🚀 At a glance
In 2025, startups are out. SME IPOs are in.Why build an app, raise 2 seed rounds, go viral on Twitter, and still end up bankrupt… when you can just list on NSE Emerge, raise ₹10 crore in 3 days, and disappear into the sunset with a ringing bell?
From failed founders to fintech bros to ex-TCS uncles — the new trend is simple:“Don’t pitch to VCs. Pitch to retail.”
🧠 What’s Happening?
| Startups | SME IPOs |
|---|---|
| Burn cash | Raise cash |
| Build MVP | Build Excel sheet |
| 20-slide pitch | 200-page RHP |
| Shark Tank rejection | SME listing success |
| Exit via acquisition | Exit via circuit |
SME IPOs have become thenew hack to instant validation, liquidity, and investor frenzy.
💼 Real Talk — Why Engineers Are Ditching Startups
1.VCs Ghost You. Retail Doesn’t.
- VCs take 3 months to say “We’ll pass.”
- Retail investors take 3 seconds to oversubscribe.
2.No Traction?
No Problem.
- You don’t need PMF. Just PAT.
- ₹80 lakh profit? Boom — SME IPO incoming.
3.No Pitch Deck Revisions
- You’re not tweaking your Canva slides.
- You’re printing glossy prospectuses.
4.India Loves IPOs More Than Its Elders
- “Nivesh” sounds sexier when there’s a listing gain.
- SME IPO is the only place where ₹25 lakh net worth = ₹1 crore market cap.
🔥 Recent Examples to Prove This Madness
| Company | FY25 PAT | IPO Size | % Subscribed | Sector | Listed Gain |
|---|---|---|---|---|---|
| Retval Infotech | ₹1.2 Cr | ₹12 Cr | 185x | Software | 125% |
| Enfuse Solutions | ₹3.6 Cr | ₹23 Cr | 312x | BPO/KPO | 102% |
| Shivalic Power | ₹2.9 Cr | ₹64 Cr | 117x | Transformers | 88% |
| Teerth Gopicon | ₹12.8 Cr | ₹44 Cr | 52x | Infra | 68% |
None of these are unicorns. Most aren’t even zebras.But Dalal Street thinks they’re dragons.
🏗️ How It Works (The
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