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Top SME Merchant Bankers in India 2024

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
Hem Securities Limited	29	1514.96	52.24	53.82	194.87	Jaipur	Connect
Beeline Capital Advisors Private Limited	26	1215.12	46.74	101.45	367.54	Ahmedabad	Connect
GYR Capital Advisors Private Limited	17	738.81	43.46	133.58	712.10	Ahmedabad	Connect
Shreni Shares Limited	14	379.94	27.14	47.06	167.11	Mumbai	Connect
Fedex Securities Private Limited	13	267.90	20.61	32.14	177.07	Mumbai	Connect
Expert Global Consultants Private Limited	9	245.01	27.22	59.75	148.30	New Delhi	Connect
Horizon Management Private Limited	9	423.56	47.06	29.32	232.03	Kolkata	Connect
Narnolia Financial Services Limited	9	334.82	37.20	36.57	229.73	Kolkata	Connect
Khandwala Securities Limited	9	277.77	30.86	27.82	231.33	Mumbai	Connect
Gretex Corporate Services Limited	8	288.10	36.01	36.13	159.98	Mumbai	Connect
Swastika Investmart Limited	8	198.92	24.87	42.45	214.61	Mumbai	Connect
Corporate Capital Ventures Private Limited	7	356.96	50.99	175.65	424.43	New Delhi	Connect
Share India Capital Services Private Limited	7	347.17	49.60	69.73	229.55	Noida	Connect
Interactive Financial Services Limited	7	210.66	30.09	31.68	115.44	Ahmedabad	Connect
Finshore Management Services Limited	6	104.95	17.49	36.36	226.28	Kolkata	Connect
Inventure Merchant Banker Services Private Limited	6	149.99	25.00	15.82	13.76	Mumbai	Connect
Choice Capital Advisors Private Limited	4	241.00	60.25	34.08	145.28	Mumbai	Connect
Srujan Alpha Capital Advisors Llp	4	95.84	23.96	19.43	160.55	Mumbai	Connect
Isk Advisors Private Limited	4	246.23	61.56	44.02	69.34	Ahmedabad	Connect
Holani Consultants Private Limited	4	97.78	24.45	137.25	530.58	Jaipur	Connect
Fast Track Finsec Private Limited	4	104.61	26.15	15.83	57.68	New Delhi	Connect
Unistone Capital Private Limited	4	257.15	64.29	27.45	133.24	Mumbai	Connect
Jawa Capital Services Private Limited	3	74.07	24.69	-11.38	57.25	New Delhi	Connect
Ekadrisht Capital Private Limited	3	138.33	46.11	148.53	295.70	Mumbai	Connect
Corpwis Advisors Private Limited	3	139.27	46.42	-3.10	44.35	Mumbai	Connect
Swaraj Shares and Securities Private Limited	3	135.77	45.26	55.06	65.61	Kolkata	Connect
Indorient Financial Services Limited	2	144.01	72.01	68.19	100.55	New Delhi	Connect
SKI Capital Services Limited	2	55.36	27.68	47.23	136.06	New Delhi	Connect
kunvarji finstock private limited	2	66.25	33.13	47.69	286.27	Ahmedabad	Connect
Cumulative Capital Private Limited	2	118.62	59.31	34.69	15.92	Mumbai	Connect
Vivro Financial Services Private Limited	2	199.93	99.97	70.59	263.06	Ahmedabad	Connect
Turnaround Corporate Advisors Private Limited	2	23.06	11.53	21.79	350.27	New Delhi	Connect
Aryaman Financial Services Limited	2	38.48	19.24	6.90	10.89	New Delhi	Connect
First Overseas Capital Limited	2	89.30	44.65	-10.04	78.68	Mumbai	Connect
Affinity Global Capital Market Private Limited	2	74.33	37.17	41.74	44.50	Kolkata	Connect
Oneview Corporate Advisors Private Limited	2	49.59	24.80	97.86	168.89	kolkata	Connect
Kreo Capital Private Limited	1	11.44	11.44	13.15	20.21	Nagpur	Connect
Khambatta Securities Limited	1	22.76	22.76	280.75	393.67	Mumbai	Connect
Corporate Professionals Capital Private Limited	1	22.08	22.08	152.00	53.94	New Delhi	Connect
Comfort Securities Private Limited	1	39.83	39.83	15.65	171.33	Mumbai	Connect
Navigant Corporate Advisors Limited	1	12.09	12.09	45.56	71.28	Mumbai	Connect
Pantomath Capital Advisors Private Limited	1	150.00	150.00	10.76		Mumbai	Connect
Sun Capital Advisory Services (P) Limited	1	12.48	12.48	17.79	47.10	Mumbai	Connect
3Dimesnion Capital Services Limited	1	25.99	25.99	9.68	8.32	New Delhi	Connect
Mark Corporate Advisors Private Limited	1	99.07	99.07	99.49	125.35	Mumbai	Connect
Marwadi Chandarana Intermediaries Brokers Private Limited	1	6.22	6.22	99.49	1057.00	Rajkot	Connect
Socradamus Capital Private Limited	1	19.95	19.95	75.93	544.28	Mumbai	Connect

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Top SME Merchant Bankers in India 2024

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