SME Market Sees Divergent Debuts as Kheria Autocomp and SpectraA Technology List Two new entrants to the small and medium enterprise (SME) market, Kheria Autocomp and Sp...
Two new entrants to the small and medium enterprise (SME) market, Kheria Autocomp and SpectraA Technology Solutions, are set to list today, offering a stark illustration of selective investor appetite. While the auto components maker attracted overwhelming demand, the industrial automation firm received a more muted reception.
Kheria Autocomp is preparing for its debut on the NSE SME platform following a highly successful initial public offering. The issue, priced at ₹73 per share, was oversubscribed by more than 166 times, signaling intense investor interest. The company, which manufactures components for original equipment manufacturers (OEMs) and Tier 1 suppliers, raised ₹8.34 crore through its offering. For the period ending in November 2023, Kheria Autocomp reported revenue of ₹18.06 crore and a net profit of ₹1.67 crore.
In contrast, SpectraA Technology Solutions is listing on the BSE SME platform after a comparatively modest IPO. The offering, priced at ₹61 per share, was subscribed just 2.45 times, raising a total of ₹6.04 crore. The company provides industrial automation and robotics solutions. For the period ending December 2023, SpectraA Technology reported revenue of ₹12.98 crore with a net profit of ₹1.14 crore.
Pre-listing market sentiment, measured by the Grey Market Premium (GMP), reinforces the divergent outlooks for the two companies. Kheria Autocomp commanded a GMP of ₹30, suggesting a potential listing premium of over 41% above its issue price. Conversely, SpectraA Technology Solutions had a GMP of zero, indicating the possibility of a flat or even discounted listing. This disparity highlights how heavily investors are weighing subscription levels and sector-specific interest ahead of SME market debuts.
The post-listing performance of these two companies will serve as a key indicator of market sentiment for their respective industries within the SME space. The strong reception for Kheria Autocomp underscores continued confidence in the automotive supply chain, while SpectraA Technology's debut will test the market's appetite for niche technology and automation players.
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