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2022 MainBoard Merchant Bankers' report

Get detailed insights into year-wise Merchant Banker reviews with our comprehensive analysis of BRLMs (Book Running Lead Managers) for IPOs in India. This page highlights the performance and services provided by top merchant banking firms for each year, including 2024 merchant bankers, 2023 merchant bankers, and 2022 merchant bankers. Discover which merchant bankers excelled in facilitating IPOs, ensuring smooth execution, and delivering value to issuers and investors. Explore reviews of the best merchant bankers known for expertise in equity capital markets and regulatory compliance.

Merchant Banker	No of IPOs so far	Total funds raised (Cr.)	Avg IPO size (Cr.)	Avg Listing Gain (%)	Avg Subscription (X)	Location
Axis Capital Limited	13	35939.68	2764.59	511.22	16.89	Mumbai	Connect
Iifl Securities Limited	13	15020.21	1155.40	390.63	19.80	Mumbai	Connect
Jm Financial Limited	13	34271.36	2636.26	366.99	26.38	Mumbai	Connect
ICICI Securities Limited	12	18683.59	1556.97	457.92	10.28	Mumbai	Connect
Kotak Mahindra Capital Company Limited	10	39891.88	3989.19	488.37	10.76	Mumbai	Connect
Equirus Capital Private Limited	4	2595.71	648.93	392.59	33.54	Mumbai	Connect
SBI Capital Markets Limited	4	27618.05	6904.51	588.18	2.79	Mumbai	Connect
Bofa Securities India Limited	4	31243.62	7810.91	514.13	18.43	Mumbai	Connect
Edelweiss Financial Services Limited	4	5982.64	1495.66	422.61	18.65	Mumbai	Connect
Dam Capital Advisors Limited (Formerly Idfc Securities Limited)	4	3273.43	818.36	400.45	23.41	Mumbai	Connect
Credit Suisse Securities (India) Private Limited	3	6440.57	2146.86	412.88	9.65	Mumbai	Connect
Clsa India Private Limited	3	3464.48	1154.83	344.88	19.01	Mumbai	Connect
Hdfc Bank Limited	3	5088.04	1696.01	401.08	10.47	Mumbai	Connect
Nomura Financial Advisory And Securities (India) Private Limited	2	22601.93	11300.97	682.48	1.83	Mumbai	Connect
Citigroup Global Markets India Private Limited	2	26243.48	13121.74	706.35	2.29	Mumbai	Connect
J.P. Morgan India Private Limited	2	3080.85	1540.43	407.05	7.51	Mumbai	Connect
Motilal Oswal Investment Advisors Limited	2	1369.94	684.97	485.55	29.77	Mumbai	Connect
Corporate Capitalventures Private Limited	1	60.00	60.00	84.00	7.67	New Delhi	Connect
Systematix Corporate Services Limited	1	200.00	200.00	160.40	3.53	Gwalior	Connect
Bnp Paribas	1	3600.00	3600.00	265.20	17.37	Mumbai	Connect
Iti Capital Limited	1	130.05	130.05	224.70	7.93	Mumbai	Connect
Goldman Sachs (India) Securities Private Limited	1	21008.48	21008.48	875.45	2.95	Mumbai	Connect
Morgan Stanley India Company Private Limited	1	5235.00	5235.00	537.25	1.63	Mumbai	Connect
Smc Capitals Limited	1	165.42	165.42	351.75	16.31	New Delhi	Connect
Emkay Global Financial Services Limited	1	472.29	472.29	802.60	1.04	Mumbai	Connect
Incred Capital Financial Services Private Limited	1	472.29	472.29	802.60	1.04	Mumbai	Connect
Indorient Financial Services Limited	1	412.79	412.79	258.85	2.72	New Delhi	Connect
Yes Securities (India) Limited	1	412.79	412.79	258.85	2.72	Mumbai	Connect
Anand Rathi Securities Limited	1	500.00	500.00	84.45	71.93	Mumbai	Connect
Saffron Capital Advisors Private Limited	1	500.00	500.00	207.00	69.79	New Delhi	Connect
Jefferies India Private Limited	1	2205.57	2205.57	415.65	9.58	Mumbai	Connect
Intensive Fiscal Services Private Limited	1	881.22	881.22	317.45	26.67	Mumbai	Connect
Idbi Capital Market Services Limited	1	740.00	740.00	59.10	1.55	Mumbai	Connect
Monarch Networth Capital Limited	1	251.15	251.15	266.40	35.49	Ahmedabad	Connect
Elara Capital (India) Private Limited	1	251.15	251.15	266.40	35.49	Mumbai	Connect
Aryaman Financial Services Limited	1	345.60	345.60	216.05	1.10	New Delhi	Connect

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2022 MainBoard Merchant Bankers' report

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how much funds you can raise through SME IPO