Till now, I have applied in ice make, focus suit, & hindcon chemical. All of them are doing good in this bearish market. In sme, if you are 100% convinced then otherwise stay away.
Check last day, last minute subscription. If those numbers are convicable then apply otherwise avoid.
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As an student of value investing, I suggest retail investors to apply only after selling to your broker or buy after listing at far lower price in comparison to issue price. However a good SME company, it should ideally price itself at half of PE Ratio and half of PBV of laggardest profit making peer on the main board.
Market sentiment is at weakest. When there was irrational exuberance for SMEs and people were short of idea to generate alpha return on main board, they began to flocked around SMEs. Now when Small cap and midcap companies on the mainboard have corrected meaningfully and there is further possibility of correction (NIFTY till 9600), these alpha return seekers have evaporated and LMs also have left retail investors high and dry. The trailer we have already seen in Sarveshwar, MMP is going to be full movie. Because here also issue size is bigger around Rs. 70 crore and pricing is high as well to spin and rinse (निचोड़) the retail investors. बाकि आपकी मर्जी क्युंकि पैसा आपका हैं.
https://infogram.com/wilful-defaults-borrowers-names-1g9vp11kv1zgp4y This is a list if wilfull defaulters running into thousands of names.In this, u will find there are hundreds of companies with some of them v big ones which came with ipos and also took bank loans and then vanished with total money.Therefore be v careful with your money and avoid small companies with doubtful track record .
Never invest in every tom dick and Harry SME IPO. Check their future prospects and business. Jhandeywalas in food business which is highly competitive so it was never investor rewarding IPO. Ang life science was in pharma sector were all blue chip pharma Stocks are struggling then how it will perform.
Have u checked focus suit and ice make. They have unique business and less competitive domain. So they are still rewarding investor despite of market bearish phase.