Equirus Capital Ltd.
IPOs where Equirus 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 Equirus Capital Ltd. as a book-running lead manager on 5 IPOs: all of them mainboard issues. Bidding dates recorded here run from Jun 2026 to Sept 2026. Of these, 5 have listed. It was the sole lead manager on 1 of the 5 and shared the mandate with other merchant bankers on the rest.
Issue size is recorded for all 5 IPOs. They range from ₹414 Cr (Steamhouse) to ₹22,562.71 Cr (NSE), with a median of ₹1,101.28 Cr. The 5 listed issues with a recorded size total ₹26,408.61 Cr; sizes for issues that have not listed are the amounts stated in their offer documents.
A listing-day change is recorded for 5 listed issues: 5 above the issue price. The median change was +14.8%, from +0.8% (NSE) to +43.4% (CMR Green Technologies). These are past listing outcomes and say nothing about how a future issue will list.
Final overall subscription is recorded for all 5 issues whose bidding has closed. The median was 32.07x, ranging from 5.71x (NSE) to 127.07x (CMR Green Technologies).
Equirus Capital Ltd. has worked alongside 18 other lead managers on these issues. The 5 most frequent, by number of shared issues:
- Motilal Oswal Investment Advisors Ltd. — 3 shared issues
- Anand Rathi Advisors Ltd. — 2 shared issues
- ICICI Securities Ltd. — 2 shared issues
- 360 One WAM Ltd. — 1 shared issue
- Avendus Capital Pvt.Ltd. — 1 shared issue
IPOs with Equirus Capital Ltd. as lead manager
| IPO | Board | Status | Open date | Issue size | Price | Subscription | Listing gain |
|---|---|---|---|---|---|---|---|
| NSE | Mainboard | Listed | 17 Sept 2026 | ₹22,562.71 Cr | ₹1,785 | 5.71x | +0.8% |
| Steamhouse | Mainboard | Listed | 9 Sept 2026 | ₹414 Cr | ₹81 | 32.07x | +14.8% |
| Lalithaa Jewellery Mart | Mainboard | Listed | 17 Aug 2026 | ₹1,700 Cr | ₹201 | 66.63x | +32.0% |
| Lohia Corp | Mainboard | Listed | 23 Jul 2026 | ₹1,101.28 Cr | ₹425 | 7.26x | +8.2% |
| CMR Green Technologies | Mainboard | Listed | 3 Jun 2026 | ₹630.62 Cr | ₹192 | 127.07x | +43.4% |
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.