SME IPOs where sellers take the largest share
In which IPOs does the largest share of the money raised go to shareholders selling, not to the company?
6 SME IPOs newboard has studied give this figure in their offer documents. The median is 11.7%. Sai Urja Indo Ventures is first, at 17.2% (offer for sale ₹4.3 cr; fresh issue ₹20.7 cr).
Ranked on 4 Oct 2026. The list moves as studies are added.
| # | Issue | Stage | Offer for sale, share of the issue | Offer for sale | Fresh issue |
|---|---|---|---|---|---|
| 1 | Sai Urja Indo Ventures SME | Closed | 17.2% | ₹4.3 cr | ₹20.7 cr |
| 2 | Liqvd Digital India SME | Closed | 12.6% | ₹4.9 cr | ₹34.1 cr |
| 3 | Bench Mark Infotech Services SME | DRHP filed | 11.8% | ₹5 cr | ₹37.4 cr |
| 4 | Green Asia Impex SME | Closed | 11.6% | ₹7 cr | ₹53.1 cr |
| 5 | Himalayan Solar SME | Closed | 10.9% | ₹7.4 cr | ₹60.7 cr |
| 6 | Papadmalji Agro Foods SME | Closed | 8.4% | ₹1.7 cr | ₹18.5 cr |
How this list is ranked
The offer for sale (money to the shareholders selling) as a share of the offer for sale and the fresh issue (money to the company) together, in rupees at the upper band, as each study states them. Who is selling, and how many shares, is in each issue's study. A list ranks the issues by one figure from each offer document. It places them; it says nothing about whether any of the shares is worth owning.
More lists: the issue
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