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  5. Top SME IPOs of 2026: Grover Jewells, KRM Ayurveda, Accretion Nutraveda, Acetech E-Commerce and more

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Top SME IPOs of 2026: Grover Jewells, KRM Ayurveda, Accretion Nutraveda, Acetech E-Commerce and more

Kamal Joshi
By Kamal Joshi

3 min read | Updated on March 12, 2026, 12:15 IST

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SUMMARY

Top SME IPOs of 2026: The best performing SME issues of CY26 include Grover Jewells, KRM Ayurveda, Accretion Nutraveda, Acetech E-Commerce, Defrail Technologies and Accord Transformer & Switchgear, among others.

A total of 34 SME IPOs have been listed in 2026 so far. | Image: Shutterstock

A total of 34 SME IPOs have been listed in 2026 so far. | Image: Shutterstock

Top SME IPOs of 2026: Not even three months in to the calendar year 2026, and we already have a few blockbusters SME initial public offerings, with one trading over 100% gains and two above 40% past their issue price.

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The top SME issues of CY26 include Grover Jewells, KRM Ayurveda, Accretion Nutraveda, Acetech E-Commerce, Defrail Technologies and Accord Transformer & Switchgear, among others.

Top 10 SME IPOs of 2026: Issue price vs current price

CompanyListing DateIssue PriceCurrent Price*Change (%)
Grover JewellsFeb 11, 2026₹88₹206.45134.60%
KRM AyurvedaJan 29, 2026₹135₹197.8546.55%
Accretion NutravedaFeb 4, 2026₹129₹18644.18%
Acetech E-CommerceMarch 9, 2026₹112₹129.6015.71%
Defrail TechnologiesJan 19, 2026₹74₹8514.86%
Accord Transformer & SwitchgearMarch 2, 2026₹46₹50.8310.5%
Avana ElectrosystemsJan 20, 2026₹59₹62.55.93%
Fractal IndustriesFeb 24, 2026₹216₹221.72.64%
INDO SMCJan 21, 2026₹149₹152.32.21%
Yaap DigitalMarch 5, 2026₹145₹147.651.83%

*As of March 11's closing price

ALSO READ | Gaudium IVF and Women Health, Aye Finance, Fractal Analytics: How IPOs listed in February 2026 are performing

Grover Jewells

The stock was up 134.60% from the issue price of ₹88 on the SME platform of NSE, Emerge, as of March 11's closing price. Grover Jewells' initial share sale was subscribed 19.16 times, according to Chittorgarh.

The ₹33.83 crore IPO was solely a fresh issuance of 38.44 lakh shares.

The company specialises in making and designing an array of wholesale gold jewellery. The New Delhi-based firm's collections include plain gold, studded, and semi-finished jewellery.

In an exchange filing on March 11, the firm said that it has launched a new range of gold jewellery in 9k gold to expand product offerings and cater to evolving customer preferences according to the current market trends.

KRM Ayurveda

Shares of ayurvedic healthcare institution KRM Ayurveda were up 46.55% from the issue price of ₹135 on Emerge. The issue was subscribed to 74.27 times, according to Chittorgarh.

The ₹77.49 crore issue was exclusively a fresh issuance of 57.40 lakh shares with no offer for sale component.

KRM Ayurveda, established in 2019, runs a network of hospitals and clinics across India. Additionally, the company has marked its presence abroad by means of telemedicine consulting and sales.

Accretion Nutraveda

The stock was up 44.18% from the issue price of ₹129 on the BSE SME. The issue was subscribed 1.77 times, with bids for 24,40,000 shares against 13,76,000 shares on offer.

The company was only a fresh issuance of ₹24.77 crore.

Accretion Nutraveda makes ayurvedic and nutraceutical products in a range of several dosage forms, including capsules, oral liquids, tablets, powders, oils, and external preparations like creams, balms, and gels.

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About The Author

Kamal Joshi
Kamal Joshi is a business journalist who covers industries, markets, and IPOs. He is passionate about breaking news and enjoys playing tennis, especially flexing his backhand. He was previously associated with Republic TV and LatestLY.

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