Multibaggers in a mixed year: 10 SME IPOs doubled, even tripled investor wealth in 2025

Despite a mixed year for the SME market, ten IPOs delivered exceptional returns, with some tripling investor wealth. Companies like Zelio E-Mobility and TechD Cybersecurity saw significant gains, driven by strong sectoral tailwinds and healthy growth. These outperformers highlight opportunities within specialized sectors like EVs, cybersecurity, and healthcare.