Khambatta Securities Ltd.
IPOs where Khambatta Securities Ltd. acted as a book-running lead manager, with each issue’s size and listing outcome.
Track record on ipostation
ipostation's database lists Khambatta Securities Ltd. as a book-running lead manager on 3 IPOs: 2 mainboard issues and 1 SME issue. Bidding dates recorded here run from Aug 2026 to Sept 2026. Of these, 3 have listed. It was the sole lead manager on 2 of the 3 and shared the mandate with other merchant bankers on the rest.
Issue size is recorded for all 3 IPOs. They range from ₹55.08 Cr (Black Opal Consultants) to ₹405 Cr (A-One Steels), with a median of ₹251.88 Cr. The 3 listed issues with a recorded size total ₹711.96 Cr; sizes for issues that have not listed are the amounts stated in their offer documents.
A listing-day change is recorded for 3 listed issues: 3 above the issue price. The median change was +14.1%, from +1.5% (Black Opal Consultants) to +34.4% (Technocraft Ventures). These are past listing outcomes and say nothing about how a future issue will list.
Final overall subscription is recorded for all 3 issues whose bidding has closed. The median was 38.69x, ranging from 12.23x (A-One Steels) to 73.8x (Black Opal Consultants).
Khambatta Securities Ltd. has worked alongside 1 other lead manager on these issues. The co-manager, with the number of shared issues:
- PL Capital Markets Pvt.Ltd. — 1 shared issue
IPOs with Khambatta Securities Ltd. as lead manager
| IPO | Board | Status | Open date | Issue size | Price | Subscription | Listing gain |
|---|---|---|---|---|---|---|---|
| Black Opal Consultants | SME | Listed | 29 Sept 2026 | ₹55.08 Cr | ₹197 | 73.8x | +1.5% |
| A-One Steels | Mainboard | Listed | 24 Sept 2026 | ₹405 Cr | ₹405 | 12.23x | +14.1% |
| Technocraft Ventures | Mainboard | Listed | 7 Aug 2026 | ₹251.88 Cr | ₹212 | 38.69x | +34.4% |
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. 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.