Finshore Management Services Ltd.
IPOs where Finshore Management Services Ltd. acted as a book-running lead manager, with each issue’s size and listing outcome.
Track record on ipostation
ipostation's database lists Finshore Management Services Ltd. as a book-running lead manager on 6 IPOs: all of them SME issues. Bidding dates recorded here run from Jun 2026 to Sept 2026. Of these, 6 have listed. Finshore Management Services Ltd. was the only lead manager named on every one of them.
Issue size is recorded for all 6 IPOs. They range from ₹10.54 Cr (Dudani Retail) to ₹84.08 Cr (Leapfrog Engineering), with a median of ₹24.95 Cr. The 6 listed issues with a recorded size total ₹234.33 Cr; sizes for issues that have not listed are the amounts stated in their offer documents.
A listing-day change is recorded for 6 listed issues: 2 above and 4 below the issue price. The median change was -4.1%, from -17.5% (Himalayan Solar) to +89.8% (Sollfege Smart Electronics). These are past listing outcomes and say nothing about how a future issue will list.
Final overall subscription is recorded for all 6 issues whose bidding has closed. The median was 2.09x, ranging from 1.19x (Himalayan Solar) to 4.95x (Sampark India Logistics).
IPOs with Finshore Management Services Ltd. as lead manager
| IPO | Board | Status | Open date | Issue size | Price | Subscription | Listing gain |
|---|---|---|---|---|---|---|---|
| Sollfege Smart Electronics | SME | Listed | 30 Sept 2026 | ₹21.78 Cr | ₹55 | 2.14x | +89.8% |
| Dudani Retail | SME | Listed | 25 Sept 2026 | ₹10.54 Cr | ₹29 | 1.42x | -13.8% |
| Himalayan Solar | SME | Listed | 25 Sept 2026 | ₹68.03 Cr | ₹103 | 1.19x | -17.5% |
| Skytech Infinite Platform | SME | Listed | 14 Aug 2026 | ₹22.68 Cr | ₹77 | 2.04x | -3.9% |
| Sampark India Logistics | SME | Listed | 30 Jun 2026 | ₹27.22 Cr | ₹84 | 4.95x | +6.0% |
| Leapfrog Engineering | SME | Listed | 17 Jun 2026 | ₹84.08 Cr | ₹23 | 2.7x | -4.3% |
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. For SME issues, Chapter IX of the same regulations adds underwriting (Regulation 260) and post-listing market-making (Regulation 261) obligations that the lead manager must arrange.