Up to 379% return: 10 SME IPOs that delivered multibagger returns in a tough 2025

India's SME IPO market has had a tough year as listing gains crashed and most of these companies are trading below issue prices. However, a few of them have been wealth creators, more than doubling investor wealth within months of debut. Here are 10 SME IPOs from 2025 that turned out to be standout multibaggers. Small Wonders