BSE SME IPO Index Jumps 23% In April Despite Slower Fundraising

The BSE SME IPO Index has risen over 23% since the beginning of April 2026, marking a sharp rebound after declines in 2025 and early 2026, based on exchange data.

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This growth was registered after just 13 sessions. Nevertheless, the index is still trading at a level that is lower by 25.7% compared to its all-time high of January 6, 2025.

Market Recovery Boosts Equity

SME equities are performing strongly along with the rest of the market. Benchmark indices have risen about 10% each since the start of April, while broader indices have outperformed. The BSE MidCap 150 index has gained 13.8%, and the BSE SmallCap 250 index has increased 17% during the same period, according to publicly available market data.

The recovery has been witnessed amid the persistently high prices of crude oil in the international market at around $100 per barrel. The high price level of crude oil is expected to raise the cost of inputs for SMEs.

IPOs Still Quiet

The current surge in the index has happened amid a lull in SME IPOs. In the first three months of 2026, 42 SME IPOs raised ₹1,870 crore. In April so far, only four IPOs have been launched.

This compares with 267 SME companies raising ₹11,455 crore in 2025 and 240 companies raising ₹8,761 crore in 2024, according to exchange data.

Previous Correction And Recent Movement

The SME IPO index saw a fall by 19% in 2025 and experienced another 18% fall in the third month of 2026. This decline came after sharp rises from 2022 to 2024 and could be attributed to changes in regulations and valuations, among others.

According to information in April, out of the 145 stocks in the SME IPO index, only 20 stocks fell while the rest saw gains. Among them, 17 stocks rose between 50% and 100%, 36 gained between 30% and 50%, and 52 advanced between 10% and 30%. Another 13 stocks recorded gains of up to 10%, while six remained unchanged.

Sector-wise, companies from IT, trading and distribution, professional services, textiles, healthcare, chemicals, and construction recorded notable gains.

Among individual stocks, SK Minerals and Additives rose 118%, Chiraharit gained 90%, and PAN HR Solution advanced 73%. Esses Marine and Rachit Prints increased 71% and 69%, respectively. On the downside, Stanbik Agro declined 11%, while Praruh Technologies and Sunsky Logistics fell 9% and 7%, respectively. Neptune Logitek and NSB BPO Solutions declined around 6.5% each.

The recent movement in the SME IPO index reflects a broad-based rise across stocks during April, even as fundraising activity remains lower compared to previous years and the index continues to trade below its earlier peak.