Merchant Bankers

IPO Lead Managers in India

The book-running lead managers (BRLMs) behind the IPOs we track, with each banker’s record — issues managed, funds raised, and how many of their listings debuted above the issue price.

Lead managerIPOs managedFunds raisedListed at premium
JM Financial Ltd.23₹45,911.07 Cr10/13 (77%)
Axis Capital Ltd.19₹41,217.11 Cr7/8 (88%)
IIFL Capital Services Ltd.18₹13,911.7 Cr6/7 (86%)
Kotak Mahindra Capital Co.Ltd.16₹41,823.41 Cr8/8 (100%)
Motilal Oswal Investment Advisors Ltd.15₹20,427.43 Cr7/9 (78%)
ICICI Securities Ltd.13₹30,529.41 Cr6/7 (86%)
Jefferies India Pvt.Ltd.10₹28,777.39 Cr4/5 (80%)
SBI Capital Markets Ltd.9₹25,941.05 Cr3/4 (75%)
HSBC Securities & Capital Markets (India) Pvt.Ltd.7₹16,612.91 Cr3/3 (100%)
GYR Capital Advisors Pvt.Ltd.7₹665.24 Cr7/7 (100%)
Corporate Makers Capital Ltd.7₹244.54 Cr1/5 (20%)
Goldman Sachs (India) Securities Pvt.Ltd.6₹15,925.22 Cr1/1 (100%)
Dam Capital Advisors Ltd.6₹2,870 Cr1/1 (100%)
Hem Securities Ltd.6₹595.81 Cr4/4 (100%)
BOFA Securities India Ltd.5₹11,430.39 Cr2/2 (100%)
JP Morgan India Pvt.Ltd.5₹11,075.22 Cr1/1 (100%)
Citigroup Global Markets India Pvt.Ltd.5₹7,900 Cr
UBS Securities India Pvt.Ltd.4₹11,755.22 Cr2/2 (100%)
Nomura Financial Advisory & Securities (India) Pvt.Ltd.4₹6,623.89 Cr1/2 (50%)
Smart Horizon Capital Advisors Pvt.Ltd.4₹561.11 Cr3/3 (100%)
Mefcom Capital Markets Ltd.4₹447.91 Cr0/1 (0%)
HDFC Bank Ltd.3₹8,811.21 Cr2/2 (100%)
360 One WAM Ltd.3₹5,666.93 Cr1/2 (50%)
Equirus Capital Ltd.3₹3,431.9 Cr3/3 (100%)
Nuvama Wealth Management Ltd.3₹3,380.74 Cr1/1 (100%)
Systematix Corporate Services Ltd.3₹1,461.33 Cr2/2 (100%)
Share India Capital Services Pvt.Ltd.3₹219.45 Cr3/3 (100%)
Horizon Management Pvt.Ltd.3₹149.78 Cr1/1 (100%)
Finshore Management Services Ltd.3₹133.98 Cr1/3 (33%)
Wealth Mine Networks Pvt.Ltd.3₹114.47 Cr0/3 (0%)
Marwadi Chandarana Intermediaries Brokers Pvt.Ltd.3₹97.4 Cr3/3 (100%)
Morgan Stanley India Co.Pvt.Ltd.3
Intensive Fiscal Services Pvt.Ltd.2₹7,475 Cr1/1 (100%)
InCred Capital Wealth Portfolio Managers Pvt.Ltd.2₹6,650 Cr
Ambit Pvt.Ltd.2₹5,000 Cr
Avendus Capital Pvt.Ltd.2₹4,237 Cr1/2 (50%)
IDBI Capital Markets & Securities Ltd.2₹1,172.68 Cr1/1 (100%)
Pantomath Capital Advisors Pvt.Ltd.2₹865.58 Cr2/2 (100%)
Emkay Global Financial Services Ltd.2₹761.34 Cr1/1 (100%)
Holani Consultants Pvt.Ltd.2₹747.96 Cr1/2 (50%)
PNB Investment Services Ltd.2₹521.03 Cr0/1 (0%)
Aryaman Financial Services Ltd.2₹384.17 Cr2/2 (100%)
Cumulative Capital Pvt.Ltd.2₹348.87 Cr1/1 (100%)
NEXGEN Financial Solutions Pvt.Ltd.2₹156.41 Cr2/2 (100%)
Choice Capital Advisors Pvt.Ltd.2₹141.67 Cr1/2 (50%)
Vivro Financial Services Pvt.Ltd.2₹129.67 Cr0/1 (0%)
Seren Capital Pvt.Ltd.2₹106.82 Cr2/2 (100%)
Affinity Global Capital Market Pvt.Ltd.2₹97.63 Cr0/2 (0%)
Rarever Financial Advisors Pvt.Ltd.2₹97.34 Cr2/2 (100%)
Interactive Financial Services Ltd.2₹55.55 Cr1/2 (50%)
DBS Bank India Ltd.1₹9,275.22 Cr1/1 (100%)
Anand Rathi Advisors Ltd.1₹1,700 Cr1/1 (100%)
Monarch Networth Capital Ltd.1₹700 Cr1/1 (100%)
Centrum Broking Ltd.1₹585 Cr0/1 (0%)
Shannon Advisors Pvt.Ltd.1₹582.8 Cr0/1 (0%)
Dolat Finserv Pvt.Ltd.1₹582.8 Cr0/1 (0%)
Valmiki Leela Capital Pvt.Ltd.1₹459.72 Cr
Centrum Capital Ltd.1₹351.03 Cr
Sundae Capital Advisors Pvt.Ltd.1₹290 Cr1/1 (100%)
Khambatta Securities Ltd.1₹251.88 Cr1/1 (100%)
BOI Merchant Bankers Ltd.1₹170 Cr0/1 (0%)
Keynote Financial Services Ltd.1₹145.78 Cr0/1 (0%)
Catalyst Capital Partners Pvt.Ltd.1₹138.87 Cr1/1 (100%)
New Berry Capitals Pvt.Ltd.1₹135.73 Cr1/1 (100%)
D&A Financial Services Pvt.Ltd.1₹126.25 Cr0/1 (0%)
LSI Financial Services Pvt.Ltd.1₹108.5 Cr1/1 (100%)
SKI Capital Services Ltd.1₹53.27 Cr0/1 (0%)
Corporate Capital Ventures Pvt.Ltd.1₹50.77 Cr1/1 (100%)
Galactico Corporate Services Ltd.1₹44.03 Cr1/1 (100%)
JJ IPO Advisors Pvt.Ltd.1₹42.34 Cr1/1 (100%)
Navigant Corporate Advisors Ltd.1₹40.48 Cr0/1 (0%)
Beeline Capital Advisors Pvt.Ltd.1₹39.69 Cr1/1 (100%)
Narnolia Financial Services Ltd.1₹39.04 Cr1/1 (100%)
Fedex Securities Pvt.Ltd.1₹34.98 Cr0/1 (0%)
Sobhagya Capital Options Pvt.Ltd.1₹34.17 Cr0/1 (0%)
Comfort Securities Ltd.1₹34.13 Cr0/1 (0%)
Socradamus Capital Pvt.Ltd.1₹32 Cr
Inventure Merchant Banker Services Pvt.Ltd.1₹31.47 Cr1/1 (100%)
Fintellectual Corporate Advisors Pvt.Ltd.1₹30.24 Cr1/1 (100%)
Mark Corporate Advisors Pvt.Ltd.1₹30.2 Cr0/1 (0%)
Unistone Capital Pvt.Ltd.1₹28.57 Cr0/1 (0%)
Khandwala Securities Ltd.1₹27.26 Cr0/1 (0%)
Wealth Mine Networks Ltd.1₹26.73 Cr0/1 (0%)
Novus Capital Advisors Pvt.Ltd.1₹26.14 Cr
Master Capital Services Ltd.1₹25 Cr1/1 (100%)
Sun Capital Advisory Services Pvt.Ltd.1₹24.04 Cr0/1 (0%)
Capital Square Advisors Pvt.Ltd.1₹24 Cr0/1 (0%)
Turnaround Corporate Advisors Pvt.Ltd.1₹23.71 Cr1/1 (100%)
Credora Partners Pvt.Ltd.1₹17.88 Cr
BNP Paribas1
CLSA India Pvt.Ltd.1

Based on the IPOs tracked on ipostation. “Listed at premium” counts issues whose debut price closed above the issue price.