National Stock Exchange of India (NSE) CEO Ashishkumar Chauhan said SME (small and medium-sized enterprises) IPOs are highly risky and warned investors against blindly following market hype. "It's your money as an investor. Study hard, and don't invest just because of tips," he advised investors. "The last few SME listings haven't gone up even 5%...Many went down 5-10%," he added.