From zero to Rs 60k crore in a decade: Through SME IPOs, small businesses are raising big money

October 10, 2022, was a great day for Mayank Bindal. His telecom company, Steelman Telecom, went for an initial public offering (IPO) that day and saw phenomenal success. Bindal says they wanted to raise Rs 26 crore, but the issue was subscribed over 25 times.

Steelman Telecom had offered a share at Rs 96 but opened in the market at Rs 161. “Since then, the price has not dipped below 161. In fact, during the past two weeks, it has gone up to Rs