The SME IPO segment witnessed fresh activity on July 27, 2026, with two new public issues opening for subscription: the BSE SME Advance Technoforge IPO and the NSE SME Propshop Events & Exhibitions IPO. Both companies are raising funds through the SME platforms, providing investors an opportunity to participate in businesses operating in the manufacturing and event solutions sectors. However, on the opening day, both IPOs received a muted response, with subscription levels remaining below 1% so far.Advance Technoforge IPO Opens on BSE SMEThe Advance Technoforge IPO is a fixed-price issue worth Rs 24.03 crore and opened for subscription today. The issue is entirely a fresh issue comprising 25 lakh shares aggregating to Rs 24.03 crore.The IPO will remain open for bidding from July 27, 2026, to July 29, 2026. The allotment is expected to be finalized on July 30, 2026, while the shares are likely to list on the BSE SME platform on August 3, 2026.The company has fixed the issue price at Rs 95 per share. Investors can apply for a minimum lot size of 1,200 shares. Retail investors need to invest a minimum of Rs 2,28,000 for 2,400 shares (based on the upper price).Sun Capital Advisory Services Pvt. Ltd. is acting as the book running lead manager for the issue, while Kfin Technologies Ltd. is the registrar.Established in 2013, Advance Technoforge Limited (ATL) manufactures and supplies forged and precision-machined components with specialized coatings and treatments. The company caters to multiple industries, including automotive, valves, pumps, construction, oil and gas, railway, and earth-moving equipment sectors.With over two decades of industry experience, ATL manufactures products supplied to global original equipment manufacturers (OEMs) across various industrial segments.The company plans to utilize the IPO proceeds of Rs 24.03 crore primarily towards business expansion and financial strengthening. Around Rs 7.19 crore will be allocated for the purchase and installation of machinery for manufacturing precision machine components, while Rs 7.25 crore will be used to meet working capital requirements. The company will also utilize Rs 2.40 crore for repayment/prepayment of borrowings, Rs 3.59 crore for general corporate purposes, and Rs 3.60 crore towards issue-related expenses.The grey market premium (GMP) for Advance Technoforge SME IPO stands at around 9.47%, or Rs 9 per share over the upper price band of Rs 95. Based on the current GMP trend, the estimated listing price is around Rs 104 per share.Propshop Events & Exhibitions IPO Begins Bidding on NSE SMEThe second SME offering opening today is the Propshop Events & Exhibitions IPO, a book-built issue worth Rs 28.57 crore. The issue consists of a combination of a fresh issue of 33 lakh shares worth Rs 23.05 crore and an offer for sale (OFS) of 0.08 crore shares aggregating to Rs 5.52 crore.The IPO subscription window will remain open from July 27, 2026, to July 29, 2026. The basis of allotment is expected to be finalized on July 30, 2026, and the company is scheduled to make its NSE SME debut on August 3, 2026.The issue price band has been set at Rs 65 to Rs 69 per share. The minimum application size is 2,000 shares. Retail investors need to apply for at least 4,000 shares, requiring an investment of Rs 2,76,000 at the upper price band. Unistone Capital Pvt. Ltd. is the book running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar for the issue.Propshop Events & Exhibitions incorporated in August 2019, Propshop Events and Exhibitions Limited provides exhibition and trade show solutions, specializing in designing, managing, and executing customized exhibition booths for domestic and international events.The company offers complete event execution services, including concept development, 3D visualization, project management, fabrication, logistics, installation, on-site supervision, and dismantling after events. It serves clients across a wide range of industries.The primary objective of the IPO is to support the company’s working capital requirements, with Rs 16.62 crore earmarked for this purpose.SME IPO investors keep watch on subscription trendsWith two SME IPOs opening simultaneously, market participants will closely track subscription numbers, investor demand, and grey market activity over the next few days. Advance Technoforge brings an opportunity in precision manufacturing, while Propshop Events & Exhibitions offers exposure to the growing exhibition and trade show services sector.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)