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Biggest SME IPO Failures in India 2022

The performance of an IPO is measured based on its price movements on the listing day. When the closing price of the IPO on the listing day is below the issue price, the IPO is said to have flopped.

The listing day is viewed as an important day for many investors who wish to make quick profits by selling the IPO shares on that day. The real demand and value of the share gets assessed on the listing day when the share becomes accessible to all who missed to buy the IPO shares or did not get an allotment.

An IPO can fail on account of many factors that may include issue with company fundamentals, management, wrong timing, incorrect valuation, lack of planning, etc. Thus, an investor should assess the company well before investing the hard earned money.

<< Year 2021	2022	Year 2023 > >

Biggest SME IPO Flops 2022

Issuer Company	Issue Type	Listing Date	Issue Size	Subscribed	Issue Price	Listing Day Price	Current Price	52 Week High	52 Week Low
Bhatia Colour Chem Limited	SME	Mar 24, 2022	Rs 40.00 Cr	1.43x	Rs 80.00	Rs 42.00 (-47.5%)	Rs 47.00 (-41.25%)	Rs 63.00 (Sep 22, 2023)	Rs 41.90 (Jul 12, 2023)
Swastik Pipe Limited	SME	Oct 12, 2022	Rs 62.52 Cr	1.35x	Rs 100.00	Rs 69.30 (-30.7%)	Rs 70.10 (-29.9%)
Reetech International Cargo and Courier Ltd	SME	Oct 10, 2022	Rs 11.71 Cr	1.67x	Rs 105.00	Rs 83.60 (-20.38%)	Rs 50.00 (-52.38%)	Rs 66.75 (Jan 11, 2024)	Rs 36.90 (Nov 17, 2023)
Moxsh Overseas Educon Limited	SME	Dec 30, 2022	Rs 10.42 Cr	100.44x	Rs 153.00	Rs 127.85 (-16.44%)	Rs 135.00 (-11.76%)
Silver Pearl Hospitality & Luxury Spaces Ltd	SME	Jun 17, 2022	Rs 9.00 Cr	1.68x	Rs 18.00	Rs 15.20 (-15.56%)	Rs 9.50 (-47.22%)	Rs 12.35 (Jan 19, 2024)	Rs 7.35 (Oct 20, 2023)
Naturo Indiabull Limited	SME	Sep 02, 2022	Rs 10.92 Cr	20.26x	Rs 30.00	Rs 26.25 (-12.5%)	Rs 15.50 (-48.33%)	Rs 19.71 (Aug 18, 2023)	Rs 10.50 (Jul 10, 2023)
KCK Industries Limited	SME	Jul 08, 2022	Rs 4.50 Cr	5.91x	Rs 30.00	Rs 26.25 (-12.5%)	Rs 211.00 (603.33%)
Dipna Pharmachem Limited	SME	Sep 08, 2022	Rs 15.21 Cr	2.77x	Rs 38.00	Rs 33.40 (-12.11%)	Rs 8.04 (-78.84%)	Rs 24.13 (Sep 08, 2023)	Rs 7.51 (Jun 05, 2024)
Evoq Remedies Limited	SME	Mar 30, 2022	Rs 9.72 Cr	1.67x	Rs 27.00	Rs 23.75 (-12.04%)	Rs 11.19 (-58.56%)	Rs 19.44 (Jan 11, 2024)	Rs 8.50 (Mar 28, 2024)
Dollex Agrotech Limited	SME	Dec 28, 2022	Rs 24.39 Cr	1.88x	Rs 35.00	Rs 31.50 (-10%)	Rs 38.10 (8.86%)
Healthy Life Agritec Limited	SME	Jul 26, 2022	Rs 10.00 Cr	8.21x	Rs 10.00	Rs 9.34 (-6.6%)	Rs 40.27 (302.7%)	Rs 40.27 (Jul 02, 2024)	Rs 3.47 (Mar 15, 2024)
Kandarp Digi Smart BPO Ltd	SME	Sep 28, 2022	Rs 8.10 Cr	1.84x	Rs 30.00	Rs 28.50 (-5%)	Rs 31.15 (3.83%)
Rhetan TMT Limited	SME	Sep 05, 2022	Rs 56.00 Cr	1.47x	Rs 70.00	Rs 66.50 (-5%)	Rs 14.67 (-79.04%)	Rs 15.96 (Jun 25, 2024)	Rs 7.30 (Aug 21, 2023)
Veerkrupa Jewellers Limited	SME	Jul 18, 2022	Rs 8.10 Cr		Rs 27.00	Rs 25.65 (-5%)	Rs 1.69 (-93.74%)	Rs 2.91 (Aug 31, 2023)	Rs 1.20 (Dec 21, 2023)
Fone4 Communications (India) Limited	SME	May 06, 2022	Rs 6.80 Cr	14.75x	Rs 10.00	Rs 9.50 (-5%)	Rs 4.74 (-52.6%)	Rs 7.60 (Jan 09, 2024)	Rs 3.10 (Jul 31, 2023)
Swaraj Suiting Limited	SME	Mar 28, 2022	Rs 10.68 Cr	12.13x	Rs 56.00	Rs 53.20 (-5%)	Rs 313.75 (460.27%)
Richa Info Systems	SME	Feb 21, 2022	Rs 10.00 Cr	5.05x	Rs 125.00	Rs 118.75 (-5%)	Rs 65.00 (-48%)
Global Longlife Hospital and Research Limited	SME	May 04, 2022	Rs 49.00 Cr	1.5x	Rs 140.00	Rs 135.35 (-3.32%)	Rs 33.80 (-75.86%)	Rs 61.70 (Jan 04, 2024)	Rs 27.00 (Jun 11, 2024)
Cool Caps Industries Limited	SME	Mar 24, 2022	Rs 11.63 Cr	7.91x	Rs 38.00	Rs 37.65 (-0.92%)	Rs 340.00 (794.74%)

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The above list represents data from 2007 till date.
The current market price may not be a true reflection of the IPO performance as of today as it is includes the effect of price change on account of corporate actions like stock split, bonus (if any) till date.

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