In 2025, the Indian SME IPO segment witnessed a strong surge, with many offerings generating exceptional investor gains. Out of the 109 SME listings so far this calendar year, 12 companies have emerged as true multibaggers — each delivering 100% or more returns since their debut. What makes these IPOs stand out isn't just their strong listing day gains, but their sustained rally in the months that followed. Some of them have more than tripled, turning early investors into big gainers. Let’s explore the top SME IPO success stories of CY25.

In CY25, surged 399% to Rs 424 from an issue price of Rs 85.

In CY25, gained 230%, rising to Rs 471 from the issue price of Rs 143.

In CY25, delivered a 192% rally, moving from Rs 99 to Rs 289.

In CY25, advanced 167%, climbing to Rs 123 from Rs 46.

In CY25, jumped 155%, scaling up from Rs 140 to Rs 358.

In CY25, registered 153% returns, soaring from Rs 250 to Rs 632.

In CY25, rose 130%, reaching Rs 186 from Rs 81.

In CY25, matched that with a 130% gain, from Rs 191 to Rs 439.

In CY25, delivered 109% returns, up from Rs 47 to Rs 98.

In CY25, gained 105%, moving from Rs 102 to Rs 209.

In CY25, doubled investors’ money with a 102% rally, from Rs 120 to Rs 243.

In CY25, also doubled with 100% returns, rising from Rs 70 to Rs 140.

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