224  Total SME IPOs listed in 2024

8429.51 Crs.  Total funds raised in 2024

204  SME IPOs listed with Gain in 2024

20  SME IPOs listed with loss in 2024

224  Total SME IPOs listed in 2024

8429.51 Crs.  Total funds raised in 2024

204  SME IPOs listed with Gain in 2024

20  SME IPOs listed with loss in 2024

224  Total SME IPOs listed in 2024

8429.51 Crs.  Total funds raised in 2024

204  SME IPOs listed with Gain in 2024

20  SME IPOs listed with loss in 2024

224  Total SME IPOs listed in 2024

8429.51 Crs.  Total funds raised in 2024

204  SME IPOs listed with Gain in 2024

20  SME IPOs listed with loss in 2024

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List of Mainboard Merchant Bankers

Merchant bankers play a crucial role in the IPO process in India, serving as financial advisors and facilitators for companies looking to go public. They help businesses with IPO preparation, including due diligence, document filing, and pricing. IPO advisors guide companies on valuation, structuring, and navigating regulatory approvals. Merchant bankers are appointed by companies to manage the IPO process, ensuring compliance with SEBI regulations. They act as intermediaries between the issuer and investors. Multiple merchant bankers are often involved in an IPO, serving as Book Running Lead Managers (BRLMs) to ensure successful listing and capital raising. Below is a list of merchant bankers in mainboard IPOs, showcasing their role in facilitating smooth IPO execution.

Merchant Banker No of IPOs so far Total funds raised (Cr.) Avg IPO size (Cr.) Avg Listing Gain (%) Avg Subscription (X)
Kotak Mahindra Capital Company Limited 11 57096.38 5190.58 220.65 6.03 Connect
Unistone Capital Private Limited 11 2059.30 187.21 230.52 78.64 Connect
SBI Capital Markets Limited 11 11348.36 1031.67 109.01 16.70 Connect
Keynote Financial Services Limited 10 396.70 39.67 80.63 5.11 Connect
Anand Rathi Securities Limited 10 874.04 87.40 170.23 35.66 Connect
Chartered Capital And Investment Limited 8 438.09 54.76 69.80 3.35 Connect
Srei Capital Markets Limited 7 304.10 43.44 92.50 0.21 Connect
Axis Capital Limited 7 14676.47 2096.64 201.01 1.18 Connect
Ashika Capital Limited 7 211.77 30.25 28.76 2.39 Connect
Almondz Global Securities Limited 7 612.58 87.51 163.60 2.22 Connect
Pantomath Capital Advisors Private Limited 7 1359.97 194.28 121.69 105.74 Connect
ICICI Securities Limited 7 14758.15 2108.31 78.54 10.75 Connect
Aryaman Financial Services Limited 6 1290.00 215.00 285.00 63.54 Connect
Iti Capital Limited 5 6074.49 1214.90 203.96 31.08 Connect
Saffron Capital Advisors Private Limited 5 512.38 102.48 122.34 11.94 Connect
Iifl Securities Limited 5 7425.25 1485.05 147.07 23.87 Connect
Motilal Oswal Investment Advisors Limited 5 3418.10 683.62 263.33 40.00 Connect
Smart Horizon Capital Advisors Private Limited 5 161.24 32.25 91.97 0.00 Connect
Morgan Stanley India Company Private Limited 4 34499.26 8624.82 5.45 7.25 Connect
J.P. Morgan India Private Limited 4 52867.39 13216.85 -2.39 2.29 Connect
Karvy Investor Services Limited 4 319.22 79.81 173.98 1.54 Connect
Jefferies India Private Limited 4 23185.47 5796.37 18.19 22.25 Connect
Edelweiss Financial Services Limited 4 433.90 108.48 416.71 0.00 Connect
Intensive Fiscal Services Private Limited 3 4463.34 1487.78 164.31 28.74 Connect
Uti Securities Limited 3 216.10 72.03 193.80 0.00 Connect
Citigroup Global Markets India Private Limited 3 39443.66 13147.89 329.08 1.99 Connect
Il&Fs Investsmart Securities Limited 3 280.64 93.55 294.73 0.00 Connect
Jm Morgan Stanley Private Limited 3 3309.17 1103.06 183.64 0.96 Connect
Arihant Capital Markets Limited 3 171.65 57.22 94.40 6.61 Connect
Nuvama Wealth Management Limited 3 9830.00 3276.67 1.11 10.17 Connect
Equirus Capital Private Limited 3 1266.79 422.26 123.70 7.00 Connect
Collins Stewart Inga Private Limited 2 146.28 73.14 152.35 0.59 Connect
D And A Financial Services Private Limited 2 156.00 78.00 188.88 1.59 Connect
Nomura Financial Advisory And Securities (India) Private Limited 2 9751.44 4875.72 28.99 41.11 Connect
Hdfc Bank Limited 2 2397.40 1198.70 40.36 30.83 Connect
Axis Bank Limited 2 4455.31 2227.66 104.92 39.72 Connect
Fedex Securities Private Limited 2 484.04 242.02 11.01 89.27 Connect
Allahabad Bank 2 205.93 102.97 99.68 0.00 Connect
Khambatta Securities Limited 2 393.41 196.71 360.88 198.13 Connect
Avendus Capital Private Limited 1 11327.43 11327.43 16.91 3.59 Connect
Fortune Financial Services (India) Limited 1 33.50 33.50 89.95 0.00 Connect
Vivro Financial Services Private Limited 1 91.70 91.70 225.95 0.00 Connect
Idbi Capital Market Services Limited 1 31.20 31.20 47.25 0.00 Connect
PL Capital Markets Private Limited 1 167.93 167.93 787.05 201.41 Connect
Bob Capital Markets Limited 1 75.00 75.00 257.95 0.00 Connect
A.K. Capital Services Limited 1 23.50 23.50 20.95 0.00 Connect
Ubs Securities India Private Limited 1 11563.20 11563.20 -17.22 0.00 Connect
Kjmc Corporate Advisors (India) Limited 1 22.50 22.50 30.25 0.00 Connect
Hem Securities Limited 1 150.84 150.84 31.21 224.05 Connect
Holani Consultants Private Limited 1 341.95 341.95 117.48 213.41 Connect
Corpwis Advisors Private Limited 1 264.10 264.10 12.45 7.55 Connect
Hsbc Securities & Capital Markets Private limited 1 27870.16 27870.16 -7.12 2.37 Connect
Dam Capital Advisors Limited (Formerly Idfc Securities Limited) 1 5430.00 5430.00 2.49 2.77 Connect
Almondz Financial Services Limited 1 4321.44 4321.44 55.48 79.44 Connect
Vc Corporate Advisors Private Limited 1 48.75 48.75 68.95 2.97 Connect
Sarthi Capital Advisors Private Limited 1 35.87 35.87 259.15 273.05 Connect
Corporate Strategic Allianz Limited 1 29.60 29.60 23.00 1.18 Connect
Atherstone Capital Markets Limited 1 36.85 36.85 145.90 1.53 Connect
Corporate Capitalventures Private Limited 1 60.00 60.00 84.00 7.67 Connect
Systematix Corporate Services Limited 1 200.00 200.00 160.40 3.53 Connect
Smc Capitals Limited 1 165.42 165.42 351.75 16.31 Connect
Indbank Merchant Banking Services Limited 1 29.48 29.48 140.90 1.57 Connect
Comfort Securities Private Limited 1 73.60 73.60 80.05 2.22 Connect
Elara Capital (India) Private Limited 1 214.76 214.76 304.45 154.84 Connect
Spa Capital Advisors Limited 1 105.00 105.00 104.75 2.35 Connect
Comfort Securities Limited 1 63.75 63.75 56.90 1.74 Connect
Jm Financial Limited 1 525.14 525.14 200.75 8.52 Connect
Religare Securities Limited 1 139.90 139.90 500.65 0.00 Connect
Inga Ventures Private Limited 1 300.13 300.13 712.30 13.49 Connect
Interactive Financial Services Limited 1 130.20 130.20 236.20 86.57 Connect
Gretex Corporate Services Limited 1 132.00 132.00 131.95 54.49 Connect

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