Axis Capital Ltd.
IPOs where Axis Capital Ltd. acted as a book-running lead manager, with each issue’s size and listing outcome.
Track record on ipostation
ipostation's database lists Axis Capital Ltd. as a book-running lead manager on 24 IPOs: all of them mainboard issues. Bidding dates recorded here run from Jul 2026 to Oct 2026, and 9 issues have no bidding date recorded yet. Of these, 13 have listed, 2 are between scheduling and listing and 9 are at the draft-filing (announced) stage. It shared every one of these mandates with at least one other lead manager.
Issue size is recorded for 18 of the 24 IPOs. They range from ₹650.36 Cr (Kusumgar) to ₹30,213 Cr (Jio Platforms), with a median of ₹2,075.57 Cr. The 13 listed issues with a recorded size total ₹58,782.07 Cr; sizes for issues that have not listed are the amounts stated in their offer documents.
A listing-day change is recorded for 13 listed issues: 10 above and 3 below the issue price. The median change was +17.9%, from -6.3% (Pernia's Pop-up Studio) to +63.6% (Moneyview). These are past listing outcomes and say nothing about how a future issue will list.
Final overall subscription is recorded for all 13 issues whose bidding has closed. The median was 59.08x, ranging from 1.36x (Pernia's Pop-up Studio) to 135.8x (Kusumgar).
Currently between scheduling and listing: Jio Platforms and Bonfiglioli Transmissions.
Axis Capital Ltd. has worked alongside 29 other lead managers on these issues. The 5 most frequent, by number of shared issues:
- IIFL Capital Services Ltd. — 12 shared issues
- JM Financial Ltd. — 10 shared issues
- Kotak Mahindra Capital Co.Ltd. — 10 shared issues
- ICICI Securities Ltd. — 9 shared issues
- SBI Capital Markets Ltd. — 9 shared issues
IPOs with Axis Capital Ltd. as lead manager
| IPO | Board | Status | Open date | Issue size | Price | Subscription | Listing gain |
|---|---|---|---|---|---|---|---|
| Avaada Electro | Mainboard | Announced | — | ₹1,600 Cr | — | — | — |
| EAAA India Alternatives (Edelweiss) | Mainboard | Announced | — | ₹1,500 Cr | — | — | — |
| Eastman Auto & Power | Mainboard | Announced | — | — | — | — | — |
| Garuda Aerospace | Mainboard | Announced | — | — | — | — | — |
| OYO | Mainboard | Announced | — | ₹6,650 Cr | — | — | — |
| PGP Glass | Mainboard | Announced | — | — | — | — | — |
| PhonePe | Mainboard | Announced | — | — | — | — | — |
| Razorpay | Mainboard | Announced | — | — | — | — | — |
| Zepto | Mainboard | Announced | — | — | — | — | — |
| Jio Platforms | Mainboard | Upcoming | 21 Oct 2026 | ₹30,213 Cr | ₹1,119 | — | — |
| Bonfiglioli Transmissions | Mainboard | Open | 15 Oct 2026 | ₹2,533.66 Cr | ₹586 | — | — |
| Moneyview | Mainboard | Listed | 24 Sept 2026 | ₹1,091.68 Cr | ₹34 | 101.87x | +63.6% |
| NSE | Mainboard | Listed | 17 Sept 2026 | ₹22,562.71 Cr | ₹1,785 | 5.71x | +0.8% |
| Manipal Payment and Identity Solutions | Mainboard | Listed | 9 Sept 2026 | ₹805 Cr | ₹339 | 1.42x | -2.1% |
| Rentomojo | Mainboard | Listed | 9 Sept 2026 | ₹1,255.57 Cr | ₹404 | 72.89x | +18.8% |
| Pernia's Pop-up Studio | Mainboard | Listed | 31 Aug 2026 | ₹680 Cr | ₹575 | 1.36x | -6.3% |
| Horizon Industrial Parks | Mainboard | Listed | 17 Aug 2026 | ₹2,600.04 Cr | ₹60 | 1.52x | -0.6% |
| Shiprocket | Mainboard | Listed | 12 Aug 2026 | ₹1,617.48 Cr | ₹97 | 102.28x | +33.5% |
| Milky Mist Dairy Food | Mainboard | Listed | 11 Aug 2026 | ₹1,553 Cr | ₹140 | 59.08x | +17.9% |
| Dhoot Transmission | Mainboard | Listed | 10 Aug 2026 | ₹3,066.89 Cr | ₹871 | 75.06x | +37.1% |
| Manipal Health Enterprises | Mainboard | Listed | 29 Jul 2026 | ₹9,275.22 Cr | ₹590 | 5.12x | +11.0% |
| Indo-MIM | Mainboard | Listed | 23 Jul 2026 | ₹3,811.21 Cr | ₹485 | 72.37x | +45.0% |
| SBI Funds Management | Mainboard | Listed | 14 Jul 2026 | ₹9,812.91 Cr | ₹574 | 41.73x | +6.3% |
| Kusumgar | Mainboard | Listed | 8 Jul 2026 | ₹650.36 Cr | ₹419 | 135.8x | +37.0% |
Subscription is the final overall figure once bidding has closed; listing gain is the listing-day change against the issue price. “—” means not available.
Year by year
| Bidding year | IPOs | Mainboard | SME | Total issue size | Median listing gain |
|---|---|---|---|---|---|
| 2026 | 15 | 15 | 0 | ₹91,528.73 Cr | +17.9% (13 listed) |
| Not yet scheduled | 9 | 9 | 0 | ₹9,750 Cr | — |
What a book-running lead manager does
Under Regulation 23 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, an issuer must appoint one or more SEBI-registered merchant bankers, at least one of whom is a lead manager to the issue. When more than one merchant banker manages an issue, each one’s responsibilities for disclosures, allotment, refunds and underwriting are fixed in advance and set out in the draft offer document and the offer document.