Gujarat-based SMEs raise record Rs 1,919 crore through IPOs in FY25

Parag Dave / TNN / Updated: Apr 2, 2025, 12:58 IST

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Gujarat's SMEs have set a record by raising Rs 1,919 crore in FY25 from IPOs, making it the highest in a financial year for the state. With 50 companies listing on NSE Emerge and BSE SME, Gujarat ranked second in fundraising after Maharashtra. This surge highlights the increasing reliance on IPOs for growth and brand enhancement among SMEs.

Gujarat-based SMEs raise record Rs 1,919 crore through IPOs in FY25

Gujarat's SMEs set a new record in IPO fundraising, totaling Rs 1,919 crore in FY25, positioning the state second after Maharashtra. A total of 50 companies listed on NSE Emerge and BSE SME platforms.

AHMEDABAD: Gujarat's small and medium enterprises (SMEs) are making waves in the IPO market, raking in a record Rs 1,919 crore in FY25—the highest ever for the state in a financial year.
Gujarat ranked second in SME IPO fundraising after Maharashtra, as more businesses tapped the stock market to fuel growth, boost brand value, and sharpen corporate governance.

A total of 31 Gujarat-based companies debuted on NSE Emerge, raising Rs 1,236 crore, while 19 firms listed on BSE SME pulled in Rs 683 crore. Nationwide, 241 companies raised Rs 9,811 crore through IPOs. Maharashtra led the pack with 71 SME listings, while Delhi ranked third with 36 SME IPOs.

Despite a slight dip in the number of IPOs compared to FY24, when 53 Gujarat-based SMEs raised Rs 1,609 crore, the total funds raised in FY25 hit an all-time high for the state in FY25.
A senior official from BSE SME said, "SMEs are the backbone of the economy, driving innovation, jobs, and growth. We expect a surge in listings as our platform connects businesses with investors, fuelling success."
Gunjan Choksi, director of a stockbroking firm, added, "Maharashtra and Gujarat are SME powerhouses, with strong market awareness. More Gujarat-based SMEs are choosing IPOs, as listed firms enjoy faster growth, stronger governance, and greater visibility. But investors must do their homework—while IPOs open doors, some companies have faced post-listing controversies."

KEY HIGHLIGHTS

Gujarat's small and medium enterprises raised a record Rs 1,919 crore through Initial Public Offerings in the financial year 2025, marking the highest amount ever for the state.
With 31 companies debuting on the National Stock Exchange Emerge and 19 firms on the Bombay Stock Exchange SME, Gujarat ranked second in SME IPO fundraising, following Maharashtra.
Despite a decrease in the number of IPOs compared to the previous year, the total funds raised by Gujarat-based SMEs reached an all-time high, indicating a growing trend towards stock market listings for business growth and governance.

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