The Acme India Industries SME IPO is one of the SME issues opening for subscription in the Indian primary market in September 2026. The company operates in the railway rolling stock sector and focuses on the design, manufacturing and maintenance of railway coach interiors.
The IPO is scheduled to open on 30 September 2026 and close on 6 October 2026. The company plans to raise around ₹121.69 crore through a combination of a fresh issue and an offer for sale. The shares are proposed to be listed on the BSE SME platform.
Investors looking for information about the Upcoming IPO in India can use newipo.info to follow IPO dates, price bands, GMP updates, allotment information and other important details.
Acme India Industries SME IPO – Key Details
| Particular | Details |
|---|---|
| Company Name | Acme India Industries Limited |
| IPO Type | SME IPO |
| IPO Opening Date | 30 September 2026 |
| IPO Closing Date | 6 October 2026 |
| Price Band | ₹186 – ₹196 per share |
| Face Value | ₹10 per share |
| Lot Size | 600 shares |
| Issue Size | Up to ₹121.69 crore |
| Fresh Issue | Up to ₹105.98 crore |
| Offer for Sale | Up to ₹15.71 crore |
| Listing Exchange | BSE SME |
| Tentative Listing Date | 9 October 2026 |
| Registrar | Bigshare Services Pvt. Ltd. |
| Lead Manager | Hem Securities Limited |
The above details are based on current IPO documents and market listings; IPO schedules can change, so investors should check the latest exchange/company information before applying.
Key Performance Indicators (KPI)
| KPI | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| RONW | 23.52% | 29.72% | 53.91% |
| ROCE | 23.20% | 24.03% | 30.08% |
| EPS (Basic) | 14.10 | 9.91 | 11.68 |
| P/E Pre IPO | 13.90 | ||
| P/E Post IPO | 18.89 |
Company Financial (In ₹Crore)
| Period Ended | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Assets | 382.79 | 272.45 | 217.60 |
| Total Income | 267.89 | 213.45 | 215.02 |
| Profit After Tax | 24.36 | 16.46 | 19.21 |
| EBITDA | 39.82 | 28.76 | 29.57 |
| NET Worth | 103.55 | 55.37 | 35.63 |
| Reserves and Surplus | 85.48 | 38.58 | 27.35 |
| Total Borrowing | 85.18 | 81.17 | 69.80 |
COMPARISON WITH INDUSTRY PEERS
*Company does not have any peer group company for comparison with Industry Peer.
About Company
Incorporated on December 22, 2021, Acme India Industries Limited operates in the Indian railway rolling stock sector, designing, manufacturing and maintaining (under warranty) interiors for railway coaches. It took over the running business of the promoter's proprietorship, Acme India, which began in 2012, and wins most of its work through railway tenders.
Business Segments
- Turnkey furnishing of new coaches, including LHB variants and self-propelled units, at MCF Raebareli, ICF Chennai and RCF Kapurthala, with 1,610 coaches delivered across 28 projects since 2017.
- Refurbishment and upgradation of LHB and ICF coaches, with 1,888 coaches completed as of June 30, 2026.
- Toilet upgradation in railway coaches, with 10,948 units completed as of the date of the RHP.
- Component supply, including braille signage, FRP products, aluminium polymer composite sanitary ware, epoxy flooring, doors, and seats and berths.
The company has a manufacturing unit at Sonipat, Haryana, covering over 92,000 sq. ft. with in-house laboratory and testing equipment. It holds ISO 9001:2015 and ISO 15085 certifications, works across 16 railway zones and has three subsidiaries.
As of June 30, 2026, its order book stood at ₹73,797.33 lakhs across 40 orders, with toilet upgradation accounting for 46.92%. The company aims to broaden its product portfolio, enter the coach repair segment and add technology offerings such as CCTV surveillance for coaches and locomotives.
Strengths
Established Presence in Railway Sector: Since 2017, the company and its predecessor proprietorship have furnished 1,610 new coaches on a turnkey basis, refurbished or upgraded 1,888 coaches and upgraded 10,948 toilet units. Its work covers 28 coach variants across 3 production units, 2 mid-life rehabilitation units and 16 railway zones.
Healthy Order Book: As of June 30, 2026, the order book stood at ₹73,797.33 lakhs across 40 orders. Toilet upgradation formed the largest share at 46.92%, followed by supply to private clients at 31.04%, with the balance spread across refurbishment, turnkey furnishing and supply to Indian Railways.
Experienced Promoters and Board: Promoter Suraj Pandey has 16 years of industry experience and Sadhvi Pandey has 10 years. The board includes Dilip Kumar Agarwal and Lakshmi Raman, each with 42 years at Indian Railways, and Devdutt Gajanan Salpekar with 38 years at NTPC, all from engineering backgrounds.
Risk Factors
Dependence on Indian Railways: The business depends on Indian Railways and Ministry of Railways policy. Revenue from Indian Railways was ₹12,306.45 lakhs, ₹19,222.62 lakhs and ₹18,542.42 lakhs in FY2026, FY2025 and FY2024, or 46.77%, 91.54% and 88.00% of total revenue. Policy changes could lead to contracts being foreclosed, terminated or renegotiated.
Tender-Based Order Wins: Railway projects are awarded through competitive tenders with pre-qualification criteria and largely price-based selection. Although the order book stood at ₹73,797.33 lakhs as of June 30, 2026, there is no assurance that future bids will succeed, and new entrants bidding at lower margins may win contracts.
Outstanding Legal Proceedings: The company, its promoters and directors face pending proceedings, including 2 criminal cases against the company involving ₹183.58 lakhs and 6 direct tax matters involving ₹1,469.14 lakhs. Adverse outcomes could affect cash flows and profits and divert management attention..
What is the Acme India Industries IPO Price?
The price band for the IPO has been fixed at ₹186 to ₹196 per equity share. The face value of each share is ₹10.
The IPO lot size is 600 shares. At the upper price of ₹196, one lot represents an application value of ₹1,17,600. However, SME IPO application requirements can differ by investor category, and current exchange/issue rules should be checked before submitting an application.
Acme India Industries IPO Issue Size
The total issue size is around ₹121.69 crore.
The offer consists of a fresh issue as well as an offer for sale. According to the available issue details, the fresh issue comprises up to 54,07,200 equity shares, while up to 8,01,600 shares are being offered through the OFS portion.
The fresh issue proceeds are intended for business requirements such as working capital, repayment or pre-payment of borrowings, purchase of additional plant and machinery and general corporate purposes.
Acme India Industries IPO GMP
The Grey Market Premium (GMP) is an unofficial indicator that can change frequently before an IPO listing.
Some market-tracking websites have recently reported GMP figures for Acme India Industries, while other sources have reported no active GMP. This difference shows why GMP should not be treated as an assured listing-price indicator.
GMP is not regulated by the stock exchanges and can change according to market sentiment, demand and other factors. Investors should therefore look at the company's financials, business model, valuation and IPO documents rather than relying only on GMP.
For the latest IPO GMP Today, investors can monitor updated market information on newipo.info.
Acme India Industries IPO Timeline
The IPO is scheduled according to the following timeline:
- IPO Opens: 30 September 2026
- IPO Closes: 6 October 2026
- Allotment: 7 October 2026
- Refund/Unblocking: 8 October 2026
- Share Credit: 8 October 2026
- Listing: 9 October 2026
IPO schedules are tentative and may be revised by the company or exchange.
Strengths of Acme India Industries
One of the important points about Acme India Industries is its presence in a specialised railway-related segment. Railway infrastructure and rolling-stock requirements create opportunities for companies supplying products and services to this industry.
The company also intends to use part of the IPO proceeds for working capital and capital expenditure. Additional plant and machinery could support its operational requirements and future business plans.
However, investors should also consider the risks mentioned in the company's offer documents before making an investment decision.
Things Investors Should Consider
SME IPOs can have different characteristics from mainboard IPOs. Investors should carefully study the company's financial performance, debt position, cash flows, valuation and future plans.
Another important factor is liquidity after listing. SME stocks can sometimes have lower trading volumes compared with larger listed companies.
Investors should also remember that the GMP is unofficial and does not guarantee the actual listing price. Market conditions can change between the IPO closing date and listing day.
How to Check Acme India Industries IPO Allotment
After the allotment process is completed, investors can check their allotment status through the IPO registrar and relevant exchange facilities.
For this issue, Bigshare Services Pvt. Ltd. is listed as the registrar. The expected allotment date is 7 October 2026.
Investors can also keep an eye on newipo.info for IPO allotment updates and other information.
Final Thoughts
The Acme India Industries SME IPO 2026 is focused on a specialised railway coach interiors business and comes with a price band of ₹186–₹196 per share. The issue is scheduled from 30 September to 6 October 2026, with a proposed BSE SME listing on 9 October.
The company plans to use fresh IPO funds for working capital, debt-related requirements, machinery purchases and general corporate purposes. Investors should read the company's official IPO documents carefully and consider both opportunities and risks before making any investment decision.
For regular updates on Upcoming IPO in India, SME IPO List, IPO GMP Today, allotment status and Open IPO Today, readers can follow newipo.info.