INDIA is not only about Gujarat, Maharashtra and Rajasthan, it is more than that.

What do you think, “The highest multibagger SME stock has come from which state of India?

Since sometime, I have asked this question to many people & got almost the same response,

Gujarat

Maharashtra

Rajasthan

While the first 2 names are very common, some have given the third option as either Telangana, Madhya Pradesh, or some other developed state.

Then, my obvious next question comes, what do you think which state has the least possibility of “The multibagger stock comes from?”

and by default, I get the below options,

Bihar

Uttar Pradesh

Odisha

Again, the first 2 options are almost common to hear, but for the third option, either Chhattisgarh, the Northeast, or other states came up.

Now, I’ve one story to tell about a company that came up with an IPO in 2016, when it had 20 stores back then.

The company came up with around Rs. 5.8 Cr. IPO, with a valuation of around Rs. 21 Cr.

Fast-forward to 2026,

The company has opened more than 200 stores, reported a profit of Rs.117 Cr. in FY 2026, and the market has responded to it with a market capitalisation of over Rs. 8,000 Cr.

This company name is Aditya Vision Limited, and the irony is that this company is from Patna, Bihar.

And it’s a reminder that great businesses don’t always emerge where everyone is already looking.

INDIA is not only about Gujarat, Maharashtra and Rajasthan, it is more than that.

Some of the strongest businesses are being built in places that rarely make headlines, by founders who understand their markets deeply, execute patiently, and stay focused while the spotlight is elsewhere.

The real BHARAT is hidden in those unflashy places, quietly building businesses that one day will make everyone look back and ask, “How did we miss this?”

This isn’t a recommendation to buy the stock.