New Delhi, June 19 -- The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have announced an overhaul in the bidding process for Small and Medium Enterprises (SME) initial public offerings (IPOs). The new process, aimed at standardizing and streamlining SME IPO participation, will come into effect from July 1, 2025.

As per the circulars issued by the stock exchanges, both the current and the new processes will remain operational for all SME IPOs opening on or before June 30, 2025. In case of spillover, the dual system will be permitted until July 11, 2025. Thereafter, the new bidding mechanism will be mandatorily applicable to all SME IPOs.

Here are the key changes under the new process for the SME IPOs:

The 'Retail Indivi...