10 SME IPOs of 2026 That Doubled Investors' Wealth with Gains of Up to 434%: Did You Get That IPO?
India’s SME IPO segment has produced some striking performers in 2026, with a select group of newly listed stocks delivering returns of up to nearly 434 percent from their issue prices. Companies such as Apsis Aerocom, Grover Jewells, Millworks Technologies, INDO SMC and Vivid Electromech have witnessed sharp post-listing gains, reflecting strong investor interest in emerging businesses.
However, the broader SME IPO market has been mixed, with only a portion of new listings trading above their issue prices. This article looks at the newly listed SME stocks that have delivered exceptional returns in 2026, along with their businesses and stock performance, offering a closer look at what has driven their market performance. Here are a few newly listed SME stocks that have delivered a return of up to 434 percent in 2026
Apsis Aerocom Limited
With a market capitalization of Rs. 708.05 crore, the shares of Apsis Aerocom Limited were currently trading at Rs. 587.50 per equity share, rising nearly 2.75 percent from its previous day’s closing price of Rs. 571.80 per equity share.
Also read: Waterways Leisure Tourism: Can Wedding, Diwali and Holiday Demand Boost This Cruise Tourism Stock?
Apsis Aerocom Limited launched its IPO with a size of Rs. 35.77 crores. The IPO was an entirely fresh issue of 0.33 crore shares and was listed on the NSE SME on March 18, 2026.
Apsis Aerocom had an IPO with an issue price of Rs. 110. The stock closed on the listing date at a price of Rs. 160.65, which is 46.05 percent higher than the allotment price. Since its listing date, the stock is currently trading at Rs. 587.50 per share, which has delivered a return of 434.09 percent.
Apsis Aerocom Limited operates in the aerospace and healthcare manufacturing sector, providing high-precision mechanical components and end-to-end manufacturing solutions. The company is based in Bengaluru and focuses on producing precision-engineered components that can be integrated into larger aerospace and healthcare systems.
Grover Jewells Limited
With a market capitalization of Rs. 681.98 crore, the shares of Grover Jewells Limited were currently trading at Rs. 470.10 per equity share, rising nearly 4.97 percent from its previous day’s closing price of Rs. 447.85 per equity share.
Grover Jewells Limited launched its IPO with a size of Rs. 33.83 crores. The IPO was an entirely fresh issue of 0.38 crore shares and was listed on the NSE SME on February 11, 2026.
Grover Jewells had an IPO with an issue price of Rs. 88. The stock closed on the listing date at a price of Rs. 110.8, which is 25.91 percent higher than the allotment price. Since its listing date, the stock is currently trading at Rs. 470.10 per share, which delivered a return of 434.20 percent.
Grover Jewells Limited operates in the jewellery industry, with its business focused on the design, manufacturing, and sale of jewellery products. The company participates in a consumer-driven segment where brand positioning, product variety, craftsmanship and customer relationships are important competitive factors.
Tipco Engineering India Limited
With a market capitalization of Rs. 656.15 crore, the shares of Tipco Engineering India Limited were currently trading at Rs. 315.95 per equity share, down nearly 4.99 percent from its previous day’s closing price of Rs. 332.55 per equity share.
Tipco Engineering India Limited launched its IPO with a size of Rs. 60.55 crores. The IPO is a combination of a fresh issue of 0.54 crore shares worth Rs. 48.49 crores and an offer for sale of 0.14 crore shares worth Rs. 12.06 crores. The stock was listed on the BSE SME on April 1, 2026.
Tipco Engineering India had an IPO with an issue price of Rs. 89. The stock closed on the listing date at a price of Rs. 84.79, which is 4.73 percent lower than the allotment price. Since its listing date, the stock is currently trading at Rs. 315.95 per share, which delivered a return of 255 percent.
Tipco Engineering India Limited operates in the engineering and industrial manufacturing space, catering to customers requiring specialized equipment and engineering solutions. The company’s business is linked to industrial applications where product reliability, customization, and technical capabilities are important purchasing considerations.
Millworks Technologies Limited
With a market capitalization of Rs. 2,043.31 crore, the shares of Millworks Technologies Limited were currently trading at Rs. 1,160 per equity share, rising nearly 1.23 percent from its previous day’s closing price of Rs. 1,174.50 per equity share.
Millworks Technologies Limited launched its IPO with a size of Rs. 160.34 crores. The IPO was an entirely fresh issue of 0.48 crore shares and was listed on the BSE SME on July 21, 2026.
Also read: Chambal Fertilisers and 5 Other Agri Stocks in Focus as Govt Hikes MSP for Rabi Crops
Millworks Technologies had an IPO with an issue price of Rs. 331. The stock closed on the listing date at a price of Rs. 660.3, which is 99.49 percent higher than the allotment price. Since its listing date, the stock is currently trading at Rs. 1,160 per share, which delivered a return of 250.45 percent.
Millworks Technologies Limited is an engineering and technology-oriented company operating within the industrial ecosystem. Its business profile is associated with technology-driven manufacturing and engineering capabilities, where product quality, technical expertise, and execution are key factors.
INDO SMC Limited
With a market capitalization of Rs. 1,151.45 crore, the shares of INDO SMC Limited were currently trading at Rs. 503.80 per equity share, down nearly 0.47 percent from its previous day’s closing price of Rs. 506.20 per equity share.
INDO SMC Limited launched its IPO with a size of Rs. 91.95 crores. The IPO was an entirely fresh issue of 0.62 crore shares and was listed on the BSE SME on January 21, 2026.
INDO SMC had an IPO with an issue price of Rs. 149. The stock closed on the listing date at a price of Rs. 154.8, which is 3.89 percent higher than the allotment price. Since its listing date, the stock is currently trading at Rs. 503.80 per share, which delivered a return of 238.12 percent.
INDO SMC Limited is an Ahmedabad-based manufacturer of Sheet Moulding Compound (SMC), FRP/GRP and other composite products. Its portfolio includes SMC enclosures, electrical boxes, FRP gratings and pultruded products used across applications such as power distribution, infrastructure, solar, offshore, refineries and industrial facilities.
Vivid Electromech Limited
With a market capitalization of Rs. 1,554.39 crore, the shares of Vivid Electromech Limited were currently trading at Rs. 1,748.90 per equity share, rising nearly 1.03 percent from its previous day’s closing price of Rs. 1,731.00 per equity share.
Vivid Electromech Limited launched its IPO with a size of Rs. 130.54 crores. The IPO is a combination of a fresh issue of 0.19 crore shares worth Rs. 104.56 crores and an offer for sale of 0.05 crore shares worth Rs. 25.97 crores. The stock was listed on the NSE SME on April 7, 2026.
Vivid Electromech had an IPO with an issue price of Rs. 555. The stock closed on the listing date at a price of Rs. 563.05, which is 1.45 percent higher than the allotment price. Since its listing date, the stock is currently trading at Rs. 1,748.90 per share, which delivered a return of 215.12 percent.
Vivid Electromech Limited is an electrical equipment manufacturer with a presence spanning low-voltage and medium-voltage switchboards. The company has been operating in the electrical manufacturing sector since 1990 and supplies equipment for industrial and infrastructure applications. Its product portfolio is focused on reliable power distribution and electrical-control solutions.
Vegorama Punjabi Angithi Limited
With a market capitalization of Rs. 398.66 crore, the shares of Vegorama Punjabi Angithi Limited were currently trading at Rs. 240.00 per equity share, rising nearly 1.27 percent from its previous day’s closing price of Rs. 237.00 per equity share.
Vegorama Punjabi Angithi Limited launched its IPO with a size of Rs. 38.38 crores. The IPO is a combination of a fresh issue of 0.40 crore shares worth Rs. 30.70 crores and an offer for sale of 0.10 crore shares worth Rs. 7.68 crores. The stock was listed on the BSE SME on May 27, 2026.
Vegorama Punjabi Angithi had an IPO with an issue price of Rs. 77. The stock closed on the listing date at a price of Rs. 124, which is 61.04 percent higher than the allotment price. Since its listing date, the stock is currently trading at Rs. 240.00 per share, which delivered a return of 211.69 percent.
Vegorama Punjabi Angithi Limited operates a pure-vegetarian food and restaurant chain serving North Indian, Chinese and tandoori offerings. The company has established operations across Delhi NCR and Dehradun, with its business model incorporating dine-in, takeaway and delivery channels.
Merritronix Limited
With a market capitalization of Rs. 778.08 crore, the shares of Merritronix Limited were currently trading at Rs. 445 per equity share, rising nearly 0.80 percent from its previous day’s closing price of Rs. 441.45 per equity share.
Merritronix Limited launched its IPO with a size of Rs. 70.03 crores. The IPO was an entirely fresh issue of 0.47 crore shares and was listed on the BSE SME on June 08, 2026.
Merritronix had an IPO with an issue price of Rs. 149. The stock closed on the listing date at a price of Rs. 297.25, which is 99.5 percent higher than the allotment price. Since its listing date, the stock is currently trading at Rs. 445 per share, which has delivered a return of 198.66 percent.
Merritronix Limited is an electronics and technology manufacturing company with a long operating history dating back to 1988. The company has diversified from telecom-related products into turnkey electronics manufacturing, defence and aerospace applications. Its capabilities include component sourcing, PCB assembly, system integration, testing and supply of mission-critical electronic systems.
Technocrats Plasma Systems Limited
With a market capitalization of Rs. 735.00 crore, the shares of Technocrats Plasma Systems Limited were currently trading at Rs. 420 per equity share, down nearly 0.46 percent from its previous day’s closing price of Rs. 421.95 per equity share.
Technocrats Plasma Systems Limited launched its IPO with a size of Rs. 60.98 crores. The IPO was an entirely fresh issue of 0.46 crore shares and was listed on the BSE SME on August 21, 2026.
Technocrats Plasma Systems had an IPO with an issue price of Rs. 132. The stock closed on the listing date at a price of Rs. 241.5, which is 82.95 percent higher than the allotment price. Since its listing date, the stock is currently trading at Rs. 420 per share, which has delivered a return of 218.18 percent.
Technocrats Plasma Systems Limited is an engineering company specializing in plasma cutting, welding, and automation technologies. Established in 1990, the company has developed a broad portfolio covering plasma cutting machines, welding equipment, inverter-based systems, and customized automation solutions.
Shreedhar Spinners Limited
With a market capitalization of Rs. 336.68 crore, the shares of Shreedhar Spinners Limited were currently trading at Rs. 160.05 per equity share, down nearly 2.17 percent from its previous day’s closing price of Rs. 163.60 per equity share.
Shreedhar Spinners Limited launched its IPO with a size of Rs. 30.68 crores. The IPO was an entirely fresh issue of 0.58 crore shares and was listed on the NSE SME on July 01, 2026.
Shreedhar Spinners had an IPO with an issue price of Rs. 53. The stock closed on the listing date at a price of Rs. 57.1, which is 7.74 percent higher than the allotment price. Since its listing date, the stock is currently trading at Rs. 160.05 per share, which delivered a return of 201.98 percent.
Shreedhar Spinners Limited is a textile manufacturing company focused primarily on cotton yarn production. Established in 2020, the company commenced commercial manufacturing in 2022 and operates from the cotton-producing region of Amravati, Maharashtra. Its yarn products are used across knitting and weaving applications, including apparel, denim, towels, shirting, home textiles, and industrial fabrics.