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Top SME Merchant Bankers in India 2022

Get detailed insights into year-wise Merchant Banker reviews with our comprehensive analysis of BRLMs (Book Running Lead Managers) for SME 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 played a key role in helping SMEs raise capital, navigate regulatory processes, and achieve successful listings. Explore reviews of the best merchant bankers known for their expertise in SME IPO advisory and capital market strategies tailored for growing businesses.

Merchant Banker	No of IPOs so far	Total funds raised (Cr.)	Avg IPO size (Cr.)	Avg Listing Gain (%)	Avg Subscription (X)	Location
Finshore Management Services Limited	15	153.37	10.22	39.43	90.84	Kolkata	Connect
Shreni Shares Limited	11	103.06	9.37	52.47	160.90	Mumbai	Connect
Hem Securities Limited	11	169.47	15.41	61.67	94.84	Jaipur	Connect
GYR Capital Advisors Private Limited	9	66.83	7.43	30.76	65.02	Ahmedabad	Connect
First Overseas Capital Limited	7	164.15	23.45	14.23	7.50	Mumbai	Connect
Gretex Corporate Services Limited	7	101.41	14.49	18.49	5.29	Mumbai	Connect
Beeline Capital Advisors Private Limited	7	195.77	27.97	26.20	26.95	Ahmedabad	Connect
Fedex Securities Private Limited	6	126.39	21.07	19.16	36.48	Mumbai	Connect
Aryaman Financial Services Limited	5	93.19	18.64	9.14	7.23	New Delhi	Connect
Interactive Financial Services Limited	5	247.02	49.40	-10.76	1.61	Ahmedabad	Connect
Swastika Investmart Limited	4	42.40	10.60	7.62	11.39	Mumbai	Connect
Corporate Capital Ventures Private Limited	4	155.84	38.96	94.20	135.68	New Delhi	Connect
Fast Track Finsec Private Limited	3	77.35	25.78	16.77	5.99	New Delhi	Connect
Expert Global Consultants Private Limited	2	33.35	16.68	2.97	3.31	New Delhi	Connect
Unistone Capital Private Limited	2	60.94	30.47	32.07	54.14	Mumbai	Connect
Inventure Merchant Banker Services Private Limited	2	18.12	9.06	-3.28	1.43	Mumbai	Connect
Sarthi Capital Advisors Private Limited	2	73.17	36.59	64.99	33.70	Mumbai	Connect
Holani Consultants Private Limited	2	33.79	16.90	54.67	100.35	Jaipur	Connect
Isk Advisors Private Limited	2	18.87	9.44	36.00	46.62	Ahmedabad	Connect
Systematix Corporate Services Limited	1	19.41	19.41	19.19	2.28	Gwalior	Connect
Navigant Corporate Advisors Limited	1	4.50	4.50	-12.50	5.91	Mumbai	Connect
Sun Capital Advisory Services (P) Limited	1	4.00	4.00	5.00	26.31	Mumbai	Connect
Pantomath Capital Advisors Private Limited	1	10.09	10.09	15.43	13.46	Mumbai	Connect

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Top SME Merchant Bankers in India 2022

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