Three SME IPOs — Vivekanand Cotspin, FX Multitech and Robokidz Eduventures — are set to make their stock-market debut on September 28, 2026. All three companies will list their shares on the BSE SME platform.

Together, the three IPOs sought to raise around Rs 98.53 crore from investors. Among them, Vivekanand Cotspin raised Rs 22.20 crore, FX Multitech raised Rs 45.24 crore, while Robokidz Eduventures raised Rs 31.09 crore.

Investor response varied significantly across the three issues. Robokidz Eduventures IPO was subscribed a staggering 833.56 times, while FX Multitech IPO was subscribed 17.72 times and Vivekanand Cotspin IPO received 1.79 times subscription.

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The Vivekanand Cotspin IPO is a Rs 22.20-crore book-built issue comprising an entirely fresh issue of 60 lakh shares. The IPO opened for subscription on September 21 and closed on September 23, 2026. The allotment was finalised on September 24, with the shares scheduled to list on the BSE SME platform on September 28.

The issue was subscribed 1.79 times overall. The individual investors' portion was subscribed 1.82 times, while the QIB (Ex Anchor) category received 1.26 times subscription. The NII category was subscribed 2.41 times.

The company had fixed the price band at Rs 32–Rs 37 per share, with a lot size of 3,000 shares. At the upper end of the price band, retail investors were required to apply for a minimum of 6,000 shares, involving an investment of Rs 2.22 lakh.

Swastika Investmart Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar to the issue.

Vivekanand Cotspin plans to deploy the net IPO proceeds primarily towards capital expenditure and working capital requirements. The company has earmarked Rs 5.27 crore for installing additional plant and machinery and Rs 11 crore towards working capital requirements. The remaining proceeds will be used for general corporate purposes. The total estimated utilisation of the net proceeds is Rs 16.27 crore.

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The FX Multitech IPO is a Rs 45.24-crore book-built issue comprising a fresh issue of 35.52 lakh shares worth Rs 41.20 crore and an offer for sale (OFS) of 3.48 lakh shares worth Rs 4.04 crore.

The IPO opened on September 21 and closed on September 23, 2026. The allotment was finalised on September 24, and the shares are scheduled to debut on the BSE SME platform on September 28.

The issue was subscribed 17.72 times overall. The individual investors' category was subscribed 12.31 times, while the QIB (Ex Anchor) and NII portions received 20.95 times and 25.98 times subscription, respectively.

FX Multitech had fixed the price band at Rs 110–Rs 116 per share, with a lot size of 1,200 shares. At the upper price band, retail investors needed to apply for at least 2,400 shares, requiring an investment of Rs 2.78 lakh.

Oneview Corporate Advisors Pvt. Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar to the issue.

The company plans to use the net IPO proceeds primarily to reduce its debt and strengthen its operations. It has earmarked Rs 10 crore for the repayment or pre-payment of certain borrowings. Another Rs 6.26 crore will be invested in its subsidiary, Everestt Chillers Pvt. Ltd., for the purchase of machinery. The company has allocated Rs 14.83 crore towards working capital requirements, with the remaining proceeds to be used for general corporate purposes. The total estimated utilisation of the net proceeds stands at Rs 31.09 crore.

The Robokidz Eduventures IPO is a Rs 31.09-crore book-built issue comprising an entirely fresh issue of 29.33 lakh shares. The IPO opened for subscription on September 21 and closed on September 23, 2026.

The allotment was finalised on September 24, with the shares scheduled to debut on the BSE SME platform on September 28.

The issue witnessed an exceptionally strong response, with the IPO subscribed 833.56 times overall. The individual investors' category was subscribed 807.12 times, while the QIB (Ex Anchor) portion received 306.73 times subscription. The NII category saw the highest demand at 1,593 times.

The company had fixed the price band at Rs 100–Rs 106 per share, with a lot size of 1,200 shares. At the upper end of the price band, retail investors were required to apply for a minimum of 2,400 shares, involving an investment of Rs 2.54 lakh.

GYR Capital Advisors Pvt. Ltd. is the book-running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar to the issue.

Robokidz Eduventures plans to utilise the net IPO proceeds primarily to fund its working capital requirements. The company has earmarked Rs 23.46 crore towards working capital. A further Rs 2.20 crore will be used for the repayment or pre-payment of certain outstanding borrowings, either in full or in part. The remaining proceeds will be deployed towards general corporate purposes. The total estimated utilisation of the net IPO proceeds stands at Rs 25.66 crore.

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