In 2025 so far, 147 SME IPOs have been listed on Indian stock exchanges. Of these, 81 are currently trading above their issue price, while 61 are below it. According to Trendlyne data, the average return for all SME listings this year is approximately 15%. Notably, 10 SME IPOs have seen a sharp decline of over 50% from their issue price, marking them as significant underperformers.