Delhi-based consumer electronics supplier Wiscon Industries closed its Rs 110 crore SME IPO on 29 October 2026 with an overall subscription of 1.15 times, in a split verdict from investors that is worth reading closely for startup funding in India beyond the venture market.
Institutions carried the issue
Qualified institutional buyers bid 2.24 times their reserved portion, while retail investors subscribed only 0.66 times and non-institutional investors 0.75 times of their quotas, according to Moneycontrol's subscription data. The issue, priced at Rs 194-204 per share with a lot size of 600 shares, comprised a fresh issue and an offer for sale by promoter Sidhant Dalmia, and had raised Rs 25 crore from anchor investors ahead of opening.
What happens next
The basis of allotment is scheduled for 30 October 2026, with shares expected to list on the BSE SME platform on 3 November 2026. Wiscon sells LED TVs, air coolers, washing machines and air conditioners under its flagship Wiscon brand to business and retail customers in India, and reported a net profit of Rs 20.4 crore on revenue of Rs 196.9 crore for the year ended March 2026. Smart Horizon Capital Advisors managed the issue.
Why it matters for founders
A 1.15x close is not a flop, but it is a warning: SME IPO demand in late October was selective, with institutions doing the heavy lifting while retail stayed cautious. Founders eyeing the SME route should note that a profitable, revenue-generating business still needs a convincing growth story to pull retail demand.