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	96.00
Median	32.36
Lowest	7.07

IPO Size (Cr.)
Highest	21008.48
Median	1,638.87
Lowest	60.00

*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 2022

IPO Performance of Merchant Bankers in India on NSE and BSE stock exchanges for Mainboard IPO 2022. 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 2022. 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	13.00	35,939.68	82.09	8 (62%) 5 (38%)	8 (62%) 5 (38%)	8 (62%) 5 (38%)
IIFL Securities Limited	12.00	13,557.90	68.55	10 (83%) 2 (17%)	8 (67%) 4 (33%)	8 (67%) 4 (33%)
Jm Financial Limited	12.00	32,809.05	46.93	8 (67%) 4 (33%)	7 (58%) 5 (42%)	6 (50%) 6 (50%)
ICICI Securities Limited	11.00	17,221.28	31.52	8 (73%) 3 (27%)	8 (73%) 3 (27%)	8 (73%) 3 (27%)
Kotak Mahindra Capital Company Limited	10.00	39,891.88	58.92	7 (70%) 3 (30%)	7 (70%) 3 (30%)	7 (70%) 3 (30%)
Bofa Securities India Limited	4.00	31,243.62	81.27	3 (75%) 1 (25%)	2 (50%) 2 (50%)	2 (50%) 2 (50%)
Dam Capital Advisors Limited (Formerly Idfc Securities Limited)	4.00	3,273.43	37.13	2 (50%) 2 (50%)	3 (75%) 1 (25%)	3 (75%) 1 (25%)
Edelweiss Financial Services Limited	4.00	5,982.64	55.39	3 (75%) 1 (25%)	3 (75%) 1 (25%)	3 (75%) 1 (25%)
Equirus Capital Private Limited	4.00	2,595.71	42.86	3 (75%) 1 (25%)	3 (75%) 1 (25%)	2 (50%) 2 (50%)
SBI Capital Markets Limited	4.00	27,618.05	62.27	2 (50%) 2 (50%)	2 (50%) 2 (50%)	3 (75%) 1 (25%)
Clsa India Private Limited	3.00	3,464.48	46.69	2 (67%) 1 (33%)	1 (33%) 2 (67%)	0 (0%) 3 (100%)
Credit Suisse Securities (India) Private Limited	3.00	6,440.57	149.52	3 (100%) 0 (0%)	3 (100%) 0 (0%)	3 (100%) 0 (0%)
Hdfc Bank Limited	3.00	5,088.04	38.99	2 (67%) 1 (33%)	2 (67%) 1 (33%)	2 (67%) 1 (33%)
Citigroup Global Markets India Private Limited	2.00	26,243.48	100.96	1 (50%) 1 (50%)	0 (0%) 2 (100%)	1 (50%) 1 (50%)
J.P. Morgan India Private Limited	2.00	3,080.85	39.73	1 (50%) 1 (50%)	2 (100%) 0 (0%)	2 (100%) 0 (0%)
Motilal Oswal Investment Advisors Limited	2.00	1,369.94	57.02	1 (50%) 1 (50%)	0 (0%) 2 (100%)	0 (0%) 2 (100%)
Nomura Financial Advisory And Securities (India) Private Limited	2.00	22,601.93	113.34	1 (50%) 1 (50%)	1 (50%) 1 (50%)	2 (100%) 0 (0%)
Aryaman Financial Services Limited	1.00	345.60	18.96	0 (0%) 1 (100%)	0 (0%) 1 (100%)	1 (100%) 0 (0%)
Systematix Corporate Services Limited	1.00	200.00	0.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Monarch Networth Capital Limited	1.00	251.15	14.55	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Saffron Capital Advisors Private Limited	1.00	500.00	90.00	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Smc Capitals Limited	1.00	165.42	21.03	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Indorient Financial Services Limited	1.00	412.79	49.42	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Intensive Fiscal Services Private Limited	1.00	881.22	119.05	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Idbi Capital Market Services Limited	1.00	740.00	0.00	0 (0%) 1 (100%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Anand Rathi Securities Limited	1.00	500.00	13.95	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Bnp Paribas	1.00	3,600.00	44.66	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Corporate Capitalventures Private Limited	1.00	60.00	12.81	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Elara Capital (India) Private Limited	1.00	251.15	14.55	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Emkay Global Financial Services Limited	1.00	472.29	96.00	0 (0%) 1 (100%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Goldman Sachs (India) Securities Private Limited	1.00	21,008.48	201.91	0 (0%) 1 (100%)	0 (0%) 1 (100%)	1 (100%) 0 (0%)
Incred Capital Financial Services Private Limited	1.00	472.29	96.00	0 (0%) 1 (100%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Iti Capital Limited	1.00	130.05	15.15	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Jefferies India Private Limited	1.00	2,205.57	38.36	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Morgan Stanley India Company Private Limited	1.00	5,235.00	0.00	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Yes Securities (India) Limited	1.00	412.79	49.42	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)

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Summary

PE Ratio^*
Highest	96.00
Median	32.36
Lowest	7.07

IPO Size (Cr.)
Highest	21008.48
Median	1,638.87
Lowest	60.00

*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...

SME BRLM Performance Tracker >> Mainboard Performance Tracker >>

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City wise Mainboard Merchant Banker >> Upcoming Mainboard IPO >>

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.