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List of Merchant Bankers

This list consists of merchant banker for SME IPO. Role of a merchant banker for SME listing has a broad scope that includes capital restructuring, appointment of market intermediaries, fund raise and promotional activities. The post Issue activities of SME IPO merchant banker in India includes proper basis of allotment, coordinating with intermediaries and compliance with regulatory requirements of the stock exchange. IPO bound companies can search for best Merchant Banker for valuation of shares. One can go through this list of merchant bankers to choose the best IPO lead manager. Through this list, promoters can also find top 10 merchant bankers in India.

Merchant Banker No of IPOs so far Total funds raised (Cr.) Avg IPO size (Cr.) Avg Listing Gain (%) Avg Subscription (X) Location
Hem Securities Limited 111 2022.20 18.22 32.57 82.58 Jaipur
Pantomath Capital Advisors Private Limited 102 1528.62 14.99 10.65 8.87 Mumbai
Aryaman Financial Services Limited 83 1122.40 13.52 4.91 4.75 New Delhi
Beeline Capital Advisors Private Limited 57 1429.90 25.09 45.63 152.85 Ahmedabad
First Overseas Capital Limited 51 864.46 16.95 5.74 7.52 Mumbai
Sarthi Capital Advisors Private Limited 48 745.76 15.54 17.59 15.23 New Delhi
Guiness Corporate Advisors Private Limited 46 567.07 12.33 7.43 6.46 Kolkata
Gretex Corporate Services Limited 45 701.78 15.60 19.20 35.59 Mumbai
Finshore Management Services Limited 42 516.06 12.29 20.88 44.91 Kolkata
Shreni Shares Limited 40 666.70 16.67 40.86 111.78 Mumbai
Fedex Securities Private Limited 39 820.42 21.04 15.56 59.30 Mumbai
Inventure Merchant Banker Services Private Limited 29 314.35 10.84 24.30 4.78 Mumbai
Swastika Investmart Limited 27 348.48 12.91 15.05 34.57 Mumbai
GYR Capital Advisors Private Limited 27 614.23 22.75 94.34 377.63 Ahmedabad
Corporate Capital Ventures Private Limited 23 818.94 35.61 93.50 193.97 New Delhi
Navigant Corporate Advisors Limited 21 222.21 10.58 5.39 6.43 Mumbai
Interactive Financial Services Limited 17 548.57 32.27 3.50 22.28 Ahmedabad
Monarch Networth Capital Limited 12 195.39 16.28 6.77 6.84 Gandhinagar
Share India Capital Services Private Limited 12 346.49 28.87 38.91 107.46 Noida
Fast Track Finsec Private Limited 12 203.63 16.97 28.38 32.75 New Delhi
Holani Consultants Private Limited 11 225.43 20.49 86.80 182.97 Jaipur
Narnolia Financial Services Limited 10 356.47 35.65 37.08 184.16 Kolkata
Expert Global Consultants Private Limited 10 261.14 26.11 32.62 35.94 New Delhi
Unistone Capital Private Limited 9 239.20 26.58 13.88 22.10 Mumbai
Mark Corporate Advisors Private Limited 9 221.45 24.61 3.66 17.72 Mumbai
Isk Advisors Private Limited 8 181.50 22.69 23.74 42.11 Ahmedabad
Corporate Strategic Allianz Limited 7 157.36 22.48 7.02 0.00
Khambatta Securities Limited 7 111.88 15.98 72.32 132.45 Mumbai
Indorient Financial Services Limited 6 165.08 27.51 23.42 18.02 New Delhi
Keynote Financial Services Limited 6 142.29 23.72 25.62 0.27 Mumbai
Swaraj Shares and Securities Private Limited 6 119.49 19.92 35.98 63.42 Kolkata
Horizon Management Private Limited 5 207.06 41.41 18.71 199.42 Kolkata
Systematix Corporate Services Limited 5 138.67 27.73 11.39 1.30 Indore
Choice Capital Advisors Private Limited 5 100.04 20.01 3.97 25.24
Turnaround Corporate Advisors Private Limited 4 32.57 8.14 12.28 168.63 New Delhi
Khandwala Securities Limited 4 113.02 28.26 36.60 218.26 Mumbai
Oneview Corporate Advisors Private Limited 3 66.53 22.18 71.91 113.17 kolkata
Affinity Global Capital Market Private Limited 3 100.39 33.46 16.00 65.84 Kolkata
Idbi Capital Market Services Limited 3 57.01 19.00 -5.84 0.00
Capitalsquare Advisors Private Limited 3 12.73 4.24 2.51 2.46 Mumbai
Vivro Financial Services Private Limited 3 106.37 35.46 40.37 41.26 Ahmedabad
Bcb Brokerage Private Limited 3 11.16 3.72 -5.67 0.36 Mumbai
Sobhagya Capital Options Limited 3 8.12 2.71 14.39 0.00
Intensive Fiscal Services Private Limited 3 12.47 4.16 1.39 0.00
Arihant Capital Markets Limited 3 97.88 32.63 2.72 1.50 Mumbai
Chartered Capital And Investment Limited 2 46.22 23.11 -2.09 0.00 Ahmedabad
Vc Corporate Advisors Private Limited 2 9.60 4.80 3.17 0.00
Sun Capital Advisory Services (P) Limited 2 16.48 8.24 11.40 36.71 Mumbai
Boi Merchant Bankers Limited 2 38.30 19.15 -2.56 13.67 Mumbai
V B Desai Financial Services Limited 2 6.35 3.18 5.20 0.00
Corporate Strategic Allianz Limted 2 22.41 11.21 0.66 0.00
Srujan Alpha Capital Advisors Llp 2 26.36 13.18 14.81 38.77 Mumbai
Ckp Financial Services Private Limited 2 38.98 19.49 1.32 1.20 Mumbai
Quintessence Enterprises Private Limited 2 13.38 6.69 -6.40 0.56 Hyderabad
kunvarji finstock private limited 2 66.25 33.13 47.69 286.27 Ahmedabad
Mehta Integrated Finance Limited 2 32.02 16.01 -1.46 0.59 Ahmedabad
Ajcon Global Services Limited 2 31.91 15.96 0.50 0.59 Mumbai
D And A Financial Services Private Limited 2 12.02 6.01 -3.14 0.97 New Delhi
Saffron Capital Advisors Private Limited 2 65.78 32.89 5.34 1.18 Mumbai
Ekadrisht Capital Private Limited 2 87.33 43.67 181.61 345.64 Mumbai
Corporate Professionals Capital Private Limited 1 22.08 22.08 152.00 53.94 New Delhi
Kreo Capital Private Limited 1 11.44 11.44 13.15 20.21 Nagpur
Jawa Capital Services Private Limited 1 25.25 25.25 2.46 77.23 New Delhi
Comfort Securities Private Limited 1 8.00 8.00 146.25 0.00
Unicon Capital Services Private Limited 1 3.02 3.02 43.50 0.00
Basan Financial Services Limited 1 3.50 3.50 26.00 0.00
Kjmc Corporate Advisors (India) Limited 1 21.00 21.00 24.88 0.00
First Call India Equity Advisors Private Limited 1 5.05 5.05 0.56 0.00
Nirbhay Capital Services Private Limited 1 38.40 38.40 -6.67 33.60 Ahmedabad
Karvy Investor Services Limited 1 3.58 3.58 6.88 0.00
Tipsons Consultancy Services Private Limited 1 25.50 25.50 2.52 0.00
Microsec Capital Limited 1 19.25 19.25 -10.91 0.00
Galactico Corporate Service Limited 1 10.83 10.83 -7.36 1.20 Nashik
Asit C. Mehta Investment Interrmediates Limited 1 54.97 54.97 -17.00 1.64 Mumbai
Spa Capital Advisors Limited 1 6.00 6.00 -13.75 0.00 New Delhi
Skyline Financial Services Private Limited 1 13.87 13.87 20.00 0.00 New Delhi
Corpwis Advisors Private Limited 1 29.70 29.70 5.00 8.19 Mumbai
Sundae Capital Advisors 1 69.54 69.54 6.49 2.70 New Delhi
Guiness Corporate Advisors Privated Limited 1 18.22 18.22 0.37 Kolkata
Chartered Finance Management Limited 1 10.23 10.23 3.81 2.39 Mumbai
Smc Capitals Limited 1 42.48 42.48 -4.92 1.21 New Delhi
Bonanza Portfolio Limited 1 10.62 10.62 0.28 1.34 New Delhi
Vc Corporate Advisors Private Limited (Vcapl) 1 11.07 11.07 0.00 1.14 Kolkata
Pl Capital Markets Private Limited 1 35.52 35.52 -2.83 5.36 Mumbai
Navigant Corporate Advisors Ltd 1 6.15 6.15 5.76 10.26 Mumbai

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