The IPO of Exato Technologies has turned into one of the most talked-about SME issues of the year, thanks to unusually high investor interest and a sharp jump in its grey-market premium (GMP). The bidding for the IPO closed on Monday with extraordinary subscription numbers, showing strong appetite from retail and small investors.
By the final day, the IPO was subscribed over 700 times, making it one of the most oversubscribed SME offerings in recent months. Most of the buying came from retail and non-institutional investors, while institutional participation remained comparatively lower. Such a high subscription level suggests strong confidence in the company’s business and future prospects.
Along with this demand, the grey-market premium also climbed steadily. As of the closing day, unofficial market reports showed a GMP of around ₹150 above the upper IPO price, indicating a possible 100%+ listing gain. This means that if the trend holds, the stock may list at nearly double the issue price.
Exato Technologies had set its price band at ₹133–₹140 per share, with the minimum application size being 2,000 shares, making the smallest investment roughly ₹2.8 lakh. The IPO size is ₹37.45 crore, including a fresh issue as well as an offer for sale by existing shareholders.
The company has announced that the allotment of shares will likely be finalised on December 3, with refunds and demat credits expected on December 4. The shares are scheduled to list on the BSE SME platform on December 5, 2025.
Founded in 2016, Exato Technologies offers technology and customer-experience solutions to businesses across banking, healthcare, retail, telecom, BPO and other sectors. It sells a mix of digital products and services, including analytics tools, communication solutions, and automation platforms. Some of its well-known clients include MakeMyTrip, RBL Bank, and WNS.
The company plans to use a part of the IPO money to strengthen working capital, invest in product upgrades, and reduce certain borrowings.
Given the extremely high subscription and strong GMP, market watchers expect the stock to list with sizable gains. Investors who applied for the IPO will be eagerly waiting for the allotment outcome.
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