Five most overbought SME IPOs of 2024 see 1100x demand amid frenzy

Bets exceed Rs 65,000 crore even as these firms looked to raise a cumulative Rs 60 crore

The IPOs by small and medium enterprises (SMEs) are witnessing an unprecedented frenzy, with investors clamouring to get a piece of the action. The numbers tell the story—the five most overbought SME share sales of the year have seen cumulative bids exceeding Rs 65,000 crore—over 1100x the Rs 59.3 crore these companies were aiming to raise.

The 10 most subscribed SME IPOs of all time have seen subscriptions ranging from 733 times to a staggering 2,014 times. Remarkably, all of these have taken place between December and now.

The smallest first-day gain was 35 per cent (Magenta),