211  Total SME IPOs listed in 2025

9,659.65 Crs.  Total funds raised in 2025

144  SME IPOs listed with Gain in 2025

67  SME IPOs listed with loss in 2025

211  Total SME IPOs listed in 2025

9,659.65 Crs.  Total funds raised in 2025

144  SME IPOs listed with Gain in 2025

67  SME IPOs listed with loss in 2025

211  Total SME IPOs listed in 2025

9,659.65 Crs.  Total funds raised in 2025

144  SME IPOs listed with Gain in 2025

67  SME IPOs listed with loss in 2025

211  Total SME IPOs listed in 2025

9659.65 Crs.  Total funds raised in 2,025.00

144  SME IPOs listed with Gain in 2025

67  SME IPOs listed with loss in 2025

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SME IPO Market Makers List

Market Maker is an important financial intermediary for IPO and listing; registered with SEBI. These entities play a crucial role in ensuring liquidity and facilitating seamless trading post IPO. Whether you're preparing for a Mainboard or SME Initial Public Offer, assessing IPO eligibility, or navigating the IPO process, they serve as essential partners for both companies and investors. While it is mandatory to appoint market makers in SME IPO, for Mainboard IPO, it is voluntary.
From Lead Market Makers to Designated Market Makers in India, they help maintain price stability and investor confidence post-listing. For those planning to invest in IPO or participate in IPO bidding, understanding the key IPO market makers in India can make a significant difference in making informed and secure decisions.
Explore our list to identify the right market makers who bring reliability, transparency, and efficiency in the IPO ecosystem.

Designated Market Maker SME IPOs Total IPO Size IPOs Listed in Gain IPOs Listed in Loss IPOs Currently in Gain IPOs Currently in Loss
Hem Finlease Private Limited 98 3353.81 87 11 64 33 Connect
Nikunj Stock Brokers Limited 85 1674.68 61 24 48 37 Connect
Rikhav Securities Limited 79 2411.54 61 18 44 35 Connect
Aryaman Capital Markets Limited 72 1236.78 59 13 42 30 Connect
Pantomath Stock Brokers Private Limited 63 1128.86 55 8 31 30 Connect
Choice Equity Broking Private Limited 61 1003.54 40 21 29 31 Connect
NNM Securities Private Limited 58 1463.14 38 20 22 36 Connect
Gretex Share Broking Private Limited 55 1192.43 43 12 31 24 Connect
Shreni Shares Limited 51 1016.82 45 6 33 18 Connect
Giriraj Stock Broking Private Limited 49 2116.31 38 11 21 28 Connect
Beeline Broking Limited 46 553.74 32 14 22 24 Connect
Spread X Securities Private Limited 45 1985.54 45 0 28 17 Connect
Guiness Securities Limited 43 489.54 33 10 18 25 Connect
Sunflower Broking Private Limited 42 1162.80 32 10 22 20 Connect
Hem Securities Limited 34 233.15 30 4 23 11 Connect
Alacrity Securities Limited 31 930.30 17 14 14 17 Connect
Share India Securities Limited 30 1015.74 21 9 18 12 Connect
SS Corporate Securities Limited 26 1121.46 24 2 15 11 Connect
Aftertrade Broking Private Limited 18 531.78 10 8 4 14 Connect
Prabhat Financial Services Limited 18 643.78 14 4 14 4 Connect
BCB Brokerage Private Limited 17 113.19 16 1 12 5 Connect
Monarch Networth Capital Limited 12 171.83 8 4 3 9 Connect
SVCM Securities Private Limited 12 370.63 7 5 3 9 Connect
Holani Consultants Private Limited 11 273.07 10 1 10 1 Connect
Asnani Stock Broker Private Limited 10 285.38 6 4 4 6 Connect
Pure Broking Private Limited 9 137.17 6 3 5 4 Connect
Black Fox Financial Private Limited 8 132.15 6 2 4 4 Connect
Globalworth Securities Limited 8 348.80 7 1 4 4 Connect
SMC Global Securities Limited 8 211.47 6 2 5 3 Connect
Mnm Stock Broking Private Limited 7 233.75 6 1 1 6 Connect
Econo Broking Private Limited 6 66.94 6 0 3 3 Connect
Keynote Capitals Limited 6 142.29 2 4 3 3 Connect
Msb E-Trade Securities Limited 6 33.94 3 3 2 4 Connect
SWASTIKA INVESTMART LIMITED 6 93.26 5 1 3 3 Connect
BHH Securities Private Limited 5 123.59 4 1 3 2 Connect
Naysaa Securities Limited 5 13.44 3 2 2 3 Connect
R.K. Stock Holding Private Limited 5 258.64 4 1 4 1 Connect
Sernet Financial Services Private Limited 5 50.58 2 3 2 3 Connect
Systematix Shares & Stocks (India) Limited 5 138.67 5 0 3 2 Connect
Airan Finstocks Private Limited 4 98.78 4 0 3 1 Connect
B.N. Rathi Securities Limited 4 62.49 3 1 0 4 Connect
Bindal Equities Limited 4 34.52 4 0 0 4 Connect
Indo Jatalia Securities Private Limited 4 27.08 1 3 1 3 Connect
K.M.Jain Stock Brokers Private Limited 4 17.54 3 1 4 0 Connect
Mansi Share & Stock Broking Private Limited 4 290.46 4 0 4 0 Connect
Maverick Share Brokers Private Limited 4 63.12 2 2 3 1 Connect
Nirman Share Brokers Private Limited 4 67.78 3 1 1 3 Connect
Wealth First Portfolio Managers Private Limited 4 36.63 2 2 3 1 Connect
Wiinance Financial Services Private Limited 4 98.68 3 1 4 0 Connect
Anant Securities 4 100.40 0 4 0 4 Connect
Ajcon Global Services Limited 3 101.45 2 1 2 1 Connect
Arihant Capital Markets Limited 3 125.87 3 0 2 1 Connect
Basan Equity Broking Limited 3 53.83 3 0 2 1 Connect
Inventure Growth & Securities Limited 3 17.60 2 1 2 1 Connect
K K Securities Limited 3 15.73 2 1 2 1 Connect
Khambatta Securities Limited 3 15.25 3 0 3 0 Connect
Market-Hub Stock Broking Private Limited 3 63.87 3 0 3 0 Connect
Narayan Securitirs Limited 3 33.42 3 0 1 2 Connect
NEW BERRY CAPITALS PRIVATE LIMITED 3 126.78 3 0 3 0 Connect
SKI Capital Services Limited 3 57.28 3 0 3 0 Connect
Sparkle Securities Solutions Private Limited 3 27.15 2 1 0 3 Connect
Vijeta Broking India Private Limited 3 34.22 1 2 1 2 Connect
4A Securities Limited 2 21.00 0 2 0 2 Connect
Anuriti Multy Broking Private Limited 2 28.35 1 1 0 2 Connect
Artha Vrddhi Securities Limited 2 10.22 2 0 0 2 Connect
Asit C.Mehta Investment Interrmediates Limited 2 166.01 2 0 1 1 Connect
Bhaijee Portfolio Private Limited 2 97.71 2 0 2 0 Connect
Comfort Securities Limited 2 47.83 2 0 0 2 Connect
GCM Securities Limited 2 19.75 1 1 0 2 Connect
Guiness Corporate Advisors Private Limited 2 27.04 2 0 0 2 Connect
Horizon Financial Consultants Private Limited 2 22.55 2 0 1 1 Connect
Idbi Capital Markets and Securities Limited 2 32.00 1 1 1 1 Connect
Innovate Securities Private Limited 2 50.95 2 0 2 0 Connect
Isj Securities Private Limited 2 12.03 2 0 2 0 Connect
JSK Securities and Services Private Limited 2 46.43 0 2 0 1 Connect
Kantilal Chhaganlal Securities Private Limited 2 69.01 2 0 0 2 Connect
Khajanchi & Gandhi Stock Broking Private Limited 2 68.26 2 0 0 2 Connect
MLB Stock Broking Private Limited 2 86.36 2 0 1 1 Connect
Pentagon Stock Brokers Private Limited 2 33.49 2 0 2 0 Connect
Shree Bahubali Stock Broking Limited 2 148.72 2 0 2 0 Connect
Wellworth Share & Stock Broking Limited 2 29.04 1 1 2 0 Connect
A Gcm Securities Limited 1 16.00 1 0 0 1 Connect
Achintya Securities Private Limited 1 3.96 1 0 1 0 Connect
Almondz Global Securities Limited 1 39.42 0 1 1 0 Connect
Amrapali Aadya Trading & Investments Private Limited 1 2.16 1 0 1 0 Connect
Arch Finance Limited 1 7.04 0 1 0 1 Connect
Arham Shares Private Limited 1 80.68 1 0 0 1 Connect
Arham Wealth Management Private Limited 1 4.78 1 0 1 0 Connect
Badjate Stock And Shares Private Limited 1 77.83 0 1 1 0 Connect
Bhansali Value Creations Private Limited 1 165.63 1 0 1 0 Connect
Equity Broking Private Limited 1 7.97 1 0 0 1 Connect
Goldmine Stocks Private Limited 1 28.34 1 0 0 1 Connect
HARJIVANDAS NEMIDAS SECURITIES PRIVATE LIMITED 1 4.98 1 0 1 0 Connect
Ikab Securities & Investment Limited 1 8.85 1 0 0 1 Connect
Intellect Stock Broking Limited 1 5.13 1 0 1 0 Connect
Jainam Share Consultants Private Limited 1 6.32 1 0 1 0 Connect
Jatalia Securities Private Limited 1 5.45 1 0 1 0 Connect
Joindre Capital Services Limited 1 6.48 0 1 1 0 Connect
Kunvarji Finstock Private Limited 1 2.10 1 0 0 1 Connect
Microsec Capital Limited 1 19.25 0 1 0 1 Connect
Moneylicious Securities Private Limited 1 15.46 1 0 0 1 Connect
Multiplex Capital Limited 1 5.52 1 0 0 1 Connect
N.Mohanlal Nagardas Stock Brokers Private Limited 1 6.00 1 0 0 1 Connect
Nidhi Broking Services Private Limited 1 4.54 0 1 0 1 Connect
Nvs Brokerage Private Limited 1 37.30 0 1 1 0 Connect
O J Financial Services Limited 1 4.40 1 0 0 1 Connect
Oswal Shares & Securities Limited 1 5.05 1 0 0 1 Connect
Prabhudas Lilladher Private Limited 1 35.52 0 1 0 1 Connect
Rainbow Securities Private Limited 1 11.40 1 0 1 0 Connect
ryaman Capital Markets Limited 1 15.00 1 0 1 0 Connect
Saffron Equity Advisors Private Limited 1 51.08 0 1 0 1 Connect
Shah Investors Home Limited 1 8.00 1 0 0 1 Connect
Shilpa Stock Broker Private Limited 1 7.29 1 0 1 0 Connect
Skyline Financial Services Private Limited 1 29.90 0 1 0 1 Connect
Vasundhara Merchants Ltd 1 3.04 1 0 0 1 Connect
Vck Share & Stock Broking Services Limited 1 4.25 1 0 0 1 Connect
Aikyam Capital Private Limited. 1 10.71 1 0 1 0 Connect
ACME Capital Market Limited 1 48.72 1 0 1 0 Connect
Airan Finstocks Private Limited 0 0 0 0 0 Connect

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