SBI Capital Markets Ltd.
IPOs where SBI Capital Markets Ltd. acted as a book-running lead manager, with each issue’s size and listing outcome.
Track record on ipostation
ipostation's database lists SBI Capital Markets Ltd. as a book-running lead manager on 11 IPOs: all of them mainboard issues. Bidding dates recorded here run from Dec 2024 to Oct 2026, and 4 issues have no bidding date recorded yet. Of these, 6 have listed, 1 is between scheduling and listing and 4 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 9 of the 11 IPOs. They range from ₹572 Cr (One Mobikwik Systems) to ₹30,213 Cr (Jio Platforms), with a median of ₹3,066.89 Cr. The 6 listed issues with a recorded size total ₹20,571.07 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: 5 above and 1 below the issue price. The median change was +21.7%, from -0.6% (Horizon Industrial Parks) to +58.5% (One Mobikwik Systems). These are past listing outcomes and say nothing about how a future issue will list.
Final overall subscription is recorded for 5 of the 6 issues whose bidding has closed. The median was 41.73x, ranging from 1.52x (Horizon Industrial Parks) to 75.06x (Dhoot Transmission).
Currently between scheduling and listing: Jio Platforms.
SBI Capital Markets Ltd. has worked alongside 22 other lead managers on these issues. The 5 most frequent, by number of shared issues:
- Axis Capital Ltd. — 9 shared issues
- ICICI Securities Ltd. — 6 shared issues
- JM Financial Ltd. — 5 shared issues
- BOFA Securities India Ltd. — 4 shared issues
- Goldman Sachs (India) Securities Pvt.Ltd. — 4 shared issues
IPOs with SBI Capital Markets Ltd. as lead manager
| IPO | Board | Status | Open date | Issue size | Price | Subscription | Listing gain |
|---|---|---|---|---|---|---|---|
| Avaada Electro | Mainboard | Announced | — | ₹1,600 Cr | — | — | — |
| Garuda Aerospace | Mainboard | Announced | — | — | — | — | — |
| OYO | Mainboard | Announced | — | ₹6,650 Cr | — | — | — |
| PGP Glass | Mainboard | Announced | — | — | — | — | — |
| Jio Platforms | Mainboard | Upcoming | 21 Oct 2026 | ₹30,213 Cr | ₹1,119 | — | — |
| Varmora Granito | Mainboard | Listed | 22 Sept 2026 | ₹708.02 Cr | ₹148 | 1.6x | +2.7% |
| Horizon Industrial Parks | Mainboard | Listed | 17 Aug 2026 | ₹2,600.04 Cr | ₹60 | 1.52x | -0.6% |
| Dhoot Transmission | Mainboard | Listed | 10 Aug 2026 | ₹3,066.89 Cr | ₹871 | 75.06x | +37.1% |
| 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% |
| One Mobikwik Systems | Mainboard | Listed | 11 Dec 2024 | ₹572 Cr | ₹279 | — | +58.5% |
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 | 6 | 6 | 0 | ₹50,212.07 Cr | +6.3% (5 listed) |
| 2024 | 1 | 1 | 0 | ₹572 Cr | +58.5% (1 listed) |
| Not yet scheduled | 4 | 4 | 0 | ₹8,250 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.