NSE Emerge Market Value Crosses ₹2 Lakh Crore Milestone

The NSE Emerge segment has crossed the ₹2 lakh crore market cap, indicating the increasing importance of the SME segment in India’s capital market ecosystem. According to the latest NSE Pulse report, 731 companies were listed on the exchange’s SME platform as of May 2026, with a combined market value of about ₹2.3 lakh crore.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

These companies have collectively mobilised close to ₹23,000 crore through public offerings. In comparison, the total market capitalisation of all listed companies in India stands at nearly ₹480 lakh crore.

The exchange said the platform has also facilitated the transition of several growing businesses to the mainboard. So far, 160 companies that began their journey on NSE Emerge have migrated to the primary exchange after achieving higher scale and market value.

Maharashtra, Gujarat, and Delhi Lead Fundraising

State-wise data showed that Maharashtra, Gujarat, and Delhi have remained the largest contributors to SME listings and capital raising activity.

Maharashtra accounted for 204 listed companies, which together raised ₹6,256 crore and commanded a combined market capitalisation of ₹51,059 crore. Gujarat followed with 182 companies that raised ₹4,846 crore. Companies from the state collectively hold the highest market value among all regions at ₹53,006 crore.

Delhi ranked third with 102 listed firms. These companies raised ₹3,745 crore and have a combined market capitalisation of ₹45,161 crore.

Together, the three regions contributed 488 companies to the platform and accounted for around ₹14,850 crore, or nearly 65%, of the total capital raised through SME IPOs since the launch of NSE Emerge.

Industrial Companies Dominate Capital Raising

Sector-wise, industrial companies emerged as the biggest contributors to fundraising activity during FY25 to FY27 year-to-date, accounting for around 39% of the capital raised on the platform.

Consumer discretionary companies represented 20% of total funds mobilised, followed by materials at 12%. Information technology firms contributed 10%, while healthcare and consumer staples accounted for 7% and 6%, respectively.

Financial services companies made up 3% of the capital raised. Communication services represented 2%, while utilities and energy companies each contributed 1%.

Mainboard Transition Gains Momentum

The exchange said the platform has increasingly served as an entry point for emerging businesses seeking access to public capital. A growing number of companies have subsequently shifted to the mainboard after expanding operations and improving scale.

Despite participation from multiple sectors, industrial and consumer-focused businesses continue to account for a large share of fundraising activity and investor interest on the SME platform, reflecting their prominence within the broader small and medium enterprise ecosystem.