Making sense of SME Stock Mania
SME stocks have seen tremendous growth in the returns since COVID. So, have discrepancies there. Join us as we try to make sense of it.
There were close to 270 SMEs that got listed in India during 2025 raising over ₹12,000 crore. This number has been gradually increasing since 2020, when 27 listings raised less than ₹160 crore.
The mania of chasing beta in the SME stocks is increasing day in and day out. And a substantial chunk of this hype is contributed by the retail investors, often influenced by grey market premiums and momentum trading.But many have burnt hands in it. This largely comes from misuse of IPO proceeds, market manipulations by issuing party, compliance concerns and illiquidity of the stocks.There is more worry. A large number of these SME companies are shell companies by nature. As per conservative estimates, the market value of these shell companies is above ₹1 lakh crore.Clearly a cause of concern. So, we thought of discussing it with someone who has Birds Eye view of this. In his role as whole time member of SEBI, Ashwani Bhatia has passed orders against many such companies. In case of Bharat Global Developers Ltd, Bhatia saved retail investors from what otherwise would have been a $1.5 billion scam. So, we decided why not discuss this pressing issue with Bhatia himself.
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