Cumulative Capital Pvt.Ltd.
IPOs where Cumulative Capital Pvt.Ltd. acted as a book-running lead manager, with each issue’s size and listing outcome.
Track record on ipostation
ipostation's database lists Cumulative Capital Pvt.Ltd. as a book-running lead manager on 2 IPOs: all of them mainboard issues. Bidding dates recorded here run from Jun 2026 to Sept 2026. Of these, 2 have listed. It was the sole lead manager on 1 of the 2 and shared the mandate with other merchant bankers on the rest.
Issue size is recorded for both IPOs. They range from ₹138.87 Cr (Hexagon Nutrition) to ₹210 Cr (Veegaland Developers), with a median of ₹174.44 Cr. The 2 listed issues with a recorded size total ₹348.87 Cr; sizes for issues that have not listed are the amounts stated in their offer documents.
A listing-day change is recorded for 2 listed issues: 2 above the issue price. The median change was +7.3%, from +6.7% (Hexagon Nutrition) to +7.9% (Veegaland Developers). These are past listing outcomes and say nothing about how a future issue will list.
Final overall subscription is recorded for both issues whose bidding has closed. The median was 34.14x, ranging from 14.6x (Veegaland Developers) to 53.68x (Hexagon Nutrition).
Cumulative Capital Pvt.Ltd. has worked alongside 1 other lead manager on these issues. The co-manager, with the number of shared issues:
- Catalyst Capital Partners Pvt.Ltd. — 1 shared issue
IPOs with Cumulative Capital Pvt.Ltd. as lead manager
| IPO | Board | Status | Open date | Issue size | Price | Subscription | Listing gain |
|---|---|---|---|---|---|---|---|
| Veegaland Developers | Mainboard | Listed | 10 Sept 2026 | ₹210 Cr | ₹140 | 14.6x | +7.9% |
| Hexagon Nutrition | Mainboard | Listed | 5 Jun 2026 | ₹138.87 Cr | ₹45 | 53.68x | +6.7% |
Subscription is the final overall figure once bidding has closed; listing gain is the listing-day change against the issue price. “—” means not available.
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.