The Economic Times

Negative returns continue in 2026: Once a multibagger factory, is India's SME market fast losing relevance?

India's SME IPO market, once a multibagger factory, is facing a sharp correction with negative returns and most recent listings trading below issue price. Liquidity issues and regulatory changes have made institutions hesitant, impacting valuations and exit mechanisms. While some see a healthy reset, concerns about the platform's relevance persist if liquidity challenges remain unaddressed.