Top 5 SME IPOs in India (2025) That Turned Into Multibaggers
The year 2025 is shaping up to be a landmark year for Indian equity markets—especially in the SME IPO segment. With more than 150+ small and medium enterprises (SMEs) launching their public offerings on BSE SME and NSE Emerge platforms, investors have witnessed some jaw-dropping multibagger returns in just weeks of listing.
In this article, we break down the top 5 SME IPOs of 2025 that have delivered 150% to 400% returns in a short span. Whether you're a retail investor, trader, or long-term wealth builder, these listings deserve your attention.
Why SME IPOs Are in the Spotlight in 2025
-
Over 4,000rs crore has been raised through SME IPOs in the first half of 2025 alone.
-
SEBI’s tighter regulations and increased transparency have boosted investor confidence.
-
Retail participation in SME IPOs has grown by over 70% compared to 2024.
SME IPOs are risky but offer explosive potential when backed by strong fundamentals, niche sectors, and positive grey market sentiment.
Top 5 Multibagger SME IPOs in 2025
| Rank | Company Name | Issue Price | Current Price | Return (%) | Sector |
|---|---|---|---|---|---|
| 1 | Fabtech Technologies | 85rs | 425 | 400% | Cleanroom Engineering |
| 2 | Monolithisch India | 143rs | 472 | 230% | Manufacturing |
| 3 | Srigee DLM | 99rs | 289 | 192% | Electrical Components |
| 4 | Indobell Insulation | 46rs | 123 | 167% | Industrial Materials |
| 5 | Tankup Engineers | 140rs | 357 | 155% | Oil & Gas Equipment |
In-Depth Look at the Winners
1. Fabtech Technologies
Specializing in cleanroom and containment solutions for pharma and biotech industries, Fabtech's stellar order book and export contracts boosted investor sentiment. The stock listed with a 160% premium and continued to soar on strong quarterly results.
2. Monolithisch India
This advanced manufacturing player saw massive oversubscription (230x) and delivered strong earnings growth. With upcoming CapEx plans, it remains a stock to watch.
3. Srigee DLM
Focused on electrical modules and wiring systems, the company is riding on the back of rising demand from the auto and industrial sectors.
4. Indobell Insulation
A niche SME serving thermal insulation in high-growth industrial segments like steel and cement. Backed by robust margins and debt-free balance sheet.
5. Tankup Engineers
An oil and gas infrastructure company, Tankup has benefitted from rising global demand and import substitution trends.
Why These IPOs Delivered Multibagger Returns
-
Strong Promoter Background: All five companies have industry veterans at the helm.
-
Healthy Financials: Revenue growth >30%, and profit CAGR >25% in most.
-
Sector Tailwinds: Industrial revival, manufacturing push, and capex boom.
-
Grey Market Premium (GMP): All these IPOs had GMPs over ₹100 even before listing.
How to Identify Future SME Multibaggers
Before investing in any SME IPO:
🧠 Tip: Avoid IPOs with high valuations and no institutional participation.
Expert Opinion
Market analysts suggest that SME IPOs, though volatile, offer retail investors a unique window into India’s next generation of wealth creators—provided the due diligence is strong. With more structured reporting and audit norms introduced by SEBI in 2025, this segment is becoming safer than ever before.
Frequently Asked Questions (FAQ)
Q1. What are SME IPOs?
SME IPOs are initial public offerings launched by Small and Medium Enterprises, typically listed on BSE SME or NSE Emerge platforms. These companies are smaller in size but can grow rapidly post listing.
Q2. Are SME IPOs risky?
Yes. They are high-risk, high-return instruments. Liquidity is lower compared to mainboard stocks, and many can fall sharply after listing if fundamentals are weak.
Q3. Can I apply via Zerodha or Groww?
Yes, both support SME IPO applications. Ensure your broker allows bidding in the SME category and you have UPI enabled.
Q4. What are the taxes on SME IPO gains?
Profits made within 1 year are taxed as short-term capital gains at 15%. Gains after 1 year are taxed at 10% if above 1 lakh.
Conclusion
SME IPOs in 2025 are no longer a side show—they're turning into serious wealth creators. While not every IPO is a winner, the ones backed by solid business models, clear earnings visibility, and growth sectors have delivered multibagger gains in just months.
If you’re willing to take calculated risks, do thorough research, and stay updated on upcoming SME IPOs, this segment might just offer your next big win in the Indian stock market.
Please do not enter any spam link in the comment box.