New Delhi: Fund raising by small and medium enterprises (SMEs) from initial public offerings more than doubled to Rs 384 crore in the April-September period of 2016-17 from the year-ago period. In comparison, 27 SMEs raised Rs 182 crore in the first half of the preceding financial year, 2015-16. "Indian primary market has witnessed spectacular revival in last few months, which is not limited to large IPOs like Mahanagar Gas, Quess Corp and ICICI Prudential. Public share sales of smaller companies on the dedicated SME boards of stock exchanges, too, have been on a hot streak," Pantomath Group managing director Mahavir Lunawat said. A total of 41 firms have hit the capital markets to raise funds through the SME platform in the ongoing financial year (2016-17). Of these, 24 IPOs opened for public subscription last month alone.