From Merritronix to Winsol Engineers: 73% of SME IPOs made listing gains since 2020. Here’s what’s changing now

A report by B2K Analytics reveals that 73.1% of SME IPOs in India since 2020 produced listing gains. Fundraising remained stable in H1 CY2026, with 78 IPOs raising ₹3,752 crore amid global market challenges, emphasizing a shift in investor focus towards fundamentals and profitability.