welding tech | BSE SME |
| Mother Agri Food Ltd. | 2026 | agriculture & food products sector | BSE SME |
| Peshwa Wheat Limited | 2026 | agro-food processing and manufacturing sector | BSE SME |
| Vahh Chemicals Limited | 2026 | Chemicals/Manufacturing | BSE SME |
| Milworks Technologies Limited | 2026 | Manufacturing Sector | BSE SME |
| LIQVD DIGITAL INDIA LIMITED | 2026 | digital marketing and advertising sector | BSE SME |
GenxAI Analytics Limited:
MTE Structures Limited:
Another upcoming IPOto keep in mind is MTE Structures, which has already filed its Draft papers on October 31, 2025, and plans to hit the stock market by next year. The equity shares are proposed to be listed on the BSE SME. As per the report, the company will be raising 37,06,000 shares via fresh issue and up to 6,54,000 equity shares via OFS. Since its incorporation in 2020, the company has been involved in the manufacturing of specialised solar panel mounting structures.
Axiom Gas Engineering Limited:
The company received approval from SEBI on May 8, 2025, to launch its IPO. Axiom Gas Engineering, founded in 2007, is engaged in offering green energy engineering solutions. As per the document, this ipo comprises a fresh issue of 93,00,000 Equity Shares and an Offer for Sale of 10,00,000 Equity Shares. The equity shares are proposed to be listed on NSE SME.
FourFont Limited:
Founded in 2007, FourFont Ltd is one of the leading companies involved in designing and manufacturing electromechanical and power electronics products. SEBI has already approved the draft papers of the company in August 2025, and we can expect them to launch their IPO in 2026. According to the document, this IPO will be entirely a fresh issue of 6500000 Equity Shares of face value of ₹10 each. Details like IPO date, price band, and size are yet to be announced.
SJP Ultrasonics Limited:
On September 29, 2025, SJP Ultrasonics filed a Draft Red Herring Prospectus to raise 35,00,000 Equity Shares via a Fresh issue. Incorporated on January 27, 2012, SJP Ultrasonics is a leading end-to-end plastic joining and automation solution provider. The Equity shares are proposed to be listed on the BSE (Bombay Stock Exchange). Financially, in FY25, the company reported revenues of ₹21.15 crore and a profit after tax (PAT) of ₹4.17 crore.
Mother Agri Food Limited:
Founded in 2023, Mother Agri Food supplies processed agricultural products to B2B clients. In December 2025, SEBI has already approved the draft papers. The company is planning to raise 63,27,000 Equity Shares via a fresh issue. The equity shares are proposed to be listed on the BSE SME. In FY25, the company reported a revenue of ₹39.07 crore and PAT of ₹1.49 crore, respectively.
Peshwa Wheat Limited:
The company has already filed its draft papers and is waiting for SEBI’s approval. Peshwa Wheat processes wheat and flour products, including atta, besan, and maize flour. As per the report, this IPO consists solely of a fresh issue of 55,00,000 Equity Shares. The equity shares are proposed to be listed on the BSE SME.
Vahh Chemicals Limited:
Vahh Chemicals is another awaited upcoming ipo in 2026 already submitted its draft papers to SEBI. Founded in 2019, Vahh Chemicals is a certified company that manufactures and supplies textile auxiliary chemicals. This IPO will be a solely fresh issue of 22,42,000 Equity Shares, meaning the company will be using funds towards the growth of the company.
Millworks Technologies:
Millworks Technologies filed the DRHP on Feb 16, 2026. As per the DRHP, the firm is planning to raise funds of 0.50 crore equity shares via a fresh issue with no OFS component. Millworks Technologies is one of the leading precision engineering companies involved in the manufacturing of high-accuracy machined components. We can expect the IPO to be launched by 2026.
Liqvd digital India:
SEBI has already accepted the draft papers on February 4, 2026, which means we can accept the IPO to be launched by the end of 2026. Founded in 2013, Liqvd Digital works in the digital marketing space, known for offering complete marketing and communication services. As per the DRHP, the firm is planning to raise a fund of ₹37.00 crores via fresh issue and upto 0.11 crores via Offer-for-Sale.
