10 SME IPOs that have declined up to 82% in 2026. Do you have any in your portfolio?

While SME IPOs have delivered eye-catching returns this year, others have declined as much as 82% in 2026. From weak post-listing selloffs to an extended downturn since their debut, these stocks have emerged as the worst performers in the SME segment. Here are the top SME IPOs that have witnessed a sharp selloff this year.

UHM Vacation listed at a 20% discount to its issue price and has since delivered an 81.9% decline YTD. The company operates a business-to-business (B2B) travel and tourism aggregation platform that connects travel service providers with travel agents and corporate clients

Yajur Fibres listed at a 20% discount to its issue price and has recorded a 77.3% decline YTD. processes and manufactures sustainable bast fibers—such as flax (linen), jute, and hemp—into short-staple, cotton-like fibers through a specialized process called cottonization.

Kiaasa Retail listed at a 3.1% discount to its issue price, while its stock has declined 76.7% YTD. It is an Indian fashion retailer that designs, manufactures, and sells affordable women's ethnic and fusion wear.

Aritas Vinyl listed at its issue price, while the stock has fallen 73.7% YTD. It manufactures technical textiles, specifically artificial leather, including PU (polyurethane) synthetic leather and PVC-coated leather.

Liotech Industries listed at a 19.9% discount to its issue price and has declined 72.8% YTD. It manufactures and trades precision architectural hardware, door and window accessories, and engineering components.

QT Foods listed at its issue price, but the stock has nevertheless declined 70.9% year-to-date. The company manufactures, markets, and sells a wide variety of bakery products across the country.

Armour Security listed at a 20% discount to its issue price and has recorded a 70.9% decline YTD. It provides professional manned guarding, facility management, and security personnel deployment across India.

Fascinate Textiles listed at a 20% discount to its issue price, while its stock has fallen 69.8% YTD. It manufactures readymade knitted and woven garments for men, women, and children, with a strong focus on childrenswear and infant.Read more:NSE IPO Tracker: Catch all the highlights here​

Skytech Infinite Platform listed at a 3.9% discount to its issue price and has declined 68.8% YTD. The company provides industrial automation and turnkey control solutions across the country.

Gulf Lloyds listed at its issue price, while the stock has declined 68.3% YTD. It is an independent industrial services and conformity assessment company that provides third-party inspection, testing, verification, auditing, training, and certification services.
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