The year 2024 has been remarkable for SME IPOs in India, with several companies delivering outstanding returns to investors. These IPOs have provided significant opportunities for wealth creation, demonstrating the growing confidence of retail and institutional investors in small and medium enterprises. Below, we analyze the top-performing SME IPOs of 2024, based on their listing date, issue price, and current market performance.

TAC Infosec Limited emerged as the leader in 2024, witnessing a phenomenal gain of over 1,200% from its issue price of Rs 106 to its current price of Rs 1,480.80 on the BSE. This growth reflects strong investor confidence in the cybersecurity space. Another high performer was Owais Metal and Mineral Processing Limited, which surged nearly 900% from its issue price of Rs 87 to Rs 850.05, driven by strong fundamentals and demand for metal and mineral processing. Afcom Holdings Limited also impressed investors with a gain of over 800%, climbing from Rs 108 to Rs 985.15, highlighting the growing interest in technology-driven business solutions.

The renewable energy sector saw significant gains, with Australian Premium Solar (India) Limited and Alpex Solar Limited showing impressive returns. Australian Premium Solar (India) Limited surged from Rs 54 to Rs 401.15 on the BSE, delivering over 600% returns, while Alpex Solar Limited grew by over 400%, reaching Rs 662.45. Ztech India Limited also saw significant growth, with its stock climbing from Rs 110 to Rs 627. The IT and technology sector maintained its steady growth, driving Ztech India’s stock to new highs.

Infrastructure and fintech also attracted strong investor interest. Kay Cee Energy & Infra Limited saw a rise from Rs 54 to Rs 298.60, gaining over 400%, benefiting from the ongoing infrastructure development and power sector reforms. Similarly, Sodhani Academy of Fintech Enablers Limited capitalized on the fintech boom, surging from Rs 40 to Rs 215.95. Slone Infosystems Limited also delivered strong gains, moving from Rs 79 to Rs 398.35, demonstrating investor interest in IT services and digital solutions.

Teerth Gopicon Limited rounded out the list with a gain of over 300%, rising from Rs 111 to Rs 454.50. The company’s stock performance highlights the continued investor enthusiasm for industrial sector companies.

Overall, the SME IPO market in India has had an extraordinary year in 2024, with several companies providing significant returns. Many SME IPOs have delivered multi-fold returns, making them attractive to investors. Renewable energy and tech sectors have been among the top performers, reinforcing investor confidence. The strong performance of these IPOs indicates a rising appetite for SME stocks, particularly in infrastructure, fintech, and digital services. As the Indian economy continues to grow, SME IPOs will likely remain an essential avenue for wealth creation in the coming years.