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List of SME Merchant Bankers in India

This list consists of merchant banker for SME IPO. Role of a merchant banker for SME listing has a broad scope that includes capital restructuring, appointment of market intermediaries, fund raise and promotional activities. The post Issue activities of SME IPO merchant banker in India includes proper basis of allotment, coordinating with intermediaries and compliance with regulatory requirements of the stock exchange. IPO bound companies can search for best Merchant Banker for valuation of shares. One can go through this list of merchant bankers to choose the best IPO lead manager. Through this list, promoters can also find top 10 merchant bankers in India.

Merchant Banker No of IPOs so far Total funds raised (Cr.) Avg IPO size (Cr.) Avg Listing Gain (%) Avg Subscription (X) Location
Hem Securities Limited 115 2183.67 18.99 32.93 85.94 Jaipur
Pantomath Capital Advisors Private Limited 103 1678.62 16.30 10.65 8.87 Mumbai
Aryaman Financial Services Limited 83 1122.40 13.52 4.91 4.75 New Delhi
Beeline Capital Advisors Private Limited 62 1637.01 26.40 49.59 172.84 Ahmedabad
First Overseas Capital Limited 51 864.46 16.95 5.74 7.52 Mumbai
Sarthi Capital Advisors Private Limited 48 745.76 15.54 17.59 15.23 New Delhi
Guiness Corporate Advisors Private Limited 46 567.07 12.33 7.43 6.46 Kolkata
Gretex Corporate Services Limited 46 710.27 15.44 19.40 42.44 Mumbai
Finshore Management Services Limited 44 540.15 12.28 21.34 57.77 Kolkata
Shreni Shares Limited 42 710.57 16.92 42.03 118.19 Mumbai
Fedex Securities Private Limited 41 832.85 20.31 17.99 63.61 Mumbai
Inventure Merchant Banker Services Private Limited 31 353.97 11.42 23.88 6.06 Mumbai
Swastika Investmart Limited 30 397.28 13.24 14.50 57.80 Mumbai
GYR Capital Advisors Private Limited 30 804.00 26.80 94.09 377.71 Ahmedabad
Corporate Capital Ventures Private Limited 23 818.94 35.61 93.50 193.97 New Delhi
Navigant Corporate Advisors Limited 21 222.21 10.58 5.39 6.43 Mumbai
Interactive Financial Services Limited 19 608.73 32.04 9.20 46.75 Ahmedabad
Share India Capital Services Private Limited 13 407.70 31.36 43.57 117.42 Noida
Holani Consultants Private Limited 13 273.72 21.06 88.02 234.38 Jaipur
Fast Track Finsec Private Limited 12 203.63 16.97 28.38 32.75 New Delhi
Monarch Networth Capital Limited 12 195.39 16.28 6.77 6.84 Gandhinagar
Expert Global Consultants Private Limited 11 292.51 26.59 37.83 74.40 New Delhi
Narnolia Financial Services Limited 11 382.94 34.81 42.75 231.53 Kolkata
Unistone Capital Private Limited 10 266.82 26.68 22.44 59.33 Mumbai
Mark Corporate Advisors Private Limited 9 221.45 24.61 3.66 17.72 Mumbai
Choice Capital Advisors Private Limited 8 290.77 36.35 14.73 72.64
Isk Advisors Private Limited 8 181.50 22.69 23.74 42.11 Ahmedabad
Swaraj Shares and Securities Private Limited 7 208.45 29.78 43.70 70.64 Kolkata
Horizon Management Private Limited 7 360.14 51.45 25.30 203.77 Kolkata
Khambatta Securities Limited 7 111.88 15.98 72.32 132.45 Mumbai
Corporate Strategic Allianz Limited 7 157.36 22.48 7.02 0.00
Indorient Financial Services Limited 6 165.08 27.51 23.42 18.02 New Delhi
Keynote Financial Services Limited 6 142.29 23.72 25.62 0.27 Mumbai
Khandwala Securities Limited 5 137.09 27.42 46.72 281.61 Mumbai
Systematix Corporate Services Limited 5 138.67 27.73 11.39 1.30 Indore
Turnaround Corporate Advisors Private Limited 4 32.57 8.14 12.28 168.63 New Delhi
Affinity Global Capital Market Private Limited 4 118.47 29.62 26.85 67.22 Kolkata
Vivro Financial Services Private Limited 3 106.37 35.46 40.37 41.26 Ahmedabad
Capitalsquare Advisors Private Limited 3 12.73 4.24 2.51 2.46 Mumbai
Bcb Brokerage Private Limited 3 11.16 3.72 -5.67 0.36 Mumbai
Intensive Fiscal Services Private Limited 3 12.47 4.16 1.39 0.00
Arihant Capital Markets Limited 3 97.88 32.63 2.72 1.50 Mumbai
Sobhagya Capital Options Limited 3 8.12 2.71 14.39 0.00
Oneview Corporate Advisors Private Limited 3 66.53 22.18 71.91 113.17 kolkata
Srujan Alpha Capital Advisors Llp 3 76.78 25.59 14.01 87.79 Mumbai
Idbi Capital Market Services Limited 3 57.01 19.00 -5.84 0.00
Ekadrisht Capital Private Limited 3 138.33 46.11 148.53 295.70 Mumbai
Sun Capital Advisory Services (P) Limited 2 16.48 8.24 11.40 36.71 Mumbai
kunvarji finstock private limited 2 66.25 33.13 47.69 286.27 Ahmedabad
Chartered Capital And Investment Limited 2 46.22 23.11 -2.09 0.00 Ahmedabad
Comfort Securities Private Limited 2 47.83 23.92 80.95 85.67
Vc Corporate Advisors Private Limited 2 9.60 4.80 3.17 0.00
Boi Merchant Bankers Limited 2 38.30 19.15 -2.56 13.67 Mumbai
V B Desai Financial Services Limited 2 6.35 3.18 5.20 0.00
Corporate Strategic Allianz Limted 2 22.41 11.21 0.66 0.00
D And A Financial Services Private Limited 2 12.02 6.01 -3.14 0.97 New Delhi
Saffron Capital Advisors Private Limited 2 65.78 32.89 5.34 1.18 Mumbai
Ajcon Global Services Limited 2 31.91 15.96 0.50 0.59 Mumbai
Mehta Integrated Finance Limited 2 32.02 16.01 -1.46 0.59 Ahmedabad
Quintessence Enterprises Private Limited 2 13.38 6.69 -6.40 0.56 Hyderabad
Ckp Financial Services Private Limited 2 38.98 19.49 1.32 1.20 Mumbai
Navigant Corporate Advisors Ltd 1 6.15 6.15 5.76 10.26 Mumbai
SKI Capital Services Limited 1 19.46 19.46 34.40 202.32 New Delhi
Unicon Capital Services Private Limited 1 3.02 3.02 43.50 0.00
Basan Financial Services Limited 1 3.50 3.50 26.00 0.00
Kjmc Corporate Advisors (India) Limited 1 21.00 21.00 24.88 0.00
First Call India Equity Advisors Private Limited 1 5.05 5.05 0.56 0.00
Jawa Capital Services Private Limited 1 25.25 25.25 2.46 77.23 New Delhi
Kreo Capital Private Limited 1 11.44 11.44 13.15 20.21 Nagpur
Guiness Corporate Advisors Privated Limited 1 18.22 18.22 0.37 Kolkata
Corporate Professionals Capital Private Limited 1 22.08 22.08 152.00 53.94 New Delhi
Corpwis Advisors Private Limited 1 29.70 29.70 5.00 8.19 Mumbai
Pl Capital Markets Private Limited 1 35.52 35.52 -2.83 5.36 Mumbai
Vc Corporate Advisors Private Limited (Vcapl) 1 11.07 11.07 0.00 1.14 Kolkata
Karvy Investor Services Limited 1 3.58 3.58 6.88 0.00
Bonanza Portfolio Limited 1 10.62 10.62 0.28 1.34 New Delhi
Tipsons Consultancy Services Private Limited 1 25.50 25.50 2.52 0.00
Smc Capitals Limited 1 42.48 42.48 -4.92 1.21 New Delhi
Microsec Capital Limited 1 19.25 19.25 -10.91 0.00
Galactico Corporate Service Limited 1 10.83 10.83 -7.36 1.20 Nashik
Chartered Finance Management Limited 1 10.23 10.23 3.81 2.39 Mumbai
Sundae Capital Advisors 1 69.54 69.54 6.49 2.70 New Delhi
Asit C. Mehta Investment Interrmediates Limited 1 54.97 54.97 -17.00 1.64 Mumbai
Spa Capital Advisors Limited 1 6.00 6.00 -13.75 0.00 New Delhi
Skyline Financial Services Private Limited 1 13.87 13.87 20.00 0.00 New Delhi
Nirbhay Capital Services Private Limited 1 38.40 38.40 -6.67 33.60 Ahmedabad

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