114 Total SME IPOs listed in 2025

5,174.44 Crs. Total funds raised in 2025

79 SME IPOs listed with Gain in 2025

35 SME IPOs listed with loss in 2025

114 Total SME IPOs listed in 2025

5,174.44 Crs. Total funds raised in 2025

79 SME IPOs listed with Gain in 2025

35 SME IPOs listed with loss in 2025

114 Total SME IPOs listed in 2025

5,174.44 Crs. Total funds raised in 2025

79 SME IPOs listed with Gain in 2025

35 SME IPOs listed with loss in 2025

114 Total SME IPOs listed in 2025

5174.44 Crs. Total funds raised in 2,025.00

79 SME IPOs listed with Gain in 2025

35 SME IPOs listed with loss in 2025

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Summary

PE Ratio^*
Highest	86.45
Median	29.48
Lowest	5.53

IPO Size (Cr.)
Highest	18300.00
Median	1,995.71
Lowest	100.00

*IPOs with Extreme PE (50+) are excluded from the above calculations.
Above summary is for reference only as the same is based on the limited data set.

Mainboard Merchant Banker Performance Tracker 2021

IPO Performance of Merchant Bankers in India on NSE and BSE stock exchanges for Mainboard IPO 2021. List of merchant banks with number of IPO assisted, Total Fundraise, Average PE Ratio, IPO listed in Gain/loss and Current IPO Performance of the BRLM. Latest IPO Performance of Merchant banking company for IPO 2021. IPO Lead managers help business owners in the IPO Listing Process, Pre IPO Funding and IPO valuation for a Successful IPO Listing. Merchant Banker services guide the company in the IPO process and help in DRHP filing, RHP and Final Prospectus.

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Merchant Banker	No of IPOs so far	Total funds raised (Cr.)	Avg PE Ratio	IPO Listed in Gain/Loss	CMP vs Offer Price (Gain/Loss)	CMP vs Listing Price (Gain/Loss)
Axis Capital Limited	33.00	76,172.69	44.48	30 (91%) 3 (9%)	21 (64%) 12 (36%)	18 (55%) 15 (45%)
ICICI Securities Limited	27.00	59,644.83	50.17	26 (96%) 1 (4%)	15 (56%) 12 (44%)	12 (44%) 15 (56%)
IIFL Securities Limited	20.00	30,405.21	30.92	20 (100%) 0 (0%)	13 (65%) 7 (35%)	12 (60%) 8 (40%)
Jm Financial Limited	20.00	30,583.09	57.13	19 (95%) 1 (5%)	14 (70%) 6 (30%)	12 (60%) 8 (40%)
Kotak Mahindra Capital Company Limited	16.00	46,312.75	38.78	15 (94%) 1 (6%)	12 (75%) 4 (25%)	11 (69%) 5 (31%)
Edelweiss Financial Services Limited	10.00	21,558.48	40.88	9 (90%) 1 (10%)	6 (60%) 4 (40%)	6 (60%) 4 (40%)
SBI Capital Markets Limited	10.00	24,230.28	21.89	9 (90%) 1 (10%)	6 (60%) 4 (40%)	6 (60%) 4 (40%)
Citigroup Global Markets India Private Limited	9.00	55,622.92	61.05	8 (89%) 1 (11%)	5 (56%) 4 (44%)	6 (67%) 3 (33%)
Dam Capital Advisors Limited (Formerly Idfc Securities Limited)	9.00	15,498.38	49.18	8 (89%) 1 (11%)	7 (78%) 2 (22%)	6 (67%) 3 (33%)
Ambit Private Limited	7.00	18,049.20	43.67	6 (86%) 1 (14%)	4 (57%) 3 (43%)	4 (57%) 3 (43%)
Nomura Financial Advisory And Securities (India) Private Limited	7.00	9,398.73	81.06	7 (100%) 0 (0%)	5 (71%) 2 (29%)	3 (43%) 4 (57%)
Bofa Securities India Limited	6.00	28,331.21	72.62	6 (100%) 0 (0%)	3 (50%) 3 (50%)	3 (50%) 3 (50%)
Credit Suisse Securities (India) Private Limited	6.00	23,470.76	41.02	6 (100%) 0 (0%)	4 (67%) 2 (33%)	3 (50%) 3 (50%)
Equirus Capital Private Limited	6.00	5,235.12	52.84	5 (83%) 1 (17%)	5 (83%) 1 (17%)	4 (67%) 2 (33%)
Bob Capital Markets Limited	4.00	9,038.60	11.49	3 (75%) 1 (25%)	3 (75%) 1 (25%)	3 (75%) 1 (25%)
Hdfc Bank Limited	4.00	27,656.54	12.46	3 (75%) 1 (25%)	3 (75%) 1 (25%)	2 (50%) 2 (50%)
Hsbc Securities & Capital Markets Private limited	3.00	17,368.37	3.00	3 (100%) 0 (0%)	1 (33%) 2 (67%)	1 (33%) 2 (67%)
J.P. Morgan India Private Limited	3.00	14,350.00	26.29	3 (100%) 0 (0%)	2 (67%) 1 (33%)	2 (67%) 1 (33%)
Jefferies India Private Limited	3.00	8,932.09	6.32	3 (100%) 0 (0%)	2 (67%) 1 (33%)	1 (33%) 2 (67%)
Yes Securities (India) Limited	3.00	9,118.26	17.98	2 (67%) 1 (33%)	2 (67%) 1 (33%)	2 (67%) 1 (33%)
Unistone Capital Private Limited	2.00	251.39	31.97	2 (100%) 0 (0%)	0 (0%) 2 (100%)	0 (0%) 2 (100%)
Idbi Capital Market Services Limited	2.00	1,550.24	30.64	2 (100%) 0 (0%)	2 (100%) 0 (0%)	2 (100%) 0 (0%)
Anand Rathi Securities Limited	2.00	830.78	30.94	2 (100%) 0 (0%)	2 (100%) 0 (0%)	2 (100%) 0 (0%)
Clsa India Private Limited	2.00	3,038.29	191.06	2 (100%) 0 (0%)	1 (50%) 1 (50%)	1 (50%) 1 (50%)
Goldman Sachs (India) Securities Private Limited	2.00	19,813.60	12.55	1 (50%) 1 (50%)	1 (50%) 1 (50%)	1 (50%) 1 (50%)
Motilal Oswal Investment Advisors Limited	2.00	4,606.26	16.55	2 (100%) 0 (0%)	2 (100%) 0 (0%)	2 (100%) 0 (0%)
Pantomath Capital Advisors Private Limited	1.00	161.09	35.29	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Intensive Fiscal Services Private Limited	1.00	569.64	41.16	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Batlivala & Karani Securities India Private Limited	1.00	625.24	18.91	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Bnp Paribas	1.00	660.00	18.67	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Emkay Global Financial Services Limited	1.00	625.24	18.91	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Haitong Securities India Private Limited	1.00	600.00	43.68	1 (100%) 0 (0%)	1 (100%) 0 (0%)	0 (0%) 1 (100%)
Idfc Bank Limited	1.00	4,633.38	9.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Indusind Bank Limited	1.00	3,850.00	20.85	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Iti Capital Limited	1.00	100.00	5.53	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Morgan Stanley India Company Private Limited	1.00	18,300.00	0.00	0 (0%) 1 (100%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)

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Summary

PE Ratio^*
Highest	86.45
Median	29.48
Lowest	5.53

IPO Size (Cr.)
Highest	18300.00
Median	1,995.71
Lowest	100.00

*IPOs with Extreme PE (50+) are excluded from the above calculations.
Above summary is for reference only as the same is based on the limited data set.

Explore More...

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City wise SME Merchant Banker >> Upcoming SME IPO >>

Upcoming SME IPOs in India

The below mentioned are the forthcoming SME IPOs for which DRHPs have been filed recently and are in process of approval by the BSE SME or NSE Emerge exchange.