SME IPOs priced lowest against the peers they named
Which IPOs came at the lowest P/E compared with the listed peers the company itself chose?
18 SME IPOs newboard has studied give this figure in their offer documents. The median P/E against the peer median is -33%, and the middle half run from -52.8% to 8.5%. Roopa Screen is first, at -78% (P/E at the upper band 10.9×; peer median P/E 50.5×).
Ranked on 4 Oct 2026. The list moves as studies are added.
| # | Issue | Stage | P/E against the peer median | P/E at the upper band | Peer median P/E |
|---|---|---|---|---|---|
| 1 | Roopa Screen SME | Closed | -78% | 10.9× | 50.5× |
| 2 | Unitec Fibres SME | Closed | -69% | 16.7× | 54.1× |
| 3 | TNA Solutions SME | Live | -62% | 14.9× | 39.6× |
| 4 | Peshwa Wheat SME | Closed | -55% | 12.2× | 27× |
| 5 | R.K. Fashion Accessories SME | Upcoming | -54% | 20.2× | 44.3× |
| 6 | Axiom Gas Engineering SME | Closed | -49% | 20.2× | 39.8× |
| 7 | Acme Universal Safezone 9 SME | Closed | -43% | 23.1× | 40.8× |
| 8 | Bench Mark Infotech Services SME | DRHP filed | -42% | 15.4× | 26.6× |
| 9 | Dudani Retail SME | Closed | -33% | 15.8× | 23.7× |
| 10 | Shivchem Agro SME | Closed | -33% | 14.4× | 21.5× |
| 11 | Green Asia Impex SME | Closed | -29% | 12.3× | 17.2× |
| 12 | Coreintegra Consulting Services SME | Closed | -4% | 18.1× | 18.9× |
| 13 | Shree TNB Polymers SME | Live | 1% | 15.9× | 15.7× |
| 14 | Eventions SME | Live | 11% | 18.6× | 16.7× |
| 15 | Himalayan Solar SME | Closed | 32% | 11× | 8.3× |
| 16 | Pooja Logistics SME | Closed | 41% | 13.3× | 9.4× |
| 17 | Liqvd Digital India SME | Closed | 53% | 17.7× | 11.6× |
| 18 | Sai Urja Indo Ventures SME | Closed | 81% | 20.4× | 11.3× |
How this list is ranked
The P/E at the upper end of the band against the median P/E of the listed peers in the offer document's basis-for-price section, as a percentage above or below it. The company chooses its own peers, and they may not run the same business. 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 price
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