SME IPOs most dependent on their largest customer
Which companies coming to the market earned the largest share of revenue from a single customer?
70 SME IPOs newboard has studied give this figure in their offer documents. The median largest customer, share of revenue is 18.1%, and the middle half run from 11.2% to 29.5%. Sai Urja Indo Ventures is first, at 74.8%.
Ranked on 4 Oct 2026; the first 50 of 70 are shown. The list moves as studies are added.
How this list is ranked
The largest customer's share of revenue from operations in the latest period each offer document gives, usually stated in its risk factors. Many documents do not name the customer; each study says whether it does. 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: customers
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