Remember when small and medium enterprise (SME) IPOs were like a lottery ticket? Last year, it wasn't unusual for these stocks to double on their listing day. In an effort to curb this volatility, the National Stock Exchange stepped in, introducing a 90% cap on pre-market orders in July 2024. This move effectively cooled the "lottery-style" gains. From February to April this year, SME IPO listings even faced losses, amid global sell-offs and trade tensions. However, the market has since stabilized, with a return to more sustainable gains. In June, listings saw a 12.5% gain, followed by nearly 20% in July, and 11.9% in August. These gains are healthy and realistic, a stark contrast to the previous speculative frenzy. Despite the reduced hype, investor interest in SME IPOs remains robust. In FY25, 234 SMEs successfully raised more than ₹9,100 crore, a significant jump from the previous year's ₹6,000 crore. Retail investor participation has also surged, with over 1.7 lakh investors now in the market. This raises a key question: Did the NSE's cap create a more mature market where a company's fundamentals matter more than the pre-listing buzz? Or will promising SMEs struggle without the initial excitement that once drew investors? Read the full report by Dipti Sharma. Market WatchSensex and Nifty 50 extended gains for a third straight session on 18 September, rising 320 and 93 points respectively, after the US Fed’s 25 bps rate cut and hints of more easing ahead. Broader markets were mixed, with midcaps edging up and smallcaps flat, while the rupee weakened to 88.13/$ against 87.82/$ in the previous session. Click here to know the factors that moved the market today. Premium readsMint Explainer: What the Fed’s rate cut means for India’s markets, the rupee, and RBI policy Momentum funds are having a moment. But will it last? Is the Street too bullish on NSDL Payments Bank? Get a head start on tomorrow’s Print edition:Mint News: Govt rolls out first standard treatment guidelines for hospitals and clinics Mark to Market: Reits are making hay while the sun shines, but potential risks lurk Mint Money: Should retail investors mimic professional fund managers? Mint Opinion: The growing gap: Why India must tackle inequality to ensure stability Sneak a PeekLong Story, a much-loved Mint feature, is published every weekday. Before the next piece hits the stands, here’s your exclusive glimpse into what’s brewing on our desk. Catch the story in the morning edition. Why global universities are flocking to Gurugram and GIFT CityForeign universities, like the University of Southampton and Deakin, are opening campuses in India, a trend fuelled by the National Education Policy. While this allows students to get an international education without leaving home, will it reshape India’s academic landscape forever? In Today’s Episode…Gameskraft cuts jobs amid new gaming lawBengaluru-based Gameskraft has laid off 120 employees after halting operations in response to the Online Gaming Bill, 2025, which bans money-gaming platforms and imposes steep penalties on operators and promoters. The company said the regulatory shift forced a complete restructuring but assured that it would honour leave encashment, extend health insurance benefits till March, and help employees transition their coverage to individual plans if needed. Love a Mint story? Here's how to support it.Do you have a favourite writer at Mint? Every day, we strive to publish stories that need to be told, and your digital subscription makes all the difference. It tells us we’re on the right track and helps us continue delivering the in-depth journalism you rely on. If you’re not yet a subscriber, now’s the perfect time to join! Starting today, many of our staff writers are sharing special, personalised discount coupon codes. So if there's a Mint writer whose work you admire, reach out to them on social media or via email and ask for their unique coupon code! (And if you're already a subscriber, a quick note telling them you appreciate their work would still make their day!) Note: The coupon codes are available only with in-house writers, and not our external columnists. If your request for a code fails, please write to me at shravani.sinha@livemint.com. Thanks for reading! Edited by Rashmi Sanyal. Produced by Shad Hasnain.
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गुरुवार, 18 सितंबर 2025
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