New Delhi, July 22 -- Nearly three out of four SME IPOs launched in India since 2020 have delivered listing gains, according to a report by B2K Analytics. Between 2020 and June 2026, 963 SME IPOs were listed, of which 704, or 73.1%, debuted at a premium, while 173 listed at a discount and 86 closed at their issue price.

The report also showed that although listing gains have moderated over the past two years, companies continued to raise substantial capital during the first half of calendar year 2026 despite heightened market volatility, geopolitical tensions and fewer listings.

As per the report, the number of SME IPOs increased from 30 in 2020 to 269 in 2025, with 2024 recording the highest share of listing gains, as 87.8% of IPOs deb...