Cost guide · SME IPO
SME IPO Cost in India
What does an SME IPO cost in India? Detailed breakdown of merchant banker fees, legal, audit, exchange, RTA, market-maker, marketing — for BSE SME and NSE Emerge listings.
Cost breakdown
What it costs.
All cost heads — government, regulatory, advisory and ancillary. Transparent, with typical ranges.
- Merchant Banker / Lead Manager fees: ₹15–60 lakh (largest single cost)
- Legal counsel (DRHP, due diligence, drafting): ₹6–15 lakh
- Statutory auditor sign-off & restatement: ₹3–10 lakh (incremental over regular audit)
- RTA (Registrar & Transfer Agent): ₹2–5 lakh setup + per-share processing
- Peer reviewer's certification: ₹1–3 lakh
- Market maker fees: 0.5–1.5% of issue size or annual fee
- Exchange listing fees (BSE SME or NSE Emerge): ₹50,000–₹2 lakh + annual fees
- SEBI fees (if Main Board route): scaled by issue size
- Underwriting commission: 0.5–2% of underwritten portion
- Marketing & roadshows: ₹3–15 lakh (anchor meetings, retail outreach)
- Printing, dispatching, publicity: ₹2–5 lakh
- Brokerage on bids: 0.5–1% of issue size (managed by lead manager)
- TOTAL TYPICAL RANGE for SME IPO (issue size ₹10–50 crore): ₹40 lakh – ₹1.5 crore
- TOTAL TYPICAL RANGE for Main Board IPO (issue size ₹100–500 crore): ₹2 crore – ₹15 crore+