Sumax Engineering to list on NSE SME after ₹53.40cr IPO
Sumax Engineering Ltd. is stepping onto the NSE's SME platform on Wednesday, September 2, 2026 after a blockbuster IPO that raised ₹53.40 crore.
The offering was oversubscribed 162.94 times overall, with noninstitutional investors showing huge interest (270.70 times), followed by retail and institutional buyers.
If you're curious, retail investors needed to shell out ₹121,200 for a single lot of shares.
Sumax earmarks ₹33.51cr, 22% gray premium
The money from the IPO will help Sumax expand its manufacturing units in Rajasthan and Haryana, plus boost working capital and other corporate needs: ₹33.51 crore is already earmarked for these plans.
Before listing, anchor investors pitched in ₹14.50 crore, which is a solid vote of confidence.
The stock is expected to debut at a 22% premium in the gray market today, hinting at a strong start for Sumax on the SME stage.