IPOs listed in May 2026: Mainboard & SME performance
May 2026 was a busy month for India's primary market, and 13 IPOs made their stock market debut, including mainboard and SME. As investors shift their focus to upcoming June IPOs, it is good to look back at the companies that listed last month.
Some delivered impressive gains on debut while others slipped below their issue price despite strong subscription numbers.
Here is a detailed look at how all these mainboard and SME IPOs performed on listing day and where their share prices stand today.
Mainboard IPOs listed in May 2026
The mainboard segment saw 2 listings in May 2026, which are OnEMI Technology Solutions and Bagmane Prime Office REIT. Let's take a look at how these issues performed after making their stock market debut.
OnEMI Technology Solutions or Kissht
It was founded in 2016 and operates as India's popular digital lending platform Kissht, and payments app Ring. They have raised ₹925.92 Cr through a mix of a fresh issue of ₹850 Cr and OFS ₹75.92 Cr.
OnEMI Technology Solutions IPO performance snapshot
- Issue Size: ₹925.92 crore
- Issue Price: ₹171 per share
- Overall Subscription: 7.27 times
- Listing Date: May 8, 2026
- Listing Price: ₹190 per share, 11.1% premium
- CMP as of June 1, 2026: ₹262.80 per share
Bagmane Prime Office REIT
Bagmane Prime Office REIT owns 6 premium office parks in Bengaluru and leases to major global companies, including Google, Amazon, Nvidia and Samsung. REIT manages a total office portfolio of 20.3 million sq ft across the city as of June 30, 2025.
Bagmane Prime Office REIT performance snapshot
- Issue Size: ₹3405 crore
- Issue Price: ₹100 per share
- Overall Subscription: 10.64 times
- Listing Date: May 14, 2026
- Listing Price: ₹103.40 per unit, 3.5% premium
- CMP as of June 1, 2026: ₹103.50 per share
SME IPOs listed in May 2026
The SME segment was where most of the action happened in May 2026, where 11 companies were listed on the BSE SME & NSE SME platforms. Investor response varied across issues, while some IPO delivering strong listing gains and others slipped below their issue price soon after debut.
Here is a consolidated table of all SME IPOs listed in May 2026
Overview of all SME IPOs listed in May 2026
Here's a consolidated overview of all SME IPOs that made their stock market debut in May 2026.
Amba Auto Sales & Services
The company is an authorised dealer of Bajaj Auto and LG Electronics, operating under the brands Amba Bajaj and Amba LG Best Shop. The company sells and services two-wheelers, three-wheelers and consumer electronics through a network of 29 showrooms and service centres across Bengaluru.
Amba Auto stock debuted at ₹134.50 on May 5, 2026. However, it later saw selling pressure and is trading at ₹78.40 as of June 1, 2026.
Value 360 Communications
A New Delhi based PR and communications company named value 360 communications offering Investor Relations, Crisis Communication, Reputation Management and Digital PR solutions. Listed at ₹78.40 on May 11, 2026 and is trading at ₹72 per share as of June 1, 2026, reflecting selling pressure after listing.
Recode Studios
A Ludhiana-based beauty and personal care brand was incorporated in 2021. Recode Studios was listed at ₹213.10 on May 12, 2026, and currently, as of 1 June, is trading at ₹200.
Simca Advertising
Incorporated in June 2022, provides Out of Home advertising solutions, hoardings, gantries, bus panels, LED screens and vinyl signage in Mumbai and Maharashtra. Made its stock market debut on 15 May at ₹156 per share. As of 1 June, its stock price is trading at 147.75
Goldline Pharmaceutical
Simca advertising is a Nagpur based asset light pharma marketing company with five product segments, Goldline Pharma, Cardinal, Aayushman, InLife and Wellness. The company debuted at ₹59.75 on May 19, 2026. After listing, saw selling pressure and is trading at ₹46.03 as of June 1, 2026.
RFBL Flexi Pack
It was incorporated in 2005 and is based in Gujarat, manufactures and trades printed multilayer flexible packaging materials. RFBL flexi pack debuted at ₹52.50 on May 19, 2026. And as of 1 June, trading at ₹60.20.
NFP Sampoorna Foods
It is a dry fruits company that imports and sells products such as cashew nuts, almonds and makhana through retail stores and online platforms. NFP sampoorma foods debuted at ₹54.50 per share on May 25, 2026, but later saw selling pressure and is trading at ₹44.50 per share as of June 1, 2026.
Teamtech Formwork Solutions
They are based in Telangana, manufacture, refurbish, and rent modular formwork systems for construction projects. Its stock debuted at ₹75 per share on May 26, 2026 and is trading at ₹71.30 per share as of June 1, 2026.
Vegorama Punjabi Angithi
An operator of North Indian quick service restaurants and cloud kitchens. Teamtech formwork solutions debuted at ₹118.10 per share on May 27, 2026 and currently, as of 1 June, trading at ₹123.10 per share.
Bio Medica Laboratories
They manufacture injectable pharmaceutical products for human and animal healthcare with a portfolio of liquid and dry powder injectables. Bio medica laboratories debuted on the stock market at ₹111.20 per share on May 29, 2026 and currently, as of 1 June, trading at ₹110.5 per share
Q-Line Biotech
Q-line biotech operates in the healthcare industry and was listed on 29 May at a premium at ₹452. As of 1 June, it was trading around ₹470 per share.
Autofurnish
Manufactures automobile accessories for 2-wheelers and 4-wheelers. Autofurnish debuted on the stock market at ₹43 per share on May 29, 2026 and currently, as of 1 June, trading at ₹46.95 per share
Final thoughts
May 2026 was a mixed month for IPO investors, where mainboard IPOs such as Bagmane REIT and OnEMI Technology delivered strong returns and attracted investor interest, while the SME segment saw mixed performance.
Some SME IPOs, including Recode Studios and Goldline Pharmaceutical, rewarded investors with strong listing gains. And, stocks like Simca Advertising and Bio Medica Laboratories listed below their issue price despite healthy subscription demand. Before investing in any IPO, it is important to evaluate the company's financial performance, business model, valuation and long-term growth prospects.
