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Year Wise Mainboard Merchant Bankers in India

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
Jm Financial Limited	16	41,587.19	2,599.20	9.88	32.56	Mumbai	Connect
Motilal Oswal Investment Advisors Limited	14	23,856.64	1,704.05	9.56	29.55	Mumbai	Connect
IIFL Securities Limited	12	27,096.03	2,258.00	6.24	25.41	Mumbai	Connect
ICICI Securities Limited	11	24,224.27	2,202.21	4.03	25.10	Mumbai	Connect
Axis Capital Limited	8	20,646.09	2,580.76	2.18	15.31	Mumbai	Connect
Nuvama Wealth Management Limited	8	18,691.31	2,336.41	7.43	31.89	Mumbai	Connect
Dam Capital Advisors Limited (Formerly Idfc Securities Limited)	8	8,224.38	1,028.05	4.01	21.58	Mumbai	Connect
Kotak Mahindra Capital Company Limited	8	18,396.21	2,299.53	-4.27	22.01	Mumbai	Connect
SBI Capital Markets Limited	7	16,192.35	2,313.19	3.33	40.24	Mumbai	Connect
Pantomath Capital Advisors Private Limited	5	1,658.35	331.67	13.94	113.50	Mumbai	Connect
Hsbc Securities & Capital Markets Private limited	5	23,642.36	4,728.47	5.29	21.27	Mumbai	Connect
Jefferies India Private Limited	4	21,750.00	5,437.50	2.67	17.80	Mumbai	Connect
Choice Capital Advisors Private Limited	4	1,121.92	280.48	13.99	73.67	Mumbai	Connect
Morgan Stanley India Company Private Limited	4	22,700.00	5,675.00	16.67	35.96	Mumbai	Connect
Nomura Financial Advisory And Securities (India) Private Limited	4	20,465.76	5,116.44	10.32	22.22	Mumbai	Connect
Systematix Corporate Services Limited	4	1,822.00	455.50	0.38	21.30	Gwalior	Connect
Citigroup Global Markets India Private Limited	3	10,495.00	3,498.33	8.20	26.79	Mumbai	Connect
Goldman Sachs (India) Securities Private Limited	3	18,000.00	6,000.00	24.93	44.95	Mumbai	Connect
Equirus Capital Private Limited	3	3,589.37	1,196.46	5.50	52.47	Mumbai	Connect
Bofa Securities India Limited	3	20,800.00	6,933.33	3.06	11.62	Mumbai	Connect
Monarch Networth Capital Limited	3	1,516.00	505.33	2.93	44.87	Ahmedabad	Connect
Beeline Capital Advisors Private Limited	3	681.60	227.20	8.93	96.18	Ahmedabad	Connect
Bnp Paribas	2	16,000.00	8,000.00	3.23	9.93	Mumbai	Connect
Ubs Securities India Private Limited	2	14,579.37	7,289.69	7.33	37.04	Mumbai	Connect
Axis Bank Limited	2	4,462.90	2,231.45	5.73	21.22	Ahmedabad	Connect
Anand Rathi Securities Limited	2	1,605.00	802.50	9.52	42.36	Mumbai	Connect
Hdfc Bank Limited	2	3,964.26	1,982.13	2.69	47.89	Mumbai	Connect
PL Capital Markets Private Limited	2	1,504.26	752.13	-3.13	9.31	Mumbai	Connect
J.P. Morgan India Private Limited	2	6,895.00	3,447.50	10.09	36.07	Mumbai	Connect
Unistone Capital Private Limited	2	1,049.35	524.68	1.63	1.86	Mumbai	Connect
Sumedha Fiscal Services Limited	1	306.00	306.00	38.24	159.87	Kolkata	Connect
PhillipCapital (India) Private Limited	1	2,079.37	2,079.37	1.81	56.42	Mumbai	Connect
Mefcom Capital Markets Limited	1	119.00	119.00	26.76	80.97	New Delhi	Connect
Fedex Securities Private Limited	1	242.76	242.76	17.65	95.69	Mumbai	Connect
Arihant Capital Markets Limited	1	148.50	148.50	5.96	102.24	Mumbai	Connect
GYR Capital Advisors Private Limited	1	116.11	116.11	3.31	65.09	Ahmedabad	Connect
Interactive Financial Services Limited	1	121.03	121.03	1.10	7.12	Ahmedabad	Connect
Intensive Fiscal Services Private Limited	1	280.00	280.00	13.20	8.62	Mumbai	Connect
Idbi Capital Market Services Limited	1	4,011.60	4,011.60	10.00	41.02	Mumbai	Connect
Smart Horizon Capital Advisors Private Limited	1	122.31	122.31	-39.63	3.88	Mumbai	Connect
Ambit Private Limited	1	900.00	900.00	0.00	6.93	Mumbai	Connect
Elara Capital (India) Private Limited	1	410.71	410.71	7.14	58.08	Mumbai	Connect
Clsa India Private Limited	1	1,387.34	1,387.34	3.26	34.42	Mumbai	Connect
Sarthi Capital Advisors Private Limited	1	231.66	231.66	-21.21	1.50	Mumbai	Connect
Batlivala & Karani Securities India Private Limited	1	2,000.00	2,000.00	2.27	3.03	Kolkata	Connect
Bob Capital Markets Limited	1	582.56	582.56	6.88	13.92	Mumbai	Connect

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