Retail Investors Drive SME IPO Growth: Insights from Kresha Gupta
Date: September 16, 2025
Steptrade Capital, a leading investment management firm, has actively participated in India’s SME IPO segment, deploying approximately ₹177 crore across 63 IPOs over the past 24 months, achieving an average listing gain of 35%. The firm’s investments span both mainboard and SME listings, reflecting a balanced and strategic approach.
Kresha Gupta, Director and Fund Manager at Steptrade Capital, emphasized the pivotal role of retail investors in the SME IPO surge. She said,
"The real surge of SME IPOs began post-COVID-19, in terms of number of issues hitting the market, issue size, and participation levels. The fact that SME IPOs are heavily dominated by retail participation has several reasons including possibilities of big listing day gains, increasing participation of QIBs and institutional investors, increasing awareness of the capital markets, opportunities in niche sectors, and positive market sentiments."
Under Kresha Gupta’s guidance, Steptrade Capital has strategically backed high-growth sectors such as infrastructure, renewable energy, logistics, and recycling. Through its flagship funds—Chanakya Opportunities Fund I and Steptrade Revolution Fund I—the firm has anchored notable IPOs including Quality Power Electrical Equipments, Fabtech Technologies Cleanrooms, Prostarm Info Systems, Maxvolt Energy, and SAR Televentures, supporting the growth of India’s next generation of market leaders.